Georgia sees growth in value of capital projects
Baku, Azerbaijan, September 6
By Tamilla Mammadova – Trend:
All forecast income categories in Georgia were exceeded according to the actual data for eight months of 2019, said Minister of Finance of Georgia Ivane Machavariani, Trend reports with reference to 1tv.ge.
He made this remark at a joint meeting of parliamentary committees on economic profile. According to him, this year will be unprecedented in terms of project implementation.
“As of September first, the total value of capital projects amounted to 2.03 million lari, which is 628 million lari more than in 2018. Although there are projects that will have some drawbacks for objective reasons, I think this year will be unprecedented in terms of project implementation”, said Machavariani.
He added that in the near future, the Ministry of Finance will present draft budget changes, which will provide additional funds for municipal projects to be implemented in 2020.
"It is worth noting that the utilization rate is improving not only at the central level, but also in municipalities, where we have a 40-percent increase compared to last year", said the minister.
In his words, given the high pace of the project, they can be completed by the end of this year.
(1 USD = 2.95 GEL on September 6)