Nodar Khaduri

Georgian Finance Minister Nodar Khaduri. (Interpressnews.)

TBILISI, DFWatch–Georgia’s budget for next year will be about 9 billion lari (USD 5.3 billion), Finance Minister Nodar Khaduri says.

After the government session on Friday, Khaduri told journalists that a draft budget has been sent to parliament for further review and approval.

Khaduri said the draft is based on a predicted five percent growth in GDP and 3.5 percent deflation.Khaduri earlier said the government expected seven percent growth next year.

He said the government expects that the nominal GDP will be 29 342 000 000 lari (USD 17 345 708 205) and the budget tax revenues – 7 230 000 000 lari (USD 4 274 060 061). The budget deficit will be 3.9 percent.

The draft budget also proposes increased funding for the Health Ministry and the Education Ministry.

Science will get a boost in funding from 18 million lari in 2012 to 49 million in 2014, according to Khaduri.