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Friday, January 27, 2023

Georgia: Budget 2023 to hike pensions and social benefits amount

Tbilisi: Lasha Khutsishvili, the Finance Minister of Georgia, in the budget of 2023, has increased pension and the amount of different social benefits. According to the Minister of Finance, the funding of social security programs has increased by 640 million GEL and 5 billion amounts to 340 million GEL, including:

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Tbilisi: Lasha Khutsishvili, the Finance Minister of Georgia, in the budget of 2023, has increased pension and the amount of different social benefits. According to the Minister of Finance, the funding of social security programs has increased by 640 million GEL and 5 billion amounts to 340 million GEL, including:

• Pensions and Compensations – more than 3 billion 150 million GEL;

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• Aid for targeted social groups – more than 1 billion 150 million GEL;

• Aid for people living in highland settlements – 85 million GEL;

• Child care and social rehabilitation programs – up to 70 million GEL;

• Employment promotion – more than 80 million GEL;

• Co-financing of a pension scheme – 310 million GEL;

• Social programs of municipalities – 290 million GEL.

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The increased budget includes:

• Increase of pension for people aged 70 and older by 65 GEL, taking into account:

The pension of people living in highland settlements, including the pension supplement specified by law, will be 438 GEL;

For the rest of the pensioners – 365 GEL;

• Pension of persons under 70 years of age increases by 35 GEL, taking into account:

The pension of people living in highland settlements, including the above-mentioned supplement, will be 354 GEL;

For the rest of the pensioners – 295 GEL;

• Assistance for severely expressed and disabled persons under 18 years is increasing by 65 GEL;

• Increase in aid of other categories of disabled persons by 35 GEL.

In addition to the above, it is noteworthy from the social point of view that construction of residential complexes on 7 thousand apartments for which 230,0 million GEL will be allocated in 2023.

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