Gov't to Present Crisis Management Budget to Parliament on June 5

The Georgian government will propose a corrected 2020 state budget version to the Parliament on June 5. 

"Since discussions may begin in the committees next week, all macroeconomic parameters of the budget will change. The 2020 state budget was calculated on the basis of 4.5% growth. Naturally, this parameter will be changed, as there is an economic crisis in Georgia and worldwide. Due to this, the budget will be corrected considering the -4% decline in GDP," said Irakli Kovzanadze, Chairperson of the financial and budgetary committee of the Parliament of Georgia. 

He added that given the current economic challenges, the deficit in the budget will grow alongside other macroeconomic parameters.

Kovzanadze noted that the international aid received from Georgia's partners will enable the state to balance the deficit in the budget and assist citizens who lost their jobs amid the pandemic. 

Earlier, Georgian Prime Minister Giorgi Gakharia announced that the government would reduce budget expenditures by 600 mln GEL.

By  Ana Dumbadze 

03 June 2020 11:11