The Parliament adopted the Draft Law on State Budget 2024 with 83 votes, which was introduced by the Finance Minister, Lasha Khutsishvili, accentuating the amendments reflected in the final version after the Committee considerations.

The economic growth for 2024 is planned at 5.2%; the deflator is at 3% for 2024 and forthcoming years; the inflation average rate is at 2.8%; the nominal GDP constitutes 86 bl. GEL; the mixed budget deficit is determined as 2.5%, and the state debt is at 38% of GDP.

Providing the final version of the Draft Budget, the tax revenues to the mixed budget are increased by 110 ml GEL, and the increase to the state budget constitutes 106,6 ml GEL. The sum total of the revenues to the mixed budget is determined by 28 357 ml GEL, where 22 053 ml GEL is from the tax revenues; the expenditures of the mixed budget in sum constitute 28 706 ml GEL.

As for the total revenues to the state budget – the index is increased by 2 398,5 ml GEL and constitutes 24 569,5 ml GEL. Compared to the preceding version, the state budget revenues are increased by 166,6 ml GEL and the state budget assignments constitute 25 030,4 ml GEL, which compared to 2023, are increased by 2 719,1 ml GEL, and compared to the second draft version – by 165 ml GEL. 10 ml GEL out of the hereof extra sums is directed to the reserve fund of the Government to constitute 90 ml GEL; 6 ml GEL shall be directed to the donor-funded state dues (Tbilisi bus project); 450 000 GEL shall be consumed on the transactional costs under the international agreements and other liabilities. 29,2 ml GEL shall be added to the budget of the Health Ministry, where 15 ml GEL will be directed to the IDPs and migrant facilitation program, 14,2 ml GEL – to the public healthcare program (transferred from the target funds); 3 ml GEL – to the IDPs, health, labor and social protection programs.

The fund for the regional projects is increased by 130 ml GEL to constitute 580 ml GEL.

According to the reporter, 30% of the total budget of 2024 – over 8,6 bl. GEL will be consumed in social and healthcare programs.

“At that, 3,6 bl. GEL – 13% of the resources will be directed to the education and science programs; 10% - 2,9 bl. GEL – to the defense and security sphere; the same amount will be consumed on the coverage of the state debts; 1,2 bl. GEL is allocated for the environmental and agricultural programs, and 940 ml GEL – for culture and sports; also, over 7 bl. GEL is envisaged for the infrastructural projects”.

As the Minister noted, GDP per capita at the end of 2023 will exceed 8000 USD, and under the 5% economic growth – will achieve 11 000 USD as of 2027.

Per the reporter, in collaboration with the Parliament, the final version of the budget reflects the indices and programs that fully meet the key tasks of the country.