GEORGIAN STATE BUDGET LACKS $130 MILLION

TBILISI, January 2 (RIA Novosti) - The revenues of the Georgian state budget proved almost 130 million dollars less than planned. According to information agency Novosti-Georgia, on results of the first eleven months of 2003, allocations to the state budget, including grants, are realized 75% from the yearly forecasted figure. The state budget revenues totaled 383.8 million USD, which is 129.2 million less than planned.

The overall volume of Georgia's state debt and credits taken under state guarantees, as of December 1, 2003, is 1.8 billion dollars.

Georgia has 15 creditor countries out of whom 12 fall under the decision of the Paris Club on restructuring the foreign debt, as well as five creditors - international financial institutions.

In case the Georgian government reaches an agreement with the International Monetary Fund and the Paris Club, Georgia will have to pay 144 million dollars on its foreign debt for 2003. In the event there is no agreement at the talks due to be held in the end of the first half of 2004, payments will increase to 193 million dollars.

Besides talks on the extension of the preferential system of payments for 2003, Georgia will have to raise the issue of a third restructurization of the foreign debt before the creditors, as in 2004 the country will have to pay on its debts around 205 million dollars.