In the event of another shock to GEL exchange rate, there is a high probability that the public debt ratio will suddenly rise to 72% of GDP, if lari Depreciates by 30%.
According to the report of the State Audit Office of Georgia, the government of Georgia increases debt by 3.6 billion GEL in 2021. As of the draft budget 2021, it is planned to borrow 5.27 billion GEL in foreign debt next year. Consequently, in the event of another shock to GEL exchange rate, there is a high probability that the public debt ratio will suddenly rise to 72% of GDP.
Audit Service also published a report on the 8-month performance of the 2020 budget. The document reads, that the remains of the state debt increased by 1.84 billion GEL.
During 2020, the national currency depreciated by 13.6% against the USD, while by 19% against EUR. However, most of Georgia's foreign loans are nominated in these two currencies.
See all the news
Kazakhstan’s Share of Bitcoin Mining Increases Sixfold Surging to Third Place Worldwide
Israel Bans Travel In Georgia From July 30
Novartis Prostate Cancer Drug Receives U.S. FDA Breakthrough Designation
Mymarket-ის აპლიკაცია ჩაშვებულია!
The Success of 5 Georgian Wines at Sommeliers Choice Awards 2021
მანინო უწერა - ახალი სასტუმრო რაჭაში
სილამაზის ინდუსტრიის გამოწვევები და #AVON-ის ფინანსური მაჩვენებლები
Investors in Georgia discover that Ease of Doing Business rankings can be deceptive
Baia Kvitsiani to Replace Mariam Kvrivishvili In The Parliament
Who Is Vazil Hudak?
PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI
Exclusive Follow-Up/Interview with Selim Cakir, IMF Representative in Georgia
Czech Development Agency Delegation to Visit Georgia
GNCC demands reversal of a transaction on which they don’t have a jurisdiction - Law Professor
ფარმადეპო: „მედიკამენტები 1 ლარად“ - ქეთი კოზმანაშვილი ქალების ნარატივში
Georgia amends transfer pricing rules for APAs, reduces thresholds
We paid for 100% of shares of Caucasus Online in 2019 - NEQSOL Holding
“Only the courts have the right to determine the legality of the purchase of Caucasus Online", - NEQSOL Holding
Top-10 Major Commodity Groups by Exports – what does Georgia sell abroad?