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State Budget Revenues Shrink in January-February

In January-February 2016 the state budget revenues marked 1 178 million GEL, down 163 million GEL (-12%) compared to the same period of 2015. It is worth noting that, compared to the 1Q15 plan, the first quarter of 2016 is expected to receive 280 million GEL less revenues.

Tax revenues marked 1 088 million GEL, up 72 million GEL compared to the January-February indicators. The 2016 budget revenues will increase by 460 million GEL compared to 2015.

At the same time, the budget expenditures in January-February marked 1 419 million GEL, up 121 million GEL (+9%) compared to the same period of 2015. Since the revenues have shrunk and the expenditures have increased, the government haდ to cover certain expenses from the budget balance funds. As a result, the budget balance has decreased by 241 million GEL.