The Parliament starts the consideration of the Draft State Budget 2022 as the Speaker, Shalva Papuashvili stated at the Bureau today. The draft initiated by the Government shall be included in the list of new legal initiatives.
“First of all, it is crucial for the Majority and the Opposition to praise the Government for managing to exceed the planned economic growth, thus, ensuring higher income to the budget and fewer debts for the state”, - the Speaker stated noting that if the opposition has the position about the consumption of the increased incomes, it shall as well be discussed.
“Despite the security challenges that not only Georgia but the wider region and the world encounter and against the background of the economic challenges we face in Georgia, wider region and the world, despite the pandemic and the post-pandemic situation also constituting a problem for us all, the Georgian Government managed to achieve the macro-economic and the budget parameters than optimistically planned; and thus, it means a significant progress for our citizens”, - the Speaker added.
According to the Chair of the Budget and Finance Committee, Irakli Kovzanadze, the Committee developed a schedule providing the consideration of the issue by the Committees and the Factions within the Majority and the Opposition within the established term.
“The Government has submitted the draft budget changes. Here, I introduce the schedule of consideration of the draft in the Committees, Factions and political groups. The schedule allows us to start considerations tomorrow. The Committee is holding a resuming sitting on September 28. Most likely, providing our remarks, recommendations, proposals and the returned corrections, the changes will be approved within October 3 session week. As to the budget, our forecast has proved to be true concerning economic growth – we enjoy the increased GDP index from 6% to 8,5%, which means a significant improvement in all directions, including taxes, namely, VAT, income tax, excise tax and other expenditures. I am only speaking about the state budget and will skip the mixed budget, assignments etc. We have an extra 480 ml GEL to fund certain subjects, which will be interesting for the Committees of all profiles. Besides, the deficit is being drastically reduced in the macroeconomic part. Today we work within 4,4% deficit and in my opinion, the reduced deficit from 4,4% to 3,2% is one of the key parameters of the draft budget, which is in direct connection with the lower inflation and stability of the GEL rate. Yet another important parameter – state debt is drastically reduced. The state debt in regards to GDP is reduced to 39,6%. Macroeconomic parameters are improved, which means lower debts, the reduction of debts is estimated with 700,710 ml GEL. It allows us to state that the budget is going to be better in macro-economic and monetary terms”, - Irakli Kovzanadze stated.
The Bureau approved the schedule of consideration of the draft budget.
