BUSINESS
Minister of Finance says 2017 was characterized by significant positive dynamics
24 January, 2018
Minister of Finance Mamuka Bakhtadze talked about the fiscal parameters and state budget indicators at the press conference where he summed up the fiscal year of 2017.

According to him, 2017 was characterized by significant positive dynamics, which reflected in the macroeconomic parameters in a number of ways.

"The 2017 budget reflects
a qualitatively revised fiscal policy, which envisaged increased investments in infrastructural projects, optimization of administrative expenditure and creation of a tax system based on economic growth. Reforms created a substantial resource for private sector development and creation of new jobs," Bakhtadze said.

According to the Minister, 2017 was positive in terms of fulfilling fiscal parameters, in particular, the budget deficit rate was lower than the planned 3,5% and within 3%.

Mamuka Bakhtadze said that in accordance with the Budgetary Code, a report on the state budget was submitted to the Parliament yesterday and details are available on the treasury website.

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