Sport, culture and youth ministry to have $144mln budget for 2023

The ministry of culture, sport and youth of Georgia will command a budget of ₾401 million ($144mln) next year, after a joint sitting of the Georgian parliament’s committee of sports and youth affairs and its culture counterpart on Tuesday approved the initial version of the 2023 draft budget.

First deputy finance minister Giorgi Kakauridze had introduced the draft with the main directions and financial indexes of the document, the parliament press office said.

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Unveiled as part of ministry-by-ministry approvals of next year’s budget, the figure marks an increase from last year’s ₾343 million ($123.18mln) budget for the state body governing cultural institutions, sports bodies and youth affairs.

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Kakauridze also introduced the main indices of the overall state budget, according to which the income part of the budget has been defined at ₾21 billion ($7.54bln) and expenditures at ₾24 billion ($8.62bln).

He also said the consolidated budget deficit was planned to be 2.8 percent of the gross domestic product, while the government debt rate was planned to be 39 percent of the GDP.