Increase of Budgetary Revenues Anticipated

Finance Minister Zurab Nogaideli, who has been nominated for the Prime Minister?s position, said on February 15 that the government is currently working over a draft of budgetary amendments, envisaging an increase in 2005 budgetary revenues by at least 400 million Lari (approximately USD 219 million).

The draft is not finalized yet and the exact amount of these increased revenues is not set. The Finance Ministry reported on, February 16, that revenues might be increased by ?up to 500 million Lari.?

This increase in budgetary revenues is anticipated mainly as a result of incomes received from the privatization process.

Currently, the budgetary expenditures for 2005 are set at 2.2 billion Lari (approximately USD 1.2 billion) and revenues at 1.9 billion Lari (approximately USD 1 billion).