"Unforeseen costs" - projects financed from the reserve fund

"Unforeseen costs" - projects financed from the reserve fund

In most cases, the Reserve Funds are financing the projects that have systemic character.

In 2018, the volume of Georgian Reserved Fund was decided based on the state budget and amounted to 50 million GEL. By the end of the year, due to changes made in the state budget law the fund was increased to 60 million GEL (20%). Finally, the actual amount of sum spent from the Reserve Fund amounted to 61.5 million GEL, which exceeded the original plan by 23%.

The biggest portion of funds allocated from the Government Reserve Fund falls on the Ministry of Justice (GEL 19.6 million) and the Central Election Commission (GEL 12 million).

According to the Budgetary Code of Georgia, “funds from the Reserve Funds of the President of Georgia and the Government of Georgia has to be allocated for the financing of unforeseen expenses.” However, the Audit Office indicates that in most cases there is an appeal for funding the duties that are systematic in nature and in the case of adequate planning it is possible to take them into consideration on the budget planning phase of appropriate spending institutions.

For example, every year the Reserve Fund allocates resources for the arrangement of 26 May event. For this purpose, in 2018, more than 3 million GEL was allocated, more than 1 million GEL in 2017, 1.5 million GEL in 2016 and 1.48 million GEL in 2015.

For years the government has funded the conference “Georgia’s European Way” in Batumi. The conference last year was financed by 200,000 GEL. In 2017 by 250,000 GEL, in 2016 by 255 000 GEL and in 2015 by 177 400 GEL.

The Reserve Fund finances the non-Georgian newspapers “Vrastan” and “Gurjistan.”  Namely, 120 000 GEL was allocated in 2018, another 120 000 GEL in 2017, 60,000 GEL in 2016 and 120,000 GEL in 2015.

The Reserve Fund also allocates the funds for subsidizing electricity to socially vulnerable population – Namely, 1.5 million GEL in 2018, 2.7 million GEL in 2017, 3.8 million GEL in 2016 and 1.1 million GEL in 2015.

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