...

Georgian 2021 budget bill calls for issuing new Eurobonds

Finance Materials 2 December 2020 14:06 (UTC +04:00)
Georgian 2021 budget bill calls for issuing new Eurobonds

BAKU, Azerbaijan, Dec.2

By Tamilla Mammadova – Trend:

The Government of Georgia plans to refinance Eurobonds worth $500 million, Trend reports via Georgian media.

The 2021 budget bill also calls for issuing new Eurobonds worth around 1.65 billion lari ($497.6 million).

On the whole, Georgia will have fund foreign liabilities by 3.148 billion lari ($949.5 million), including the principal sum of 2.76 billion lari ($832.5 million) and interest of 388 million lari ($117 million).

The Georgian state debt forecast margin will be 33.68 billion lari ($10.1 billion) at the end of 2021, including the top margin of state foreign debt – 27.73 billion lari ($8.3 billion) and domestic debts of 5.94 billion lari ($1.7 billion).

By the end of 2021, the Government’s margin debt amount will be 60.1 percent in GDP, while the current value of private cooperation projects as for January 1, 2021, constituted 0.7 percent in GDP. The sum is 60.8 percent, while the determined margin is 60 percent in GDP.

Next year Georgia will have a state budget of 18 billion lari ($5.4 billion) to use for state agencies, projects, and also to alleviate sectors of the economy affected by COVID-19. Out of the 18 billion lari ($5.4 billion) state budget, about 13 billion lari ($3.9 billion) is spent on ministries.

The Georgian government is going to borrow 5.3 billion lari ($1.5 million) from multilateral and bilateral donors and partners in external debt in 2021. However, increased domestic debt is not planned.

Some 3.1 billion lari ($935 million) will be spent on servicing external state debt, while 570 million lari ($171.9 million) will be spent on servicing domestic state debt.

---

Follow the author on Twitter: @Mila6197935

Tags:
Latest

Latest