MPs Approve 2009 Budget Cut

The Parliament approved on December 4 the government’s proposal to reduce 2009 state budget revenues by GEL 191.9 million and expenditures by GEL 212.6 million.

As a result, by the end of this year total budgetary revenues are set at GEL 6.46 billion and expenditures – at GEL 6.95 billion.

Budgetary amendments were also made in July when initially targeted tax revenue was reduced by GEL 500 million.

The December 4 amendment will cut funding for some ministries with the lion’s share coming to the Defense Ministry – GEL 25.8 million. In July defense funding was already reduced by GEL 45 million as a result of which the latter’s funding amounted to GEL 905 million.

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