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Georgia’s Finance Minister positively reviews February’s budget

Georgia’s Finance Minister Nodar Khaduri says February was a “very promising month” in terms of the country’s budget development.

Khaduri announced the turnover of VAT (value-added tax) payer enterprises had increased by 15.5 percent in February, and reached 3.9 million GEL.

“Since the beginning of 2015, budget payments reached 1.354 billion GEL, which was 140 million GEL more compared to last year’s data.”

“At the same time 1.670 billion GEL was spent from the budget this year, which was 165 million GEL more than last year.”

“The final balance has increased by 123 million GEL meaning that it amounts to 478 million GEL. Out of which 272 million GEL is placed in commercial banks,” Khaduri said.

Similarly, taxable turnover increased by 10 percent in February.

“All these parameters encourage us to say February was a very promising month,” Khaduri concluded.

 

Source: www.agenda.ge