BAKU, Azerbaijan, June 8
By Tamilla Mammadova - Trend:
To date, Georgia’s external debt has exceeded 18 billion lari ($6.05 billion), and by the end of the year it will increase to 22 billion lari ($7.3 billion), Trend reports citing the Ministry of Finance of Georgia.
The Georgian Constitution and the Act of Economic Freedom stipulate that the external debt of the country's government in relation to GDP should not exceed 60 percent. According to the latest data, currently, this indicator is 58 percent.
In total, the Georgian government plans to borrow 16.6 billion lari ($5.5 billion) via credits in 2020-2024.
Forecasted government figures for external debt are as follows: in 2020 - 7.1 billion lari ($2.3 billion); in 2021 - 3.4 billion lari ($1.1 billion); in 2022 - 2.1 billion lari ($706.09 million); in 2023 - 2 billion lari ($672.4 million); in 2024 - 2 billion lari ($672.4 million).
Compared to 2013, Georgia’s external debt is expected to triple in 2020.
Nevertheless, some experts believe that the amount of external debt is not alarming if it is spent wisely.
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