BAKU, Azerbaijan, July 5
By Tamilla Mammadova – Trend:
The total foreign debt of Georgian state-owned enterprises is $1.7 billion, or 5.4 billion lari, Trend reports via Georgian media.
The foreign debt of these companies consists of two parts. The first is Eurobonds, issued by state-owned companies, which amount to $797.1 million, or 2.52 billion lari. The second part is direct loans taken by these companies from international donors, the total of which is $925 million, or 2.94 billion lari.
The income of state-owned enterprises is lower than their total liabilities. In 2019, the total revenue of these companies was 3.24 billion lari ($1.02 billion). According to the 2021 budget report, in 2019 alone, the largest state-owned companies suffered a total loss of 237 million lari.
The financial results of state-owned companies are still unknown for 2020. Of these, only the financial results of Georgian Railway are published, which has lost 164 million lari ($52.03 million) last year.
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