EU support might decrease

At the Brussels donor conference EUR 450 million was allocated as support for Georgia. The European Commission has committed itself to allotting Georgia EUR 45 million. However most probably the promise to start transferring this money in the third quarter of this year will not be kept. There is a critical situation in some other countries too, so probably Georgia’s chances of receiving this sum have been diminished.

The Ministry of Finance of Georgia says that the correction concerns the amount promised by the European Commission not the donors and the amount has not been decreased, it is merely the transfer of it which has been delayed. If the amount transferred in 2009 is smaller than anticipated Georgia will be reimbursed next year, states Deputy Finance Minister Dimitri Gvindadze. Some independent analysts however say that any cut or delay in the money designed for the rehabilitation of Georgia’s economy will be the consequence of incorrect expenditure of the money already received.