- Mom jailed over refusing son's circumcision makes tough call 2015-05-29 11:56
- Kerry sued over Hillary Clinton’s emails 2015-05-29 09:42
- A Website That Lets You Spy On Millions of People 2015-05-29 02:18
- Social Revolution In Ireland: 62% of Irish Voters Say YES To Gay Marriage 2015-05-29 02:11
- Killer robots will leave humans ‘utterly defenceless’ warns professor 2015-05-29 00:35
- Russian Air Force to Get at Least 50 New Strategic Tu-160 Blackjack Bombers 2015-05-29 00:21
- Chicago cops posed with black suspect wearing deer antlers 2015-05-28 13:40
Georgia to live in debts2011-03-23 16:16
In the opinion of Minister of Finance Kakha Baindurashvili, the country's development is impossible without external borrowings, - Novosti Georgia reports.gt-en-newsitem-inside
According to him, Georgia managed to overcome the consequences of the world financial crisis due to significant financial assistance in the amount of 4,5 bln dollars rendered to the country by western allies. One cannot imagine a country's economic growth without debts", - head of the ministry underlined.
"Georgia's state debt does not exceed 43% of GDP, external debt - 35%. In the long-term prospect, Georgia's purpose is to keep the foreign debt from exceeding 60% and, if possible, maintain the figure of 45%", - the minister said.
Meanwhile, the opposition and the independent experts believe that the real level of the country's foreign debt reaches 85%. The reports of the ministry convey only the data on the debt obligations of the country, not the private economic sector.