18.Oct .2021 18:00

Inflation And GEL Rate Remain The Main Challenge For Our Population - Kovzanadze

Inflation And GEL Rate Remain The Main Challenge For Our Population - Kovzanadze
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We encounter 2 major acute challenges today – the pandemic, high inflation and GEL rate. Deriving from these challenges, Budget 2022 is to play a key role in stability, sustainability, and economic growth, - the Chair of the Budget and Finance Committee, Irakli Kovzanadze stated at the sitting of the Committee.

“The draft budget envisages the 6% of the economic growth and reduction of the deficit from 6.9% to 4,4%, which is of high importance for me personally since it affects the inflation and GEL rate – the two acute challenges for our population today. Naturally, the deficit will be further reduced, though providing the unforeseeable milieu due to the pandemic, we shall also think about its outcomes in the part of the assignments”, - he added.

The initial version of the draft budget enclosed with the remarks and recommendations, signed by the Speaker, will be submitted to the Government to, pursuant to the procedures, be returned as of November 5 to the Parliament.

“The Government shall return the revised version as of November 5. We will discuss the revisions and finalize the document in December, which is quite a hard work”, - Kovzanadze stated.