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Georgia to revise state budget for 2015

11 November 2015 12:32 (UTC+04:00)
Georgia to revise state budget for 2015

By Vusala Abbasova

The Georgian government intends to increase the country’s tax revenue by 120 million lari (some $50 million) for 2015.

Finance Minister Nodar Khaduri suggested a range of changes to the state budget of Georgia for 2015.

Within the amendments, borrowings in the domestic market will be reduced by 185 million lari (some $77.1 million), while the external lending will be decreased by 100 million lari (some $42 million) and the financing of the Ministry of Labour, Health and Social Welfare will be increased by 96 million lari (some $40 million), said Khaduri.

It is also planned to increase the financing of the Ministry of Agriculture for leasing by 4 million lari (some $1.7 million), while the financing of the Ministry of Agriculture will be reduced for the project costs of irrigation and drainage. The amount of the financing of the Ministry of Agriculture isn't clear yet.

"The expenditures of the Ministry of Infrastructure and Regional Development will be decreased by 77 million lari (some $32.1 million)," Khaduri added.

The government approved the draft and the document will be submitted to the legislative body for discussing.

The finance minister said that the tax revenues to Georgia’s consolidated budget reached 6.52 billion lari - 641 million lari between January and October 2015 more than in the same period of 2014.

State budget revenues reached 7.96 billion lari meaning there was 605 million lari extra income in the first 10 months of 2015 than the same period of last year,” said Khaduri.

Between January and October 2015 Georgia’s state budget enjoyed 7.71billion lari from tax payers.

During the first 10 months of 2015 capital project expenses amounted to 226 million lari,” Khaduri said.

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