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1 billion dollars cut of Georgian budget 20092008-12-25 17:50
1 billion dollars of Georgian budget 2009 will be cut comparing with the budget 2008.gt-en-newsitem-inside
The government states that it isn't anyhow connected with the financial crisis. The Ministry of Finance explains that Georgia will not receive money from European bonds in 2009. Other reasons for budget cuts are tax and privatization funds cuts, Day .Az reports.
According to budget 2009, 2 per cent economic growth is expected (4.5 per cent this year).
In end 2008 the inflation rate is 8 per cent; in 2009, presumably, 7 per cent.
Exchange rate of lari to dollar will probably count 1.65. The total budget allocations are 6 billion GEL 271 million, 5 billion 220 million of them is the revenue.
GEL 518 million will be spent on infrastructural projects (221 million more than this year). GEL 20 million allocated for the Cheap Credits program finance; GEL 25 million is the surplus funds of the president and government.
The Ministry of Finance presents the final budget draft to the Parliament today. On December, 25th . The budget will be passed on December, 30th .