The Georgian parliament has approved the state budget for 2020, with 83 votes in favour and one vote against earlier today.
In the latest version of the state budget for 2020, budget allocations were increased by 221 million GEL ($75.97 mln/€68.61mln) and is defined at 14.43 billion GEL ($4.96 bln/€4.48 bln).
Tax income in state budget is forecast at 10.47 billion GEL ($3.6 bln/€3.25 bln).
Forecasted economic growth decreased from 5 per cent to 4.5 per cent, while the budget deficit is forecasted to be 2.4 per cent of gross domestic product.
Inflation target defined by the National Bank of Georgia still remains at 3 per cent.
In 2020 1.9 billion GEL [$0.65 bln/€0.59 bln] will be spent on the educational sector,” said Georgian Finance Minister Ivane Matchavariani.
He noted that in the final version of the 2020 budget, the construction costs for vocational education institutions increased by 5 million GEL ($1.72 mln/€1.55 mln), costs for sports infrastructure increased by 5 million GEL.
Matchavariani also said that costs for education projects and programmes are increased by 15.2 million GEL ($5.23 mln/€4.72 mln) in total.