Georgian government eyes to reduce budget expenditures
BAKU, Azerbaijan, May 28
By Tamilla Mammadova – Trend:
Georgian government plans to reduce budget expenditures by 600 million lari ($188.5 million), Prime Minister of Georgia Giorgi Gakharia said, Trend reports citing Georgian media.
"Georgia is part of the global economy, so it was impossible to avoid the impact of the global economic crisis on our economy,” Gakharia said.
According to the International Monetary Fund (IMF), Georgia’s economic growth rate will decline by four percent, he noted.
Gakharia added that as a result of active negotiations with the government’s international partners, Georgia was the first country to agree to a new program with the IMF amid a pandemic and economic crisis, which would make it easier to work with other donors.
“It has been confirmed, and the Georgian government has received support from international donor organizations in the amount of $500 billion for the time being,” the prime minister said.
He added that the amended budget will be presented in the nearest future.
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