ECONOMY

Parliament to vote for 2021 draft state budget

29.12.20 11:35


The Georgian parliament will vote for the amended 2021 draft state budget today. Finance Minister Ivane Machavariani will present the bill.

 

The amended draft includes revenues reduced by 1.5 billion GEL, economic growth set at 4.3%.

 

According to Irakli Kovzanadze, Chairman of the Parliamentary Budget and Finance Committee, the foreign debt and the budget deficit increased.

 

“State budget deficit is 7.6%, while foreign debt exceeds the critical verge of 60%. However, the government assures that it has a plan on how to shrink these parameters,” Kovzanadze said.

 

The bill reflects the government-backed social obligations and business assistance amid the economic crisis and recession in the country. Financing of the Covid-19 programs makes over 5 billion GEL.

 

 

source: 1TV

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