Georgian PM: 2025 state budget will see growth “in all directions”

Georgian Prime Minister Irakli Kobakhidze on Monday said the upcoming 2025 state budget would see growth “in all directions”, including pensions and funding for culture and sports, and would be presented to the country’s Parliament in December.

We will see an increase in the budget in all directions, including culture and sports, which is a significant part of our [election] programme. The budget for pensions will also experience a substantial increase compared to what was presented in the initial project. All the financial resources relevant to the programme will be reflected in the budget that will be presented to Parliament in a new format at the beginning of December”, he said.

In the lead-up to the October 26 parliamentary vote, Kobakhidze, who is also the head of the ruling Georgian Dream party's election staff, earlier this month presented a programme emphasising the Government’s commitment to key sectors.  

The programme includes efforts to boost the agricultural sector, strengthen rural communities, promote sustainable economic growth and develop sports. Additionally, it outlines plans for balanced regional development, enhanced environmental protection, and stimulation of the domestic tourism industry.

Presenting the programme, Kobakhidze noted pensions had “increased three times” since 2012 in the country. He announced pensions would be set at ₾350 ($128.69) for those aged under 70 and ₾450 ($165.46) for those aged 70 and above starting January 1.

Additionally, pensions for retirees living in highland areas will rise to ₾420 ($154.43) and ₾540 ($198.55), with further increases planned.

The Prime Minister said the country’s budge had been increased from ₾8.5 billion ($3.13bln) in 2012 to ₾28 billion ($10.30bln) this year, while it was projected to exceed ₾40 billion ($14.71bln) by 2028.