Finance Minister presents draft state budget for 2024 at Parliament for “advancing future of Georgia”
Georgian Finance Minister Lasha Khutsishvili on Wednesday presented an updated draft state budget for 2024 at the second hearing of the Parliament. Photo: Ministry of Finance
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Georgian Finance Minister Lasha Khutsishvili on Wednesday presented an updated draft state budget for 2024 at the second hearing of the Parliament, calling the document a budget aimed for ensuring “bright, progressive, inclusive and advancing future of Georgia”.
Minister @Lasha_Khutsish presented an updated #Draft #State #Budged for 2024 at the #Second #Hearing of the @parliament_ge for a bright, progressive,inclusive and advancing future of ???????? pic.twitter.com/uRmvniAdEk
— Mof Georgia (@mofgeorgia) November 15, 2023
The Ministry of Finance cited Khutsishvili as saying the budget would amount ₾28.5 billion ($10.63bln) and explaining its distribution between different ministries and purposes.
The finances are going to be allocated to the sectors in the following amounts:
- Social programmes - ₾6.460 billion ($2.41bln)
- Infrastructural projects - ₾6.9 billion ($2.57bln)
- Educational and science programmes - ₾3.6 billion ($1.34bln)
- Preschool and general education - ₾2.70 billion ($1.01bln)
- Educational infrastructure - ₾790 million ($294.78mln)
- Defence and security - ₾2.9 billion ($1.08bln)
- Servicing and repayment of state debts - ₾2.9 billion ($1.08bln)
- Environmental protection - ₾650 million ($242.54mln)
- Agriculture - ₾579 million ($216mln)
- Culture and sport - ₾950 million ($354.48mln)
- Healthcare programmes - ₾1.802 billion ($0.67bln)
- Social assistance of target groups - ₾1.519 billion ($0.57bln)
- Tourism - ₾236 million ($88mln)
- Project for building a deep sea port in the Black Sea town of Anaklia - ₾50 million ($18.66mln)
- Road infrastructure - ₾1.9 billion ($0.71bln)
- Construction and renovation of municipal infrastructure - ₾1.7 billion ($0.63bln)
In comments on the Anaklia port project in the north-west of the country, Khutsishviil said a total of ₾70 million ($26.12mln) would be provided for the construction of the facility, with ₾50 million ($18.66mln) of the sum to be invested in 2024 and ₾20 million ($7.46mln) allocated this year.
In total, 88 percent of the budget resources will go to the programmes and projects [mentioned above], while 12 percent will finance all other agencies and programmes, including the courts, the Central Election Commission, the Parliament, municipality salaries and others”, Khutsishvili told MPs.
The Minister also said next year’s budget included an increased amount of pensions and state compensations, adding most of the beneficiaries of state compensations were former police officers, servicemembers and representatives of special services.
How is it distributed over ministries?
Georgian Prime Minister Irakli Garibashvili on Friday provided detailed information about the 2024 state budget at the weekly Government meeting and shared how the figure would be distributed to different ministries and purposes.
Georgian Prime Minister Irakli Garibashvili on Friday presented the revised version of the 2024 state budget at the weekly Government meeting, planned with a ₾700 million ($257.85mln) increase and the total amount of ₾28.5 billion ($10.5bln).
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.
Georgian Prime Minister Irakli Garibashvili said pensions for pensioners aged 70 years and older would increase by ₾50 ($18.62) and become ₾415 ($154.58), while for pensioners under 70 it would be raised by ₾20 ($7.45) and reach ₾315 ($117.33).
Georgian Finance Minister Lasha Khutsishvili on Wednesday said the domestic economy would “continue to grow significantly” after achieving double-digit growth over the past two years, a dynamic he said had allowed the Government to “fully recover” the losses caused by Covid-19 and return to pre-pandemic levels this year.
Georgian Prime Minister Irakli Garibashvili on Monday said ₾6.7 million ($2.47mln) would be spent on infrastructure projects across the country next year, in comments on the final version of the state budget for next year at the weekly Government meeting.
Georgian Prime Minister Irakli Garibashvili on Monday said the fiscally “balanced” state budget for 2024 involved “quite interesting” programmes and would affect the “largest part of our population” next year.
Georgian Finance Minister Lasha Khutsishvili on Wednesday presented the final version of the draft state budget for 2024 to the Parliament and said the document reflected programmes that “fully respond” to the “main tasks” of the country.