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Georgia braces for Euro crisis impact

by | Nov 24, 2011

TBILISI, DFWatch – The Georgian finance minister says the country will financially stand on its feet in 2012.

Dimitri Gvindadze made this statement today in parliament as lawmakers were gathered for a plenary session to review the 2011 budget.

In its revised form, the 2011 budget will be increased  by 219 million lari, to 7 570 million lari.

The minister explained the increase with larger tax revenues because the economy has grown more than expected.

‘Current resources and fiscal strength’ give grounds for forecasting that the country will ‘financially stand on its feet’ next year.

“These resources are necessary for the country to withstand the various outside pressures stemming from the Euro crisis,” Gvindadze said.

 



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