05.Jul .2021 12:30

Foreign Debt Of State-Owned Enterprises Is 5.4 BLN GEL

Foreign Debt Of State-Owned Enterprises Is 5.4 BLN GEL
views 420
Back

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.