On December 28, 2007, at the ad hoc meeting of the parliament, the Minister of Finance of Georgia Nika Gilauri presented before the MPs the draft project of the State Budget of Georgia 2008. According to the minister's words, the anticipated indicators of the budget revenues of 2008 have been drafted on the basis of modern classifications, which will enter force by January 1. He also stated that while calculating the said indicators, the projected parameters of economic growth, inflation rate and bettering the administration level by the year 2008 were also taken in view. Dwelling on the above said, the anticipated rate of income part of the budget of 2008 amounted to 5 155.4 million GEL and the expenditure part equaled to 4 563.4 million GEL which will be distributed in the following way: remuneration for labor - 911.7 million GEL, the goods and services - 1 037.1 million, the interest rate - 137.7 million; subsidies - 336.5 million, the grants - 481.9 million, social protection - 1 224.1 million and other expenditure - 434.4 million GEL.
The minister also briefed the audience in a thorough detail on the financial features of all those programs, which are being planned by Georgia's government by the next year; these projects are: Georgia without Poverty, Enhancing the Export, Development of Regional Tourism and Production of Popular Handicrafts, Program on Mechanization of the Villages, Children Care, Inexpensive Credits etc. Finally, the parliament adopted the draft law on the State Budget of Georgia 2008 with 156 votes against 1.
After endorsing the budget, the prime minister of Georgia thanked the MPs for their constructive approach to the discussions on the state budget and on this he stated the following: "The fact that we adopted the budget of 2008 (which is proficient although the surplus is just symbolic) is of great importance indeed. This budget completely implies all those social programs which have been planned and started lately. This is the result of devoted and diligent work that has been accomplished during the last four years by the whole governmental team with Mr. Saakashvili included. I would like to assure you that the given budget is an important step forward in order to combat poverty and create new jobs in our country. Please, be sure that the state budget of 2008, in case the government is given the chance of realizing it will be more optimized and socially orientated, yet marked with high stability and with considerable surplus too. Thank you again and I would like to wish you merry Christmas and successful New Year, many happy returns of the festive days to you all!"
The press center of the Chancellery of the Government of Georgia