Page 27 - GEORptJul18

Georgian parliament passes revised 2017 budget
the ruling Georgian Dream party has based its campaigns since 2012.
Meanwhile, infrastructure development is the strategy that the government has chosen to spur economic activity, particularly in the logistics and tourism sectors, and particularly with a focus on rural development.
The 2018 budget law envisions an economic growth level of 4.5% in 2018.
The Georgian parliament has amended the 2017 state budget by increasing the forecasted GDP growth level from 4.0% to 4.5%, civil.ge reported on December 2. In addition, the revised budget stipulates slightly higher revenues – a 0.26% increase to GEL11.4bn (€3.55bn) and a 2.6% increase in spending to GEL11.7bn.
Eight ministries received more funding under the revision: the ministry of economy (GEL106mn hike to GEL476mn), agriculture (GEL65mn more), regional development (GEL30mn), youth and sport (GEL10mn), energy (GEL65mn), foreign affairs (GEL5mn), internal affairs (GEL14mn) and the ministry of internally displaced persons and refugees (GEL15mn).
Georgia State Budget Figures
(GEL mn)
2015 Actual
2016 Actual
2017 Plan
2017 Actual
Revenues
8,170.5
8,580.0
9,489.5
9,750.4
Tax revenues
7,549.6
7,986.8
8,820.0
8,991.3
Grants
315.6
296.8
284.46
289.9
Other revenues
305.3
296.4
385.0
469.2
Expenditures
8,158.0
8,741.8
9,121.22
9,372.1
Compensation for employees
1,376.8
1,452.3
1,393.51
1,385.4
Use of goods and services
946.2
1,117.8
1,144.27
1,248.5
Interest Expense
326.6
397.7
503.04
476.6
Subsidies
245.7
359.3
419.97
537.2
Grants
1,271.4
935.1
1,020.28
972.8
Social benefits
2,802.4
3,150.1
3,313.18
3,324.3
Other expense
1,188.9
1,329.5
1,326.98
1,427.3
Net operating balance
12.5
-161.8
368.23
378.3
Change in nonfinancial assets
392.8
416.1
909.04
874.2
Total balance
-380.3
-577.9
-540.81
-495.9
Source: finance ministry
6.1.1 Budget dynamics - funding, privatization
Mayor Kaladze says land use master plan for Georgian capital to be ready by June
Tbilisi Mayor Kakha Kaladze on April 2 said that the Georgian capital will have a master plan for land use by the start of June, agenda.ge reported. City Institute Georgia, a company that has worked on the project since 2015, extended its deadline to June 1 to finish its work. The master plan will consist of several phases, including a territorial development concept, zoning map, potential transport system development, further development prospects for brown fields and recreational zones.
27 GEORGIA Country Report July 2018 www.intellinews.com