The Government of Georgia submitted updated draft budget for 2022. The revised version of the budget provides an increase of expenditures, namely government’s budget spending will increase by GEL 332 million up to GEL 19.17 billion.
The Ministry of Health still will be the largest spending agency with a budget of GEL 6.09 billion. The largest increase in funding compared to the previous version of the budget will be for the Ministry of Economy, which budget is GEL 932 million and it is 290 million more compared to the previous year.
Due to the predicted economic growth of 6%, Georgia's GDP is expected to reach GEL 65 billion.
"As a result of the pandemic, we are reducing the increased debt and budget deficit. The deficit will be 4.2% and the debt volume will be 51.1% of GDP.
As we promised, salaries for the public sector employees will increase by about 10% y-o-y.
The budget for the management of COVID-19 is GEL 500 million, GEL 114 million is provided for the construction of houses for IDPs. The consolidated budget will be GEL 21.8 billion.
Funding for the Ministry of Finance will be GEL 105 million, increased by about GEL 16 million;
The budget of the Ministry of Economy will be GEL 932 million, which has been increased by GEL 290 million, of which 300 million is for Enterprise Georgia.
Funding for the Ministry of Infrastructure amounts to GEL 2.8 billion, the budget is increased by 430 million;
The budget of the Ministry of Justice is GEL 310 million, which is increased by GEL 14 million;
The budget of the Ministry of Foreign Affairs is GEL 176 million, the growth totals to almost GEL 6 million;
Funding for the Ministry of Defense amounts to GEL 1 billion, which has been increased by GEL 72 million;
The funding of the Ministry of Internal Affairs is GEL 865 million and we have increased it by GEL 85 million;
The funding of the Ministry of Health is more than 6 billion GEL.
The budget of the Ministry of Environment and Agriculture is GEL 593 million, which is unchanged.
The funding of the Ministry of Education and Science is GEL 1.684 billion, and the funding of the Ministry of Culture and Sports and Youth is GEL 357 million," - said Irakli Gharibashvili.
