Ivane Machavariani, a candidate for Finance Minister declares, that debt which reached 60% of GDP must be reduced.
“We should try to reduce the debt as much as possible. So, the debt which reached 60% of GDP should be reduced from 2022 and return to the pre-pandemic level.
The law obliges us to keep the debt below 60%, so we must always follow the debt mark to have the necessary fiscal space to respond to a specific crisis, be it financial, economic or regional", - said Ivane Machavariani.
However, the state debt of Georgia will exceed the 60% of GDP as a result of mobilization of new debts. Debt levels should come down below 60% by 2023. According to the International Monetary Fund, now the state debt is 58.65% of GDP.
