NEWS

2018 data: How much did Georgia spend on debts?

Georgia’s domestic debt reduced by 11% compared to 2017, while the external debt increased by 8%. Photo: State Audit Office.

Agenda.ge, 22 Apr 2019 - 15:31, Tbilisi,Georgia

Georgia spent 2.4 billion GEL (about $0.89b/€0.79b) on both external and domestic debts in 2018, announces the State Audit Office of Georgia.

More specifically, 984 million GEL (about $365.12m/€324.62m) was spent on external debt, while 1.49 billion (about $0.55b/€0.49b) was spent on domestic debt last year.

See the budget monitor of the State Audit Office here.

Georgia’s domestic debt reduced by 11% compared to 2017, while the external debt increased by 8%.

Dynamics of public debt of Georgia. Photo: State Audit Office.

The State Audit Office said that Georgia will have the biggest expenditure for paying off state debt in 2021 and it will amount to 2.6 billion GEL (about $0.96b/€0.86b).

This year Georgia owes 19.8 billion GEL (about $7.35b/€6.53b), 78% of which is external debt.

During the current year Georgia will pay 1.8 billion GEL (about $0.67b/€0.59b) in debts.

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