Infrastructure Ministry fulfils 9-month 2023 budget with 108.2% excess, spending at “historic high”
Agencies under the body’s management also exceeded annual budget plans, with the Roads Department spending ₾1.50 billion ($0.56bln), or 109 percent of the annual adjusted plan. Photo: Nino Alavidze/Agenda.ge
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The Ministry of Regional Development and Infrastructure of Georgia exceeded its approved budget for the first nine months of 2023 by 108.2 percent, spending ₾176.1 million ($65.84mln) more than proscribed by the financial plan, the state body revealed on Tuesday.
The Ministry contributed ₾220.1 million ($82.29mln) more financial resources to the development of infrastructural projects than the previous year, which is the highest nine-month performance rate in the history of the Ministry's existence”, it added.
Agencies under the body’s management also exceeded annual budget plans, with the Roads Department spending ₾1.50 billion ($0.56bln), or 109 percent of the annual adjusted plan, the Municipal Development Fund using ₾479 million ($179mln), or 104 percent of its budget, and the United Water Supply Company’s spending reaching ₾309.3 million ($115.64mln) - 102 percent of the office’s budget.
The Ministry’s overall 2022 budget spend was a 23 percent increase over the ₾2.51 billion ($.0.94bln) expenditure of 2021.
Azerbaijani President Ilham Aliyev on Sunday highlighted the “successful” joint energy and transport projects and initiatives with Georgia and expressed a desire to deepen cooperation.
Irakli Karseladze, the Georgian Minister of Regional Development and Infrastructure, and Rolande Pryce, the World Bank Regional Director for the South Caucasus, on Thursday discussed the completed, ongoing and planned infrastructure projects in the country through the Bank’s financial support.
Georgian Prime Minister Irakli Garibashvili on Friday said the country’s budget for 2024, planned with a 5.2 percent economic growth, would be ₾27.800 billion ($10.35bln).
The progress of ongoing important projects in Georgia, supported by the European Investment Bank, was reviewed on Thursday by Infrastructure Minister Irakli Karseladze and the delegation of the Bank, the Infrastructure Ministry said.
The Municipal Development Fund of Georgia on Thursday announced the launch of a ₾1 billion ($382mln), five-year programme for renovation and development of infrastructure in 11 locations across the country. Venues and monuments in cities and towns will go under works as part of the programme initiated by Prime Minister Irakli Garibashvili.
Georgia’s revised budget project for 2024 was discussed on Thursday in a meeting of the Government’s Economic Council led by Prime Minister Irakli Garibashvili.
The Ministry of Regional Development and Infrastructure of Georgia exceeded its approved 2023 budget by 102.5 percent, spending ₾83.3 million ($31mln) more than proscribed by the financial plan for the year, the state body revealed on Tuesday.