With the presented adjustments, we will end up with borrowings being GEL 710 mln less. Such a statement made today the Prime Minister of Georgia.

“Adjustments to the state budget of the current year have been conditioned by the high economic growth and they are aimed at achieving 2 key goals in the country. First one is the reduction of the Budget Deficit and Public Debt. Also, let me briefly focus on this here. You may well be aware that the cumulative budget was planned with an assumption of GDP based on 4.4% deficit and 51% of public debt. With the presented adjustments, we will end up with borrowings being 710 MLN GEL less.

Such strong economic parameters being taken into account, public debt will be reduced to 40% of GDP by the end of the year, instead of being 51%, which is also a very good indicator. At the same time, the Budget Deficit will be reduced from 4.4% of GDP to 3.2%. Deficit will be only 3.2%!

In parallel with a reduction in deficit and public debt indicators, additional funds will be channeled to service the current borrowings on the one hand and to other directions – be that police, army, infrastructure, enterprises, agriculture, social policy, healthcare and sports – on the other hand”, - said Irakli Garibashvili.