BAKU, Azerbaijan, June 9
By Tamilla Mammadova - Trend:
At the beginning of the pandemic it became clear that a reduction of Georgian consolidated budget would become necessary, said Georgian Prime Minister Giorgi Gakharia,Trend reports with reference to government administration.
Gakharia made the remark during the presentation of the anti-crisis budget for 2020 at the Inter-Agency Coordination Council.
The prime minister said that the government is working with international partners and predicts Georgia will be one of the first countries that will be able to recover from the pandemic's impact.
He stated that the budget parameters presented on June 9 were agreed upon with the International Monetary Fund (IMF).
As reported, since the beginning of March, budget expenditure has been significantly limited and work has begun on the release of resources, both in the state budget and in local budgets.
As a result, it was possible to release up to 600 million lari ($203.6 million) in the consolidated budget, which is reflected in the draft budget amendments. According to the budget, primary current expenditures have reduced by 199.6 million lari ($67.7 million), while capital expenditures were reduced by 347.5 million lari ($117.9 million).
In turn, primary current expenditures for the pandemic increased by 1.87 billion lari ($634.7 million); capital expenditures - by 123.8 million lari ($42.01 million); and debt service and repayment increased by 42 million lari ($14.2 million).
As a result, the state budget allocations increase by 1.49 billion lari ($505.7 million) to 15.92 billion lari ($5.4 billion).
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