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Georgian foreign debt amounts to half the GDP volume

2010-12-31 14:04

11994.jpegWell-known Georgian economist Merab Janiashvili has stated that Georgias foreign debt by 30 November 2010 was 3,9 bln dollars, which is 46% of GDP 2010.

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According to BaltInfo, Janiashvili reminded of the state debt growth in respect of GDP in the Georgian economy. In 2007, this figure was only 21,6 percent, he underlined.

We have presently exceeded the 40% bar. If the tendency goes on, the country will find itself on the verge of bankruptcy, - Janiashvili added.

As was reported earlier, Georgia foreign debt has grown by $36 508 000 USD compared to the figure as of October 31.
According to Georgian Ministry of Finance, the multilateral credits debt is $2 788 881 000 USD and the bilateral credits debt is $579 809 000 USD in the total debts volume.

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