Georgia’s 2027 budget draft foresees pension increases, 8.4% rise in public-sector salaries

Pensions for people aged 70 and over are set to increase by GEL 60 to GEL 555 under Georgia’s preliminary 2027 state budget, parliamentary majority member Paata Kvizhinadze said on Wednesday.

For people aged 70 and over living in mountainous areas, the pension would rise to GEL 665, while pensions for people under 70 would increase by GEL 20.

Kvizhinadze said benefits for people with disabilities would also increase at the same rate. Public-sector salaries are preliminarily expected to rise by 8.4%, he added.

The MP stressed the 2027 budget draft is focused on development. It is based on projected 5% economic growth, 3% inflation, a budget deficit of 2.5% of GDP and government debt of 31.6% of GDP.

He said consolidated budget revenues are expected to increase by almost GEL 2 billion, while the state budget will grow by around GEL 1.2 billion, with funding increasing for practically all ministries.