BAKU, Azerbaijan, October 22
By Tamilla Mammadova – Trend:
The government of Georgia has placed 1.6 billion lari ($498 million) on a term deposit in commercial banks, following the 9-month performance of the state budget, Trend reports via Georgian media.
The mentioned figure is the remains of the budget. The sum will be kept on the deposit accounts until 2021.
In total, the remains of the budget amount to 2 billion lari ($622.6 million).
“The remains of the state budget on the state treasury accounts amounted to 2.031 billion lari ($632.2 million) by October 1, 2020, including the free balance of 2.030 billion lari ($631.9 million); Cash for financing investment projects ("Development of Protected Areas") - 885,100 lari ($275,538)," said the performance report on Georgia’s 2020 state budget.
According to the document, another 594 million lari ($184.9 million) is placed at the commercial banks in addition to 1.6 billion lari ($498 million), which is the amount received from the issuance of treasury bonds.
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