16.Nov .2021 13:00

Gov’t Not To Take Small Investment Loans In 2022

Gov’t Not To Take Small Investment Loans In 2022
views 273

Georgia takes billions of dollars foreign debt every year. The government of Georgia spends part of the funds to finance ongoing investment projects in the country, including the construction of highways, new tunnels and etc. However, a number of loans are approved, which amount is less than GEL 30 million.

The Ministry of Finance published a public debt management strategy for 2022.

According to the document, the government will not take loans to finance small investment projects in 2022, as such projects will be funded directly from the state budget. In addition, a detailed study of the effectiveness of each loan will be conducted in the future.

Georgia's public debt currently stands at GEL 30.81 billion, of which 25.27 billion is foreign debt and 5.54 billion is domestic debt.