Deputy Finance Minister Says Abolition of Presidential Fund Is Necessary

Deputy Finance Minister Giorgi Kakauridze says the country does not need two state funds – Governmental and Presidential.

“Two funds do not exist elsewhere, so we will have consultations about this until the 2019 budget is approved, and the final version will be agreed with the President and her administration,” he stated.

Georgia’s budget has been increased by GEL 630.5 million for the next year and in total will amount to GEL 13.09 billion. According to the final bill, the budget of the Presidential Administration will be GEL 6 million, whereas the budget of the presidential administration was GEL 9,800,000 in 2018.

The Presidential Fund in the 2018 budget was GEL 5 million which will not be allocated from the state budget next year as it is to be abolished.

In addition, the number of employees of the new President’s Administration will be reduced by about 60%.

Currently, 140 people are working in the administration but the 2019 draft budget forsees this number being reduced to 60.

Irakli Kovzanadze, Chair of the Finance and Budget Committee of Parliament, also believes that consultations over the issue are necessary. According to him, the Presidential Administration's reduced funding is in full compliance with its constitutional power.

By Thea Morrison