Georgia, Tbilisi, Feb.9 / Trend N. Kirtskhalia /
Georgia's economic growth rate in 2011 will range from 4.5 to 6.5 percent, the Georgian Finance Ministry forecasts.
According to the Finance Ministry's official forecasts, the economic growth rate this year will hit 4.5 percent, Finance Minister Kakha Baindurashvili said in Batumi during a meeting with the government and business circles.
"The official forecast for economic growth is 4.5 percent, which is set in the law on the Georgian state budget for 2011, since the law envisages the avowal of an "unhopeful" forecast of economic growth. Since 2008, that is, since the crisis began, we have moved on forecasting of the so-called high and low scenarios, and our fiscal policy is based on the low scenario," Baindurashvili said.
According to him, under the planned economic growth, the general government expenditures accounted for 31.2 percent of the GDP, last year - 34.6 percent, and the highest expenditures in recent years were in 2009 - 37.2 percent. In 2012, government expenditures are expected to reduce to 30 percent, while in 2013 - to 27.5 percent.