400 ml Increase of Expenditures Planned
Prime Minister Zurab Zhvania said at the government’s meeting on April 5, that expenditures in the 2004 budget will be increased by 400 million Lari (approximately $200 million).
“We hope to mobilize more revenues in 2004 after the reforms in the taxations system. That is why we decided to increase expenditures,” Zurab Zhvania told the cabinet members.
He said that the draft of 2004 budget will be ready “soon and will be submitted to the new Parliament in the near future.”
Georgia failed to adopt 2004 budget last year because of change of government after the November’s bloodless revolution.
Last week the Prime Minister Zhvania reported 40 million Lari budget surplus in three months of 2004.
He explained the surplus by better revenue collection; however he added that problems persist regarding transfer of tax revenues from the Adjarian Autonomous Republic.
