Georgian Prime Minister Zurab Nogaideli presented at the Parliamentary session on December 6 the draft 2006 budget.
?The budget is no more just a collection of figures. It is a result-oriented document,? Zurab Nogaideli said.
However, the Prime Minister did not rule out that certain amendments may be made to the 2006 draft budget before the Parliament makes a final decision regarding the budget, due to Russian Gazprom?s recent ?political decision? over increasing the price of gas for Georgia.
According to the draft budget, revenues for next year are set at GEL 2.9 billion (approximately USD 1.6 billion), including foreign grants of GEL 140.1 million. The government expects GEL 333 million (USD 186 million) from privatization next year. Expenditures for next year are set at GEL 3.2 billion (approximately USD 1.7 billion).
Expenditures for 2005 were set at GEL 2.8 billion and revenues at GEL 2.4 billion.
The education, defense and security systems are expected to benefit most from the increased budgetary targets in 2006.
According to the 2006 draft budget, financing of ministries will be as follows:
Ministry of Defense ? GEL 392.2 million;
Interior Ministry ? GEL 221.5 million;
Foreign Ministry ? GEL 40.8 million;
Ministry of Education and Science ? GEL 286.3 million;
Ministry of Labor, Health Care and Social Welfare ? GEL 713.3 million;
Ministry of Energy ? GEL 247.4 million;
Ministry of Finance ? GEL 685.8 million;
Ministry of Economic Development ? GEL 197.9 million;
Ministry of Justice? GEL 45.9 million;
Ministry of Refugees and Accommodation ? GEL 60.2 million;
Ministry of Culture, Protection of Monuments and Sport ? GEL 45.0 million;
Ministry of Agriculture ? GEL 74.1 million;
Ministry of Environment ? GEL 42.3 million;
Office of the State Minister for Conflict Resolution Issues ? GEL 489,000;
Office of the State Minister for Coordination of Reforms ? GEL 464,000;
Office of the State Minister for Euro-Atlantic Integration Issues ? GEL 588,000;
Office of the State Ministry for Civil Integration Issues ? GEL 211,000.
Next year, GDP growth rate is set at 7.5% and is expected to exceed GEL 12.9 billion (USD 7.1 billion); while the Georgian currency?s exchange rate against the US dollar is forecasted at 1.85 Lari per USD and inflation rate at 5%.
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