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Parliamentary Opposition Alarmed at Certain Aspects of the 2014 Budget

Published: October 18, 2013 | 1:06 pm
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The parliamentary opposition has raised the issue of those aspects of the 2014 State Budget which it finds alarming. Thus, according to Giorgi Kandelaki, the government is planning to borrow an additional 400 million Lari at high interest, in order to plug the existing GEL 700 million budget deficit. Furthermore, Mr. Kandelaki has said that he does not understand how the government is planning to increase its income to GEL 7 billion when a 12% economic growth rate would be required to achieve such a target.
In response, the Deputy Finance Minister Giorgi Tabuashvili has stated that a 5% GDP growth would be sufficient to cover the $9.9 billion budget assignments for 2014, and that the government will be fulfilling all its promises. Furthermore, Mr. Tabuashvili sees nothing alarming in having a domestic debt of GEL 400 million.

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