BAKU, Azerbaijan, October 31
By Tamilla Mammadova - Trend:
Georgian government will spend about 200-300 million lari ($62.03 million-$93.05 million) on subsidizing utility bills, said Finance Minister Ivane Machavariani, Trend reports via Georgian media.
According to the minister, part of the cost of utility subsidies (November-December) will be funded from the 2020 budget, while January-February will be financed from the 2021 budget.
"The estimated volume of the utility subsidy program will be in the range of 200-300 million lari. But it is a preliminary figure and it depends on many things. For example, if such sunny weather continues and November is warm, this amount will be reduced", the minister said, adding that the estimated cost of subsidizing utility bills will be reflected in the revised draft of the 2021 budget.
According to Machavariani, inflation is coming down and it is not far from the target. The minister declared it in the response to a reporter’s question about the price increase for a number of products.
"Since the beginning of the pandemic, product supply was disrupted and prices were grown. Annual inflation was 3.8 percent in September, the target inflation for 2020 is set at 3 percent," he said.
---
Follow the author on Twitter: @Mila619793