President Shevardnadze Calls for the Budget Cuts

(Tbilisi, August 11, 2003, Civil Georgia) – President Shevardnadze said in his radio broadcast on August 11 that the budgetary correction, which implies cutting of expenditures by 86 million Lari (USD 40.3 million), was to be implemented as soon as possible.

“If we fail to revise the budgetary targets that is one of the main recommendations of the International Monetary Fund, we will find it difficult to regain the Fund’s support,” President Shevardnadze stressed.
 
He said, the country continues to work with the IMF!
, adding that “the economic growth will be sensible in case the Fund continues cooperation with Georgia.”

The Parliament of Georgia will start discussion of the draft amendments to the 2003 budget on August 12.

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