17.Jan .2022 16:00

Georgia To Get Out Of Debt In 2022 – Minister

Georgia To Get Out Of Debt In 2022 – Minister
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2022 will be quite positive for our country. The previous year has created this base with its double-digit economic growth and accelerated recovery of tourism, - Economy Minister Natia Turnava has declared. As the minister notes, the government expects at least 6% economic growth this year, GEL stability, final revival and recovery of tourism, as well as macroeconomic stability.

According to her, Georgi plans to reduce foreign debt this year. As of 3Q21, the government of Georgia owned a debt of USD 7.7 billion, according to the central bank of Georgi (NBG).

“Georgia will start to get out of debt in 2022, we plan to reduce high government debt from 60% to 50% of GDP, which has significantly increased amid the pandemic. It is a positive statement.

We have positive expectations about reducing inflation, we expect prices to go down after the first quarter. Inflation will slow down and return to normal by the end of the year.

It is important for us to maintain macroeconomic stability, which should be ensured with political stability. We do not expect elections and we will not allow political excesses, which also creates positive expectations for business. All these have a good affect on the stability of GEL and curbing inflation," Natia Turnava said.