Georgian PM says “high” economic growth leading to $186mln budget increase

Georgian Prime Minister Irakli Kobakhidze on Thursday said the country’s “high” economic growth and “fiscal consolidation” in the first two quarters of the year had led to a ₾519 million ($186.04mln) increase in the state budget.

Kobakhidze added the funds would be distributed as follows:

• The Ministry of Health will receive an additional ₾115 million ($41.22mln)
• Municipalities - ₾102 million ($36.56mln) 
• The Ministry of Defence - ₾100 million ($35.85mln)
• The Ministry of Education - ₾80 million ($28.68mln)
• Disaster relief efforts - ₾60 million ($21.51mln)
• The Ministry of Culture and Sports - ₾33 million ($11.83mln)
• The Ministry of Internal Affairs - ₾10 million ($3.58mln)
• Regional development and infrastructure - ₾10 million ($3.58mln)
• The Ministry of Foreign Affairs - ₾6 million ($2.15mln)
• The Central Election Commission - ₾3 million ($1.08mln)

The Georgian economy grew by 9.2 percent year-on-year in May, while the average real gross domestic product growth for the first five months equalled 9.3 percent, the National Statistics Office said.