Minister: Georgia’s domestic debt to be 600 million lari in 2014

Photo: Minister: Georgia’s domestic debt to be 600 million lari in 2014 / Business News

Tbilisi, Georgia, Dec.3
By Nana Kirtzkhalia - Trend:

Georgia's domestic debt will amount to around 600 million lari ( $1=1.69 lari) in 2014, Georgian Finance Minister Nodar Khaduri said at a press conference on Dec.3.

Initially, some 400 million lari of debt was planned, but the budget for 2014 envisages the issuing of treasury bonds of 600 million lari, according to the minister.

Around 400 million lari of this amount will be spent on the state budget needs and some 200 million lari will be placed on deposits of the commercial banks so that they would be able to give long-term investment loans, Khaduri said.

The Ministry of Finance, the Ministry of Economy and the National Bank have quite interesting calculations and the increase of the credit resources by 200 million lari will benefit the country's economy.

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