Georgian Lawmakers Approve Billionaire Ivanishvili’s Cabinet

Oct. 25 (Bloomberg) -- Georgian lawmakers approved billionaire Bidzina Ivanishvili’s Cabinet after his Georgian Dream coalition defeated President Mikheil Saakashvili’s ruling party in parliamentary elections last month.

Eighty-eight deputies in the 150-seat parliament in Kutaisi, the Black Sea nation’s second-largest city, voted in favor of the candidate, while 54 were against.

The vote confirmed Nodar Khaduri as finance minister, Giorgi Kvirikashvili as economy minister and Maya Fanjikidze as Foreign Minister. Former AC Milan soccer player Kakha Kaladze becomes energy minister.

Saakashvili, who came to power after the so-called Rose Revolution in 2003, steps down next year, when most powers will be transferred to the prime minister’ office, which will be held by Ivanishvili. The president’s United National Movement has 65 seats members in parliament, while Georgian Dream has 85.

To contact the reporter on this story: Helena Bedwell in Tbilisi at hbedwell@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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