Georgia's 2023 budget: parameters of the final version

2022/12/65656-1670309391.jpg
Read: 409     11:00     06 Декабрь 2022    

The Georgian parliament will announce the voting date for the 2023 state budget draft in the coming days, which should be adopted by the end of the third week of December, the parliament's press service said. 

Last week, the final draft of the state budget for 2023 was submitted to parliament.

Economic growth is expected to increase to 5 percent. Nominal gross domestic product is forecast at 79.7 billion GEL.

The cumulative budget deficit forecast is set at 2.8%. At the same time, the government debt stands at 39% of GDP.

According to the draft law, the budget revenues will increase by 2.1 billion GEL in 2023 and will amount to about 21.9 billion GEL.

Revenues will increase by 1.8 billion GEL and will amount to about 17.6 billion.

As for the budget expenditures, according to the draft law, the 2023 state budget envelope will rise by GEL 2bln, totaling almost GEL 21.9bln.

The maximum amount of Georgia's state debt in 2023 will amount to GEL 31.6 billion.

At that, most of the state debt (73.3%) will consist of foreign debt - 23.1 billion GEL, and debt to international organizations and financial institutions - 16.4 billion GEL. 





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Georgia's 2023 budget: parameters of the final version

2022/12/65656-1670309391.jpg
Read: 410     11:00     06 Декабрь 2022    

The Georgian parliament will announce the voting date for the 2023 state budget draft in the coming days, which should be adopted by the end of the third week of December, the parliament's press service said. 

Last week, the final draft of the state budget for 2023 was submitted to parliament.

Economic growth is expected to increase to 5 percent. Nominal gross domestic product is forecast at 79.7 billion GEL.

The cumulative budget deficit forecast is set at 2.8%. At the same time, the government debt stands at 39% of GDP.

According to the draft law, the budget revenues will increase by 2.1 billion GEL in 2023 and will amount to about 21.9 billion GEL.

Revenues will increase by 1.8 billion GEL and will amount to about 17.6 billion.

As for the budget expenditures, according to the draft law, the 2023 state budget envelope will rise by GEL 2bln, totaling almost GEL 21.9bln.

The maximum amount of Georgia's state debt in 2023 will amount to GEL 31.6 billion.

At that, most of the state debt (73.3%) will consist of foreign debt - 23.1 billion GEL, and debt to international organizations and financial institutions - 16.4 billion GEL. 





Tags: