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Debt Georgia owes to Azerbaijan grows

Debt Georgia owes to Azerbaijan grows
Debt Georgia owes to Azerbaijan grows

After the GEL further lost value against the USD, debts Georgia owes to neighboring countries have grown in the national currency, and remained unchanged in the dollar.

According to the Finance Ministry, the data of 28 February 2021 show that Georgia owed GEL 16.8 million (USD 5 million) to Azerbaijan, while on 31 March 2021, the debt hit GEL 17.244 million. In January 2021, Georgia's debt to Azerbaijan stood at GEL 18.1 million, while on 1 December, the debt reached GEL 18.8 million.          

The same applies to the debts which Georgia owes to Turkey, Armenia, and Russia. 

If in February, Georgia owed GEL 32.5 mln (USD 9.7 million) to Turkey, in March the debt reached GEL 33.3 million. 

In the same month, Georgia's debt to Armenia was at around GEL 17 mln ( USD 5.1 million), in late March the debt stood at GEL17.4 million.

As for Russia, if in February Georgia owed its northern neighbor GEL 124.6 mln, now the debt stands at GEL 127.8 mln ( USD 37.5 mln). 

If compared to February, in March Georgia's external debt reduced by USD 104.881 mln and totaled USD 7.720 bln. However, the country's annual external debts have increased by USD 2.032 bln.

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