11.Jun .2021 15:30

My Aim Is for the Budget Deficit to Be Below 7% – Kovzanadze

My Aim Is for the Budget Deficit to Be Below 7% – Kovzanadze
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Irakli Kovzanadze, Chairman of the Budget and Finance Committee of the Georgian Parliament, suggests that the visit of the Minister of Finance - Lasha Khutsishvili - in the Parliament today will turn into a heated discussion.

"There are many issues. April changed a lot - as you know, there was high economic growth. Questions will be asked about the high budget deficit - this year, there is a 7.6% deficit in the budget, and we are working to reduce it. I think it should be reduced because high deficits are a problem for macroeconomic stability - this is the number one issue.

The Ministry of Finance intends to reduce the deficit to close to 7%, but my aim is for the budget deficit to be below 7%. Also, there will be questions about our high government debt. One of the issues concerns tax revenue because there's growth, and I wonder how it is adjusted. In addition, the population is worried about the increase of prices - the prices are high, as well as the GEL exchange rate - in short, these are the standard topics on which questions will be asked today, "Irakli Kovzanadze told bm.ge.