External loan of Georgia increases

External loan of Georgia increases

As the National Bank informs, according to data of 30 June 2019, Georgia’s external loan has increased amounting to 7.5 billion USD (21.6 billion GEL).

Foreign debt equals to 46.9% of GDP, with this being a record high amount. Government sector’s debt is 5.4 billion USD (15.5 billion GEL), with the foreign debt of the National Bank amounting to 415.5 million USD (1.2 billion GEL), whereas the external loan of state-owned enterprises hits 826.4 million USD (2.6 billion GEL).

In accordance with The Organic Law of Georgia on Economic Freedom, the ratio of the external loan may not exceed 60% to GDP, with this implying that the Georgian government can freely borrow money in years to come. 

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