"PMC Research Center", subsidiary of "
Based on sustainability research of medium-term fiscal policy, the company said that slowdown of economic growth in 2013 was caused by objective as well as subjective factors.
Decline of consolidated budget expenditures exceeded one revenues, causing expected decline of budget deficit, the company pointed. According to the research authors, consolidated budget lost revenues of 539 million lari due to decline of revenues from VAT, while reduction of expenditures was a result of decreased spending for infrastructure, social assistance and consumption.
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