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Georgian Tbilisi municipal budget increases

Finance Materials 19 February 2020 11:45 (UTC +04:00)
Georgian Tbilisi municipal budget increases

BAKU, Azerbaijan, Feb. 19

By Tamilla Mammadova – Trend:

By decision of the meeting of the Tbilisi City Assembly, held on Feb.19, 2020, the Georgian Tbilisi municipal budget was increased by 217 million lari ($75.8 million), Trend reports citing Georgian media.

The total budget of Tbilisi now amounts to 1.23 billion lari ($430 million) for 2020.

As reported, major part of the Tbilisi budget will be used to replace old buses and renew the city’s public transport fleet.

Salaries for employees of cultural and educational institutions of Tbilisi will also increase, the report said.

In the latest version of the Georgian parliament state budget for 2020, budget allocations were increased by 221 million lari ($75.97 million) and are set at 14.43 billion lari ($4.96 billion).

Tax income in state budget is forecast at 10.47 billion lari ($3.6 billion).

Forecasted economic growth decreased from 5 percent to 4.5 percent, while the budget deficit is forecasted to be 2.4 percent of gross domestic product.

Inflation target defined by the National Bank of Georgia still remains at 3 percent.

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