Georgia's state budget for 2020 to be revised
According to the Minister, the state budget was calculated according to a "cautious scenario", but the data from the beginning of the year will increase the forecast indicators.
The Ministry of Finance of Georgia intends to make changes to the state budget for 2020 in the spring and increase it by 200 million lari, Finance Minister Ivane Machavariani said.
Since January 1, Georgia has a new state budget of 14.4 billion lari, from which the main funds will go to health care, infrastructure and education. The main financial document was approved by the Parliament in December last year. It was developed by the government of Georgia based on the recommendations of international financial institutions and the needs of the population.
"We already have data for February, as we call it January turnover – very good indicators. And today I can say that we will come to you in the spring to adjust the budget and increase it by at least 200 million, since revenues exceeded our expectations," Machavariani said, speaking at the "Ministerial hour" in Parliament.
According to him, the new approach to risk management and effective administration by the revenue Service makes it possible to believe that the 2020 budget is not in danger.
"Political instability poses a threat to the Georgian economy in the medium term, but today there is no threat to the practical implementation of the budget," Machavariani said.
At the same time, the Finance Minister noted that 100 million of the increased budget will be used to Finance municipalities.
Revenues to the state budget are planned at the level of 14.6 billion lari, including revenues projected at 11.2 billion lari. At the same time, tax revenues should amount to 10.5 billion lari, grants - 241.9 million lari and other revenues - 520 million lari.
According to the forecast, the state budget allocations are set at 14.4 billion lari, including budget funds – 13.3 billion lari, and funding from donors-1.2 billion lari.
The Ministry of internally displaced persons from the occupied territories, labor, health and social protection, the Ministry of regional development and infrastructure of Georgia, as well as the Ministry of education, science, culture and sports will receive the most funding in 2020.
Sputnik-georgia.ru
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Georgia's state budget for 2020 to be revised
According to the Minister, the state budget was calculated according to a "cautious scenario", but the data from the beginning of the year will increase the forecast indicators.
The Ministry of Finance of Georgia intends to make changes to the state budget for 2020 in the spring and increase it by 200 million lari, Finance Minister Ivane Machavariani said.
Since January 1, Georgia has a new state budget of 14.4 billion lari, from which the main funds will go to health care, infrastructure and education. The main financial document was approved by the Parliament in December last year. It was developed by the government of Georgia based on the recommendations of international financial institutions and the needs of the population.
"We already have data for February, as we call it January turnover – very good indicators. And today I can say that we will come to you in the spring to adjust the budget and increase it by at least 200 million, since revenues exceeded our expectations," Machavariani said, speaking at the "Ministerial hour" in Parliament.
According to him, the new approach to risk management and effective administration by the revenue Service makes it possible to believe that the 2020 budget is not in danger.
"Political instability poses a threat to the Georgian economy in the medium term, but today there is no threat to the practical implementation of the budget," Machavariani said.
At the same time, the Finance Minister noted that 100 million of the increased budget will be used to Finance municipalities.
Revenues to the state budget are planned at the level of 14.6 billion lari, including revenues projected at 11.2 billion lari. At the same time, tax revenues should amount to 10.5 billion lari, grants - 241.9 million lari and other revenues - 520 million lari.
According to the forecast, the state budget allocations are set at 14.4 billion lari, including budget funds – 13.3 billion lari, and funding from donors-1.2 billion lari.
The Ministry of internally displaced persons from the occupied territories, labor, health and social protection, the Ministry of regional development and infrastructure of Georgia, as well as the Ministry of education, science, culture and sports will receive the most funding in 2020.
Sputnik-georgia.ru
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