Georgia records highest budget deficit in ten years

Georgia Materials 25 October 2021 18:38 (UTC +04:00)
Georgia records highest budget deficit in ten years

BAKU, Azerbaijan, Oct. 25

By Maryana Akhmedova – Trend:

Georgia’s budget deficit increased by 279 million Georgian lari ($89.1 million) in September 2021 amounting to 2.56 billion Georgian lari ($817.5 million) over first 9 months of 2021, Trend reports via Georgian media.

According to Georgian Parliamentary Budget Office, this is the highest budget deficit indicator in 9 months over the last 10 years. So far, the highest budget deficit amounted to 2.53 billion Georgian lari ($808.3 million) from January through September 2020.

Meanwhile, the deficit has also been recorded in the operating budget. In particular, the budget received 8.9 billion Georgian lari ($2.8 billion) in revenues from January through September 2021, while expenditures amounted to 9.9 billion Georgian lari ($3.1 billion) over the same period.

The main reason for the increase in the budget deficit is the COVID-19 pandemic and the economic crisis that has arisen from it, due to which the expenditure part of the budget has increased, Georgian Parliamentary Budget Office said.


Follow the author on Twitter: @mariiiakhm