28.Sep .2022 19:00

Draft State Budget 2022 Meets The Fiscal And Monetary Challenges - Kovzanadze

Draft State Budget 2022 Meets The Fiscal And Monetary Challenges - Kovzanadze
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“Improvement of the budget deficit and state debt parameters is important for the fiscal and monetary stability. The Draft State Budget 2022 meets the fiscal and monetary challenges”, - the Chair of the Budget and Finance Committee, Irakli Kovzanadze stated at the sitting.

According to him, despite the lingering challenges, the economic growth demonstrates a high pace in 2022, which is a key reason for the amendment of the Budget.

“The Draft determines the GPD real growth in 2020 by 8,5% instead of the forecasted 6%, improves the budget deficit and state debt parameters in regards to GPD; the budget deficit is reduced from 4,4% to 3,2%, and the state debt is reduced from 51,1% to 39,6%”, - he stated.

In sum, the expenditure part is increased by 480 ml GEL, which will be consumed on the economic growth and the increase of the social program assignments.

The Committee discussed and approved the Draft at the resuming sitting. The Draft with the remarks and recommendations of the Parliament will be returned to the Government. Pursuant to the Rules of Procedure, the revised draft budget and shared remarks will be resubmitted to the Parliament within a week for consideration thereof at the plenary session next week.