Georgia's state budget 2018 approved

Georgia's state budget 2018 approved

Georgia’s state budget for 2018 will be 12 billion GEL, which is 943.8 million GEL more compared to 2017.

Georgia's Parliament approved the financial document with 111 votes yesterday.

While presenting next year’s state budget the Finance Minister of Georgia Mamuka Bakhtadze noted that the budget is planned according to the conservative indicators of economic growth and by 2018 it will be 4.5%, while it will increase to 5-6% in the following years.

The budget funds will reach 10.49 billion GEL of which tax revenues will be 9.49 billion. Donors’ financing will total 1.95 billion GEL of which grants will be 364.2 million GEL and credits – 1.58 billion GEL.

In 2018 the budget deficit will be 1.20 billion GEL, reported.

The share of budget expenditures increases by 739 million GEL and reaches 12.45 billion GEL in the new budget.

More specifically, the budget of the ministries in Georgia will be the following: Ministry of Health - 3.52 billion GEL, Ministry of Infrastructure – 1.85 billion GEL, Ministry of Education – 1.18 billion GEL.

A total of 288.5 million GEL will be spent on construction and the rehabilitation of regional and municipal infrastructure, 196 million GEL – for improving the water infrastructure and 1.31 billion – for the construction and rehabilitation of road infrastructure.