Gov’t Proposes Budgetary Amendments

The government submitted to the Parliament draft amendments in the 2010 state budget envisaging increase of expenditures by GEL 215 million.

The amendments were made possible due to increased tax revenues – GEL 150 million and expected EU grant, the government said.

According to an explanatory note attached to the draft amendments, government is revising economic growth forecast from initially expected 2% to 4.5%.

“Our economy grew faster in the first quarter of this year than we expected,” Georgian Finance Minister Kakha Baindurashvili said on June 10.

According to the draft, the government will allocate additional GEL 24, 2 million for housing program for internally displaced persons and GEL 3.4 million for covering their utility tariffs.

GEL 9.4 will be allocated for rehabilitation and construction of facilities in penitentiary system; GEL 12.5 million – for rehabilitation of water supply systems; GEL 23.8 million – for tourism and road infrastructure; GEL 20 million – for co-funding of construction of high-voltage power transmission line; GEL 2.6 million will be spent to purchase of the building of Georgian Embassy in Germany, according to the draft.

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