Finance Minister reported on economic parameters to the Parliament in the Minister’s Hour format.

According to Lasha Khutsishvili, economic growth in 2021 reached 10,6%, or 2.5 times higher than predicted. He added that the economic growth improved by 3.1% year on year.

Minister reported that the state budget increased by GEL 1.5 billion with additional funds allocated for healthcare, infrastructure and economy restoration projects in 2021. The budget deficiency decreased and amounted to 6.1%.

“We planned to reduce the budget deficit to 4.4% of GDP in 2022, but we think that according to forecasts, it will be possible to reduce it to 4.1%. In parallel with the budget deficit, the Government debt rate will be reduced to 48% of GDP. The volume of Government savings is also an important parameter. This figure was around 5% of GDP before COVID-19. Under the influence of the pandemic, in 2020, this figure became negative - in 2021, it was less than 1%. In parallel with the economic recovery, the level of Government savings in 2022 will come close to the pre-pandemic mark and will exceed 4%”, - said Lasha Khutsishvili.