As mentioned by Giorgi Kakauridze, the First Deputy Minister of Finance, Georgia experienced double-digit economic growth in 2021-2022, resulting in increased budget revenues and enabling adjustments to the current budget.

"We were able to reduce the budget deficit from 9.3% to 3.1% by the end of 2022. Also, the amount of debt decreased from a level higher than 60% to a level lower than 40%”, - he stated.

Furthermore, according to the analysis of the first six months' performance presented, the country's economy grew by 7.7% in the first quarter of this year, and foreign direct investments increased by 10%.

Giorgi Kakauridze emphasized that both income and other taxes are significantly contributing to the state budget.

"This presents us with an opportunity to revise and expand our plans. Following an analysis of the high-performance trends observed during the first six months, we have decided to allocate additional financial resources and direct them towards programs that are in need of extra funding by the end of the year", - Giorgi Kakauridze stated.

According to him, funding is also increasing in the direction of education and science, in the direction of culture and sports, the funding of the Ministry of Economy and Sustainable Development is increasing, and others.

"Thanks to the unexpectedly high economic growth, tax revenues for the combined budget have exceeded projections by over 500 million GEL. This surplus allows for additional funding of identified needs for the current year without increasing the budget deficit. In fact, the deficit will remain at its planned level. Additionally, this surplus will contribute to reducing the debt collection targets for 2023. Consequently, the debt ratio will decrease to 39%, which means that the country will need to take on 360 million GEL less in debt", - the speaker stated.

The Committee endorsed the document.