Draft state budget increases pensions by GEL 60 for over-70s and GEL 20 for under-70s from 2027

The draft 2027 state budget is firmly oriented towards economic development, according to MP Paata Kvizhinadze, a member of the parliamentary majority.

“Economic growth is projected at 5 per cent, inflation at 3 per cent, the budget deficit at 2.5 per cent of GDP, and government debt at 31.6 per cent—metrics that stand among the strongest in our regional neighbourhood and across Europe. On the revenue side, the consolidated budget will expand by nearly GEL 2bn, with the state budget growing by GEL 1.2 billion. Virtually every ministry will see an increase in funding allocation,” Kvizhinadze stated.

Turning to social welfare provisions, Kvizhinadze explained that monthly pensions for individuals aged 70 and over will increase by GEL 60 to GEL 555; pensioners in the same age category residing in high-mountain settlements will receive GEL 665 per month. For pensioners under 70, the monthly state pension will rise by GEL 20.

“Disability allowances will increase proportionally. At this stage, public sector salaries are slated to rise by 8.4 per cent, though this remains an initial figure,” Kvizhinadze added.

Kvizhinadze noted that parliamentary committee hearings on the draft 2027 budget will commence on 5 October.

“Sectoral committees will examine these provisions alongside their respective ministries. Following this review, we will submit parliamentary recommendations on potential amendments to the government, allowing a revised draft to be presented in November. I must emphasise that this represents the initial baseline budget and will be scaled up during the second and third readings,” Kvizhinadze stated.