The Georgian Parliament approved the updated 2023 Georgian state budget, with the document planned with an economic growth forecast of 5%, the Ministry of Finance announced on December 15.
The document was approved by 84 votes in favour and one against and involved estimation of the nominal gross domestic product at GEL 79.7 billion ($30 billion). The budget deficit is set out at 2.8%, while debt and other incomes for 2023 are in sum increased by GEL 270 million ($101.71 million).
Finance Minister Lasha Khutsishvili said the agreed version of the budget provided a GEL 660-million ($248.63-million) increase for financial resources, while revenues to the budget were increased by GEL 2.1 billion ($0.79 billion) and constituted GEL 21.9 billion ($8.25 billion). Income is increased by GEL 1.8 billion ($0.68 billion) and reaches GEL 17.6 billion ($6.63 billion).
Expenditure assignments are increased in the document by GEL 2 billion ($0.75 billion) and constitute GEL 21.9 billion ($8.25 billion). The highest share is allocated to the Health, Labour and IDP Ministry, with its budget reaching GEL 69 billion ($25.99 billion), most of which will be consumed by social programmes – increased pensions, targeted social aids, medical services, salaries for the medical personnel and accommodation of internally displaced people.
The budget of the Ministry of Infrastructure will constitute GEL 3.3 billion ($1.24 billion), of which GEL 1.9 billion ($0.72 billion) will be consumed by road construction projects and the remaining funds will be expended on water supply rehabilitation and schools.
The budget for the Ministry of Education will reach GEL 2 billion ($0.75 billion), a part of which will be spent on salaries of teachers and resource officers. Salaries for them will be increased by GEL 125 ($47.09), while wages for administrative and technical personnel at schools will be increased by 10%. The budget also envisages salaries for vocational teachers to increase by GEL 15-18 ($5.65-6.78) per hour.
The budget is also increased for the Ministry of Defence, with the figure estimated at GEL 1.3 billion ($0.49 billion). The budget will be spent on salaries of servicemembers, which have been increased by 20%.
For the Interior Ministry, the 2023 budget is set at GEL 1.1 billion ($0.41 billion) and is also designated with a 20% increase in salaries of police officers.
A budget of GEL 431.2 million ($162.44 million) will be designated to the Ministry of Culture, Youth and Sport, with a 10% raise in wages for employees in the sector.
Finally, the budget of the Government Administration will reach GEL 22 million ($8.29 million), while for the Presidential Administration it will be GEL 9.3 million ($3.5 million). (Agenda/Business World Magazine)