Foreign Debt Of State-Owned Enterprises Is 5.4 BLN GEL

21:50 Sun, 05 February

GEO

USD

$ 2.6441

EUR

€ 2.8913

GBP

£ 3.2411

RUB

₽ 0.0375

TRY

₺ 0.0014

AZN

₼ 0.0156

XRP

0.3990

05.Jul .2021 12:30

Foreign Debt Of State-Owned Enterprises Is 5.4 BLN GEL

420

Back

Author:Natia Taktakishvili

The total foreign debt of state-owned enterprises is $ 1.7 billion, or 5.4 billion GEL. The foreign debt of these companies consists of two parts. The first is Eurobonds, issued by state-owned companies, which amount to $ 797.1 million, or 2.52 billion GEL. The second part is direct loans taken by these companies from international donors, the total of which is $ 925 million, or 2.94 billion GEL.

The income of state-owned enterprises is lower than their total liabilities. In 2019, the total revenue of these companies was 3.24 billion GEL. According to the 2021 budget report, in 2019 alone, the largest state-owned companies suffered a total loss of GEL 237 million.

The financial results of state-owned companies are still unknown for 2020. Of these, only the financial results of Georgian Railway are published, which has lost 164 million GEL last year.

Georgian Railway Government of Georgia financial report foreign debt State-Owned Enterprises