Defense Spending Cut by GEL 400 mln ? Minister

Defense spending will be ?significantly reduced? by ?about GEL 400 million? next year, Defense Minister Davit Kezerashvili told reporters on December 19.

Defense spending was GEL 1.495 billion in 2007.

An initial 2008 draft state budget, which was submitted to Parliament for consideration in October, set defense spending at GEL 922.1 million (about USD 576 million). It was, however, withdrawn after Lado Gurgenidze was approved as new Prime Minister on November 22.

The defense minister, speaking after a cabinet meeting, did not, however, give further details.

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