Georgia increases budget for 2012 by $122 million

Business Materials 7 May 2012 20:04 (UTC +04:00)

Georgia, Tbilisi, May 7 /Trend N.Kirtzkhalia/

The state budget of Georgia increased by 200.6 million lari ($ 1 = 1.64 lari) in 2012 according to the draft amendments to the budget projections, submitted to Parliament by the government which on Monday was considered at the meeting of Parliament.

Parliamentary Secretary to the Government of the country Gia Khuroshvili said the growth of budget revenues is due to income received from the sale of licenses for the use of natural resources.

In addition, the EU allocated additional grants to fund reforms, which were successfully implemented in various areas, Khuroshvili added.

Khuroshvili noted that the additional funds will be used to finance infrastructure projects in Kakheti and Imereti, rehabilitation of public schools and the implementation of flood protection works, and work related to grape harvest will be financed. Financing of the Commission on clarifying the voter list will also be increased.

The cost will increase by 139.5 million lari in accordance with the project.