Georgia’s foreign debt decreasing relative to GDP
By M. Alkhazashvili
(Translated by Diana Dundua)
(Translated by Diana Dundua)
Tuesday, April 1
Georgia’s foreign debt stands at around USD 1.8 billion as of February 29, according to the Finance Ministry, up from USD 1.7 billion a year previously.
But government officials point out that while foreign debt is increasing in real terms, it is decreasing as a percentage of GDP.
In January the Foreign Ministry announced that foreign debt had decreased from 44.9 percent of GDP in 2003 in 16.8 percent of GDP last year, and predicted the figure to decrease to 12 percent in 2008, according to the news agency RIA Novosti.
But government officials point out that while foreign debt is increasing in real terms, it is decreasing as a percentage of GDP.
In January the Foreign Ministry announced that foreign debt had decreased from 44.9 percent of GDP in 2003 in 16.8 percent of GDP last year, and predicted the figure to decrease to 12 percent in 2008, according to the news agency RIA Novosti.