Georgia’s gross external debt reached $21.8 billion as of December 31, 2021, accounting for 116.8% of its 2021 annual gross domestic product (GDP), the National bank of Georgia (NBG) announced.
In the fourth quarter of 2021, the gross external debt of Georgia increased by $775.7 million. In the public sector, the external debt was $10.7 billion, or 57% of GDP.
Public sector debt was divided as follows: general Government debt – $8 billion (42.5% of GDP), external liabilities of the NBG – $954.1 million (5.1% of GDP), bonds of public enterprises – $503 million (2.7% of GDP) and loans of public enterprises – $1.2 billion (6.6% of GDP).
The banking sector’s external debt is estimated at $4.6 billion, or 24.5% of GDP. The data also show intercompany lending equaling $3.5 billion.
A total of 90.7% of the gross external debt of Georgia is denominated in foreign currency.
The net external debt of Georgia amounted to $13.3 billion, or 71% of the annual GDP of 2021, while the net public sector external debt totaled $6.3 billion, or 33.9% of GDP. (Agenda/Business World Magazine)
