BAKU, Azerbaijan, Aug. 31
By Klavdiya Romakayeva - Trend:
The external state debt of Georgia in July decreased by $14.048 million compared to June, Trend reports referring to the Georgian media.
According to the statistics of the Ministry of Finance of Georgia, as of July, the external state debt of Georgia amounts to more than $8 billion.
In particular, Georgia must pay on obligations to such international organizations as the Asian Development Bank (ADB) - more than $401 million and over 626 million SDR (Special Drawing Rights), the Asian Infrastructure Investment Bank (AIIB) - more than $42 million and over 142 million euros, the Development Bank of the European Council - over 3.2 million euros and the European Bank for Reconstruction and Development (EBRD) - over 236 million euros.
Georgia also owes more than 809 million euros to the European Investment Bank (EIB), the European Union - more than 158 million euros, the International Bank for Reconstruction and Development (IBRD) - more than $861 million and more than 314 million euros, the International Development Association of the World Bank - more than 874 million SDRs, the International Fund for Agricultural Development - more than 32 million SDRs and more than four million euros, the International Monetary Fund (IMF) - more than 210 million SDRs and the Scandinavian Environmental Finance Corporation (NEFCO) - more than 2.3 million euros.
Among the countries, Georgia owes the most to Germany (over $811 million), France (over $657 million) and Russia (over $34 million). Georgia also owes Ukraine over $24,000.
The Parliament of Georgia in November 2020 approved the budget for 2021. Then it was planned that the total amount of debt will increase by 5.3 billion lari (more than $1.6 billion) and will amount to more than 32 billion lari (more than $10 billion - 60.1 percent of GDP). The government said that the increase in debt is associated with increased costs to overcome the consequences of the COVID-19 pandemic.
In July of this year, in connection with the economic recovery, the parliament adopted an updated draft budget, which envisages a reduction in the external public debt to 54.6 percent of GDP.
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