In 2024, the consolidated budget of Georgia will be 28.5 billion GEL, which is 700 million GEL more compared to the original version, as announced by the Prime Minister during the government meeting.
An additional 300 million will be added to the budget from the banking sector next year, while the remaining 400 million will come from increased taxes on the gaming business.
During the session, the Prime Minister compared the 2024 budget with that of 2012 and emphasized that the growth is attributed to the efforts of his team.
“Additional needs were identified during the budget review process. We focused on mobilizing extra resources during this period. After analyzing the trends in the banking sector for the first nine months, it was revealed that in 2024, we will be able to generate an additional 300 million GEL in income from the banking sector.
Additionally, we have proposed a new initiative to the parliamentary majority, which suggests taxing the gaming business at a rate of 15% on profits, up from the current 10%. Withdrawals from gaming businesses will also be taxed at 5%, instead of the current 2%. This measure will contribute an additional 400 million GEL to the budget. In total, the revised version of the budget will increase by 700 million GEL, bringing the total budget to 28.5 billion GEL.
In 2012, the budget amounted to 9 billion GEL. Therefore, we have seen an increase of nearly 20 billion GEL over 11 years, which is an impressive result, attributed to the efforts of our team,” stated Garibashvili.
By Mariam Gorkhelashvili
