State budget 2014 still socially oriented
10 October, 2013
State budget 2014  still socially oriented
The draft top fiscal document of the country for 2014 that prioritizes social welfare as promised during the pre-election campaign of the ruling power is already submitted for further parliamentary procedures. It envisages GEL 9 billion for budgetary assignments while key indicators and directions of state budget for 2014-2017 put out 5% as an expected target growth rate of economy during the coming three years. However, some sector pundits think it is difficult to predict future growth figure until the
planned revenues of the current year budget is fulfilled.
The draft entered the Parliament by 1 October in compliance with the budgetary law of Georgia and will be approved by mid-December. Social and health-care, as well as education and agriculture remain as declared priorities of the Georgian Government. GEL 7.4 billion is a planned expenditure figure of the GEL 9 billion budget. The largest share of over GEL 2.6 billion will go to social care including pensions and health-care aids that actually make a lion’s share of 1.9 billion in the social expenses. Overall, the social-oriented expenses make around 35% of the total forecast of budgetary outlays in 2014. GEL 1.2 billion is allocated to the state-based payroll, GEL 809 million is a fund for goods and services, GEL 297 million will be paid for interest rates and GEL 237 million will go to the state subsidies. Grants expectation is set at GEL 1.1 billion and other expenses make GEL 1.2 billion. GEL 584.3 million is allocated to pay off state liabilities: GEL 508.2 million will clear foreign debts and GEL 76.1 million of the internal debt. All in all, the state budget of 2014 increased by GEL 260 million compared to this year, Minister of Finances of Georgia stated. GEL 764 million will finance science and education, GEL 94 million more than last year.
Soso Archvadze, an economic analyst, approves the draft paper from the point of view of transparency. However, he finds the predicted 5% GDP growth a little premature as far as the year of 2013 is not completed and the fourth quarter is always crucial from the point of view of budgetary collection.
“In fact, there is a sort of dilemma: if the planned revenue figures will be implemented this year, the economic growth will be smaller than predicted by the draft paper next year, whereas economy will grow as forecasted, if this year plan fails,” Archvadze elaborated. He approves the recent trend of Georgian state budget that the share of social expenses increases from year to year and share of military outlays decreases, thus blueprinting the tendencies of European countries.
“In Europe, social expenses make up no less than 70% in the State budget. We have only 35-36% but it is increasing stepwise. Military expenses foreseen in this upcoming budget is twice less than in 2008 and equals the data of 2005, whereas the GDP doubled since 2005. We cannot copy the developed countries’ experience instantly but the process moves on slowly as many obstacles, including mental problems like nepotism, still hamper economic development of Georgia,” Archvadze said.
Print
Other Stories
Anaklia Port and its importance for Georgia
In 2016, Anaklia Development Consortium was authorized to launch the construction of Anaklia Port.
Cryptocurrency mining threatens electrical network in Abkhazia
In the breakaway region of Akbhazia rampant cryptocurrency mining is threatening the shaky electrical network, reports an article of the news portal EuroNet.
Caucasus Wine University to be opened in Gurjaani
In the Kakheti region a new viticulture campus of the Caucasus University is in the process of planning.
Photos describing life of the poorest in Georgia
Fight with poverty should be among top priorities of every government in every country.
Training farmers to rescue the organic hazelnut production in Georgia
Even drizzling rain and unpleasant gusts of wind can’t prevent the farmers from coming and participating in the agricultural training.
Bleak times for organic farmers in Georgia – but there is hope
Organic hazelnut production is a delicate plant in Georgia that has emerged just a couple of years ago. Various pests, among them the Asian stink bug Parosana, trouble hazelnut farmers and menace their livelihood – even before their businesses could really take off.
Hybrid car imports are going through the roof in Georgia
Thanks to their fuel economy, the popularity of hybrid cars is increasing in Georgia, where fuel affordability is low and prices for fuel are unstable.
The New Year offer from MAQRO Construction - Apartments with unbelievable discounts and the parking spaces for FREE!
Location, green yard, spaces for various needs, experience of the construction company and parking space are the main important criteria for potential buyers of apartments.
Interview with the co-founder of Kiwi Vegan Café – the first vegan place in Tbilisi
Behind the Kiwi Vegan Café stands a group of activists who wants to raise Georgian’s awareness for animal rights and welfare.
Biblusi opens first shop for tourists - Georgian
The largest book shop in Georgia Biblusi opens the first shop specially designated to the needs and interests of tourists and named it Georgian.
Georgia improves by five ranks in the Prosperity Index
In the overall Prosperity Index rankings, Georgia has climbed by 5 positions from 85 to 80 when compared to last year. As such, Georgia is the best performing country in the CIS zone.
The future is bright for electric cars in Georgia
The numerous hybrid cars in the streets of Tbilisi cannot be overlooked. Entrepreneur Sulkhan Gvalia calls them “pagers”, referring to the predecessor of mobile phones.
Georgia’s fight against the big tiny enemy – Asian Parosana
It’s a tiny creature, but the harm it did to the Georgian agriculture sector was and still is immense.
New cable route: from Kobi to Gudauri in 15 minutes
On the 15th of December, cable transport is scheduled to be opened connecting Kobi and Gudauri.
Tourist boom in Gudauri – majority of hotels are booked by foreigners
Gudauri is among the most popular winter resorts in Georgia.
Medical tourism increases in Georgia
In the last 9 months, Georgia was visited by 19 500 foreigners for medical and recovery purposes.
Doing business in Georgia has become easier than in America
According to the Doing Business 2019 report published by the World Bank, Georgia ranked 6th among 190 countries in terms of simplicity of doing business. This was an improvement over two ranks compared to last year.
Problems that foreigners frequently face in Georgia
The importance of Georgia as a tourism hub is growing year after year.
Tbilisi TV Broadcasting Tower – Better than the Eiffel Tower?
It is planned to renovate the Tbilisi TV Broadcasting Tower, one of the landmarks in the capital.
Georgian Fusion Menu by The Biltmore Hotel Tbilisi
5,895,914 international visitors have visited Georgia between January and August of 2018. Compared to the previous year the number has increased by 12.2 per cent.
Advertising of gambling and lucrative games may become banned in Georgia
Advertising of gambling and lucrative games may become banned in Georgia. Those who violate the new rule would be fined GEL 10 000.
Lebanese café-lounge Beirut opens in Tbilisi
What is necessary to organize an unforgettable event? – Fun, emotions, lots of surprises, good music and delicious menu.
Georgia second among the fastest growing tourist destinations in Europe
Georgia is among the fastest growing tourist destinations in Europe. The data is published by the UN World Tourism Organization.
Bitmain launches world digital mining summit in Tbilisi, Georgia
Bitmain CEO Jihan Wu and Roger Ver, CEO of Bitcoin.com Head Speaker List featuring Circle, DEX.top and Genesis Mining when Digital Mining Leaders Convene In Tbilisi on September 21-23
GAZELLE FINANCE GEORGIA AND TBC BANK HELP THE WESTERN REGIONAL CENTER OF MODERN MEDICAL TECHNOLOGIES EXPAND ACCESS TO QUALITY HEALTHCARE SERVICES IN KUTAISI, GEORGIA
TBC Bank and Gazelle Finance have teamed-up to support Medical City, a leading healthcare provider in the western region of Georgia to launch the Western Regional Center Of Modern Medical Technologies.
PHOTO OF THE DAY
GEL Exchange Rate
Convertor
21.01.2019
22.01.2019
USD
1
USD
2.6629
2.6613
EUR
1
EUR
3.0368
3.0283
GBP
1
GBP
3.4463
3.4211
RUB
100
RUB
4.0103
4.0074
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.6613
EUR
1
EUR
3.0283
GBP
1
GBP
3.4211
RUB
100
RUB
4.0074
January 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31