Ministry of Finance of Georgia State Budget in Brief Citizens Guide

Transcription

1 Ministry of Finance of Georgia 2012 State Budget in Brief Citizens Guide

2 10 point plan 1. Macroeconomic Stability 2. Improvement of Current Account Deficit 3. Providing/Maintaining Best Investment and Business Environment 4. Regional Trade and Logistic Centre 5. Improving Infrastructure 6. Agriculture Development 7. Improving System of Education 8. Better Social Policy 9. Developing Available, Affordable and High Quality Health System 10. Urban and Regional Development Ministry of Finance 2

3 Sovereign Ratings - Positive Forecast BB-, Stabel BB-, Stable Ba3, Stable Ministry of Finance 3

4 Successful Economic Development Based on Reforms Hight Rate Economic Growth in 2010 after a short fall in 2009 GDP per capita high growth PPP and Nominal ,1% ,9% ,6% Nominal GDP 12,3% 9,4% GDP Growth 2,3% ,8% ,3% ,0% 12,0% ,0% 8,0% 6,0% 7,0% 5,0% 4,0% 2,0% 0,0% -2,0% -4,0% 2012 F GDP per capita - PPP F Source: GeoStat, MOF Source: GeoStat, MOF Building; 6,2% Diversified Structure of GDP* Other; 16,9% Education ; 4,5% Health and Social Protection; 6,1% Agriculture; 9,3% Transport and Communication; 10,6% * Nominal GDP in Basic Prices Source: GeoStat Ministry of Finance Industry; 17,3% Trade; 17,3% Public Administraion; 11,7% More than Expected Economic Growth GDP growth in 2011 was 7% while the first forecast considered 5.5% growth only. High activity of Real and Financial Sectors, increased tax revenues and positive economic indicators 2011, 12 month results: Tax Revenues increased by 26% compared to the previous year VAT turn-overs increased by annual 26.4%; Credits to real sector from commercial banks increased by 19.1% External Trade turn-over increased by 32.2%-ით 4

5 Million GEL Decreasing Fiscal Deficit 8 000, , , , , , , , , , , , , , , , ,4 Revenues Current Expenditure Capital Spending and Net Lending Fiscal Deficit % to GDP, Current projection First Projection (2009 forecast) პ 2013პ -2,6-2,9-3,4-3,6-3,5-4 -4,8-4,8-6,6-6,5-7,3-9,2 Ministry of Finance 5

6 კაპიტალური ხარჯების მაღალი მაჩვენებელი რეგიონის ქვეყნებთან შედარებით Compensation of Employees (% to GDP, 2009) Capital Expenditure (% to GDP, 2009) 35,0 30,0 25,0 20,0 15,0 10,0 5,0 0,0 15,7 30,6 23,9 23,9 25,4 25,4 29,6 16,7 26,2 19,1 25,1 25,0 20,0 15,0 10,0 5,0 0,0 22,4 11,0 2,6 11,9 4,2 10,7 9,0 9,7 13,4 5,7 9,8 Capital VS Current Spending (Big Share of Capital Expenditures) 100% 80% Current Expenditure Capital Expenditure 86,9% 77,9% 74,4% 77,9% 75,0% 77,0% 60% 40% 20% 13,1% 22,1% 25,6% 22,1% 25,0% 23,0% 0% plan 2013F Ministry of Finance Source: WB, GeoStat 6

7 2012 Consolidated Budget Total Receipts and Deficit Financing Grants 3% Other Revenues 5% Financial Assets 1% Taxes 77% 14% Long-term Financing with preferential terms Donor Funded Investment Projects 74% Donor Budget Support 6% Privatization 12% T-Bills 8% Ministry of Finance 7

8 Brussel s Pledge Brussels Donor Support Public and Private Sector Contracted Financial Resources according to Sectors Pledged and Contracted Amount $4.5 Billion Agriculture and Others 10% Budget Support 21% Applied ათვისებული Amount $2.5 ~$2.2 მლრდ Billion შეთანხმებული ~$4.4 მლრდ Private Sector 19% Urban and Municipal Infrastructure 15% Energy Infrastructure 12% IDP Support 6% Transport Intrastructure 17% Public Sector Contracted Financial Resources according to Donors EIB 5% EBRD 6% Japan 6% Other 4% ADB 18% WB 20% Ministry of Finance USG & EC 33% Germany 8% 8

9 US$ mln State Debt State Debt Indicators: Convenient Debt Dynamics 80% 60% 40% 20% 0% State Debt %-to Nominal GDP State External Debt % to Nominal GDP 63,2% 50,5% 40,0% 41,1% 42,3% 36,7% 32,0% 34,9% 44,9% 31,2% 25,5% 34,5% 31,7% 33,6% 26,8% 29,0% 27,8% 21,1% 23,5% 16,8% პ Comment: Includes National Bank s Liabilities to IMF Governments External Debt Service 15% External Debt Service and Amortization % to GDP 10% 9,1% 8,7% 7,1% 7,2% 5% 3,4% 2,0% 4,33% 4,35% 4,3% 4,4% 0% პ Ministry of Finance 9

10 2011 ფაქტი Million USD State Debt Portfolio Parameters State Debt Convenient Structure and low Interest Rates External Debt Interest Rates by types: Low Interest Risks Domestic Debt 21% External Debt 79% Multilateral 56% State External Debt Weighted Average Interest Rate 2.0% Variable 33% Bileteral 12% Eurobonds 11% Fixed 67% State External Debt Amortisation 600 Other IMF Comment: Forecasts are based on the balance for the December 31, 2011 Ministry of Finance 10

11 Program Budget Program Budgeting - next step of the Public Finance Management Reform; 2012 State Budget was the first State Budget prepared in Program Budget Format; Program Budget Methodology has been prepared as a result of consultations with the representatives of the IMF, WB, Finance-Budget Committee of the Parliament of Georgia and Chamber of Control; There are descriptions, outputs, outcomes and performance measurement indicators for each program under the State Budget Priorities in the State Budget Law as well as in its annex; Program Budgeting makes public spending more transparent and results oriented; Ministry of Finance 11

12 ძირითადი მაკროეკონომიკური ინდიკატორები Name Plan 2013 Preliminary Forecast 2014 Preliminary Forecast GDP Real Growth -3.8% 6.3% 7.0% 5.0% 6.5% 7.0% Nominal GDP (Million GEL) 17, , , , , ,528.6 GDP per Capita ($) 2, , , , , ,544.6 Inflation 1.7% 7.1% 8.0% 6.0% 6.0% 6.0% Budget Deficit 1, , Budget Deficit % to GDP 9.2% 6.6% 3.6% 3.5% 2.9% 2.4% Tax Revenues (Consolidated Budget) 4, , , , , ,731.0 Tax Revenues % to GDP 24.4% 23.5% 25.3% 24.6% 23.8% 22.5% Ministry of Finance 12

13 Million GEL , , , , , , , , , ,0 0,0 % to GDP Consolidated Budget Consolidated Budget Receipts % to GDP Consolidated Budget Total Expenditures , , , , , , ,0 37,6% 6 767,2 36,7% 7 616, , , ,1 35,0% 30,0% 33,3% 31,7% 29,7% 40,0% 25,0% 20,0% 15,0% 39,7% 7 140, ,0 45,0% 8 480, , ,8 40,0% 35,0% 36,1% 32,9% 31,4% 30,7% 30,0% 25,0% 20,0% 3 000,0 15,0% 2 000,0 10,0% 10,0% 1 000,0 5,0% 5,0% 0, ,0% ,0% Ministry of Finance 13

14 State Budget Receipts Name 2012 State Budget (million GEL) % to GDP Budget (Domestic) Funds 6, % Taxes 6, % Other Revenues % Decrease in Non-Financial Assets (Privatisation) % Decrease in Financial Assets (Repayment) % Increase in Domestic Debt (T-Bills) % Donor Funds 1, % Grants % Credits % Sum 8, % Ministry of Finance 14

15 State Budget Receipts State Budget Total Receipts by Structure Increase in Domestic Debt 1,2% Repayments 0,7% Privatisation 0,9% Increase in External Debt 11,8% Decreasing Trend of Deficit Financing: ,0% 100,0% 80,0% 21,9% 22,5% 12,4% 13,9% Other Revenues 3,7% Grants 3,0% 60,0% 40,0% 78,1% 77,5% 87,6% 86,1% Taxes 78,6% 20,0% 0,0% Plan Non-Deficit Revenues Deficit Revenues Ministry of Finance 15

16 Million GEL % to GDP State Budget Allocations ( ) State Budget Allocations % to GDP 9 000, , , , ,0 30,8% 5 237,1 35,4% 37,6% 6 758, , ,3 33,6% 7 459,3 30,8% 7 915,4 29,4% 40,0% 38,0% 36,0% 34,0% 32,0% 30,0% 28,0% 26,0% 4 000,0 24,0% 22,0% 3 000, Plan 20,0% Ministry of Finance 16

17 Million GEL State Budget Allocations State Budget Allocation Structure by Economic Classification Other Expenses Education 8% Regional and Infrastructural Projects 16% State Debt 6% Ministry of Energy 17% Ministry of Justice 4% Reserve Funds and Liability Payment 9% Agriculture 10% Ministry of Internal Affairs 8% Defence 9% Local Transfers 10% Other Expenses 21% Health and Social Protection 22% Ministry of Foreign Affairs 5% Ministry of Correction and Legal Assistance 7% Ministry of Culture 5% State Budget Allocation by Organizations Ministry of Economy 8% Ministry of Finance 7% სხვა დანარჩენი II 28% 2 000, , , , , ,0 800,0 600,0 400,0 200,0 0, , ,4 820,0 675,7 595,0 585,2 Health Infrastructure Transfers Defence Education Ministry of Internal Affairs 491,3 290,3 170,0 139,2 120,0 State Debt Energy Agriculture Economy Prisons and Probation 962,3 Other Organizations Ministry of Finance 17

18 Million Gel % to GDP Ministry of Health, Labour and Social Protection Name Amount (Million GEL) Pension 1,058.4 Social Benefits , , ,0 21,9% 22,6% 24,0% 1 768,0 23,0% 1 641,6 22,3% 22,0% 22,0% Social Rehabilitation and Child Care 13.6 Health Insurance , , , , ,4 21,0% 20,0% 19,0% Other Health Programs ,0 18,0% Possible Deficit Funding of the Health Programs ,0 17,0% Rehabilitation and Equipment of Medical Institutions ,0 16,0% Other Expenses 56.8 Total Sum 1, , ,0% Allocations for the Ministry % to GDP The table doesn t include the donor funded projects, as per donor (Global Fund) request the majority of the projects under donor funds will be implemented by Non-Governmental Institutions in 2012 Ministry of Finance 18

19 Pension Reform Pensioners aged 67 and I Group Disability Beneficiaries Pensioners below 67 Pension Reform will be implemented from September 1, 2012 i.e.: Pension package for the pensioners aged 67 and more and I Group Disability Pension Beneficiaries will be worth of 140 GEL (incl. approximately 15 GEL Health Insurance); Pension Package below 67 will be worth of 125 GEL (incl. approximately 15 GEL); State Health Insurance for all pensioners; Pension Package will include pension, benefits for length of service, and insurance; Government will provide health insurance to the beneficiaries followed below in parallel to pension reform in order to develop health care system and assist its citizens in bearing health expenses: Children aged ,0 thousand beneficiaries; All pensioners by age and I Group disabled people - more than 690,0 thousand beneficiaries; Government together with private sector will continue rehabilitation/construction and equipping Medical Institutions in new/rehabilitated and well-equipped hospitals will be functioning for the end of the 2013; Ministry of Finance 19

20 Million GEL % to Total Budget Spending Ministry of Education and Science Name Amount (million GEL) School Financing Rehabilitation/Construction of the Public Schools 40.0 Providing Internet Access to Public Schools 5.4 Providing netbooks to first-year pupils ,0 600,0 500,0 400,0 469,9 7,0% 7,5% 519,9 552,5 7,4% 595,0 7,5% 8,0% 7,5% 7,0% 6,5% Providing School-Books to the Children of the Families under poverty-line ,0 Financing VET ,0 6,0% Supporting Tertiary Education 14.3 Scholarships to Students ,0 5,5% Supporting Student employment 15.0 Supporting Scientists 30.0 Other , ,0% Total Financing the Ministry % to Total Budget Spending Ministry of Finance 20

21 Million GEL სოფლის მეურნეობის სამინისტრო 120,0 Name Amount (million GEL) 120,0 Updating Agriculture Machinery 15.4 Intensifying Agriculture Industry 41.0 Modernizing Melioration Systems ,0 80,0 85,1 Supporting Consumption of the Agricultural Lands in Regions 20.0 Supporting Agro-Sector Development ,0 Popularization of Modern Technology, Agro-Products, Wine and Cuisine ,0 30,6 Supporting Vintage Process 5.0 Other 13.5 Total ,0 0, Plan Ministry of Finance 21

22 Million GEL Improving IDP Communal Conditions 413,5 million GEL was directed on IDP housing in ,0 202,9 IDP Housing (Rehabilitation/Construction) 96.2 million GEL was directed towards the above mentioned activities in 2012; 200,0 100,7 More than 38,0 thousand families (152,0 beneficiaries) were given new accommodation or compensation in recent years; 150,0 100,0 77,0 96,2 Providing Electro-Power Meters - 27,0 thousand customers 50,0 32,9 Providing Gas Meters - 11,0 thousand customers; 0, Ministry of Finance 22

23 Million GEL Road Infrastructure 600,0 500,0 400,0 168,0 172,6 212,0 126,2 300,0 200,0 212,3 167,4 335,4 371,4 362,8 373,3 100,0 0,0 62,6 101, Donor Funds Budget Funds Ministry of Finance 23

24 Road Infrastructure Name 2012 (Million GEL) Highway to Rikoti Tunnel(WB) Zestafoni-Kutaisi-Samtredia Highway (JICA) 91.0 Qobuleti Bypass Auto-route (ADB) 93.0 Tbilisi-Rustavi Highway (ADB) 49.3 Constructing tunnel through Gudauri-Kazbegi Road (ADB) 10.0 River-Bank Maintenance 5.0 Maintenance and Rehabilitation of Roads Total ფინანსთა სამინისტრო 24

25 წყალ-კანალიზაციის სისტემები 2012 წელს წყალ-კანალიზაციის სისტემების სარეაბილიტაციო სამუშაოების დასაფინანსებლად გამოყოფილია 194,7 მლნ ლარი; 200,0 180,0 194,7 გამოყოფილი თანხის ფარგლებში გაგრძელდება ბათუმის, ხელვაჩაურის და ქობულეთის კომუნალური ინფრასტრუქტურის რეაბილიტაცია; მესტიასა და ანაკლიაში განხორციელდება წყალმომარაგებისა და კანალიზაციის ქსელის მოწყობა; 160,0 140,0 120,0 100,0 80,0 58,8 100,6 ანაკლიაში დაიწყება კანალიზაციის გამწმენდი ნაგებობის მშენებლობა; 60,0 31,8 40,0 წყალ-კანალიზაციის სისტემების მშენებლობა- რეაბილიტაცია დაიწყება / გაგრძელდება ქუთაისში, ფოთში, ზუგდიდში და ურეკში; 20,0 0, ფინანსთა სამინისტრო 25

26 Municipal and Tourist Infrastructure Tourist Infrastructure will be developed and rehabilitated in: Mestia; Anaklia-Ganmukhuri; Goderdzi Resort; Zugdidi; Akhaltsikhe; Gori; Telavi; Borjomi; Bakhmaro; Kakheti Development Project will be launched (WB); Municipal Infrastructure Development will be continued in different regions and million GEL will be allocated for this reason (WB, ADB); 50,0 million GEL is allocated for the Country Side Support in In total 150,0 million GEL will be directed towards the program in Ministry of Finance 26