On July 22, the Parliament of Georgia approved the amendments to the 2021 state budget. According to the changes GEL 1.1 billion (USD 354 million,) increased budget expenditures.

The basis for the changes was the new forecast of the Ministry of Finance of Georgia regarding the growth of the economy. According to the Ministry's forecast, the renewed economic growth rate in 2021 will increase to 7.7%, instead of the previous 4.3%.

Amendments to the 2021 budget indicate that the state budget revenues at GEL 17.9 billion (USD 5,7 billion), up by GEL 1.2 billion (USD 387 million) from the initial estimate. The budget deficit decreases from 7.6% to 6.9%, while government debt is slashed down to 54.6%.

Of the increased budget assignments, GEL 600 million will go to the Ministry of Health, and GEL 446 million will be provided to bolster the government’s efforts against COVID-19.

Source: Ministry of Finance of Georgia

See detailed information: https://www.mof.ge/News/9849