Georgia to decrease financing of president’s administration, gov’t administration, parliament
Total of 600 million GEL in the consolidated budget was freed up, which is reflected in the draft budget amendments. Photo: Nino Alavidze/Agenda.ge.
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The 2020 budget will decrease financing of the president’s administration, the gov’t administration and the parliament amid the coronavirus pandemic.
The budget of the presidential administration will decrease by 750,000 GEL ($251,636/€223,221), while financing the administration of the Georgian government and the parliament will decrease by 1 million GEL ($0.34/€0.3) and 4 million GEL ($1.34/€1.19), respectively.
As for ministries, their budget will also decrease by the following sums:
- Ministry of Finance – 12 million GEL
- Ministry of Economy – 26.6 million GEL
- Ministry of Infrastructure – 251.3 million GEL
- Ministry of Health - 1.5 million GEL
- Ministry of Foreign Affairs – 3 million GEL
- Ministry of Defence – 75 million GEL
- Ministry of Internal Affairs – 10 million GEL
- Ministry of Agriculture – 15.1 million GEL
- Ministry of Education – 127.7 million GEL
Since the beginning of March, budget expenditure has been significantly limited and work has begun to free up financial resources.
As a result, 600 million GEL in the consolidated budget was freed up, which is reflected in the draft budget amendments.
According to the budget, primary current expenditures have reduced by 199.6 million GEL, while capital expenditures were reduced by 347.5 million GEL.
On the other hand, primary current expenditures for the pandemic increases by 1.87 billion GEL; capital expenditures - by 123.8 million GEL; Debt service and repayment increases by 42 million GEL.
As a result state budget allocations increase by a total of 1.49 billion GEL and amount to 15.92 billion GEL.
The government of Georgia will take a new loan worth 4.47 billion GEL to handle the crisis caused by the coronavirus pandemic, according to the anti-crisis budget for 2020 presented today.
Georgian Prime Minister Giorgi Gakharia has presented the anti-crisis budget for 2020 at the Inter-Agency Coordination Council today in response to the before sending it to the Parliament of Georgia later today. "The reason and purpose of our meeting today is the anti-crisis budget for 2020. We all understand very well that the epidemic has pushed the country back economically. Today the budget will be presented to parliament and you are all here to discuss it and change our opinions", Gakharia said.
The Georgian government is working with experts from the University of Cambridge and the University of London as well as Deloitte analysts and local experts to create a post-crisis economic plan and decide what steps they should take in order to improve the Georgian economy after the coronavirus lockdown.
Georgia will spend 3.5 billion (about $1.10b/€1.02b) on its coronavirus anti-crisis plan, Georgian Prime Minister Giorgi Gakharia announced earlier today. "For now, the country will spend GEL 3.5 billion on managing the crisis, of which 1.035 billion GEL will be directed at social support of citizens, 2.11 billion GEL will be directed at the economy and entrepreneurs, while 350 million GEL will be spent on the health care of each citizen", Gakharia said.