Government to Cut Budgetary Expenditures

(Tbilisi, July 7, 2003, Civil Georgia) – President Shevardnadze said today that the budgetary expenditures in 2003 should be reduced, to comply with the International Monetary Fund?s (IMF) recommendations. 
 
?Still we have much to do in a fiscal sphere to balance the budgetary parameters. Unfortunately, we will have to cut off budgetary expenditures. This is a painful issue, but we have no other way,? President Shevardnadze said in his Monday radio broadcast on July 7.

Shevardnadze expressed hope that the IMF will continue cooperation with Georgia.

Earlier Deputy State Minister Giorgi Isakadze said that the budgetary expenditures will be reduced by at least 100 million Lari (approximately USD 47 million).
 
The IMF Mission, which visits Georgia to evaluate fulfillment of the fund?s recommendations by the Georgian authorities, will meet with the Georgian President today. 

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