The Georgian government borrowed 176 million GEL more domestic debt than determined by the budget in 2020. According to a document released by the state treasury, the volume of taken domestic debt amounted to 2.026 billion last year, instead of 1.85 billion.
However, in parallel with the grown domestic debt, the government borrowed less than planned foreign debt in 2020.
According to the budget, the debt increase should have been 6.19 billion GEL, instead the amount of transferred liabilities amounted to 5.26 billion GEL in the country, which is 930 million GEL less comparing to the planned volume.
Namely, the budget-supported foreign credit plan amounted to 5.15 billion GEL, of which the country received 3.84 billion GEL in commitments.
The loan plan for financing investment projects was 1 billion GEL, while the transferred resources in the country amounted to 1.41 billion GEL.
In total, the Georgian government made new commitments of GEL 7.28 billion in 2020.
According to the 2021 budget, the Georgian government plans to take a new foreign debt of 5.27 billion GEL. However, taking of domestic debt is not planned this year. As a result of the loan increase, Georgia's debt will reach 60% of GDP, and the budget deficit will be 7.5%.
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