Budgetary revenues in the first seven months of 2007 exceeded the forecasted GEL 2.9 billion (about USD 1.7 billion) by over GEL 163 million (about USD 97.6 million), the Finance Ministry said on August 2.

Revenues in January-July, exceeding GEL 3.1 billion (roughly USD 1.85 billion), were up 42.2%, against the same period of 2006, the ministry said.

Parliament approved in June a proposal to increase state spending by up to GEL 600 million in 2007, bringing total forecasted expenditure to about GEL 4.6 billion (approximately USD 2.7 billion).

The lion's share of the increased funding – GEL 442 million (USD 263 million) out of GEL 600 million – went to the Defense Ministry, bringing the 2007 defense budget to GEL 955.3 million (USD 568.6 million).