(MENAFN- Trend News Agency) TBILISI, Georgia, May 4. Georgia's total publicdebt is quite stable and is about 40 percent, head of ADB'sregional cooperation department for Central and West Asia, LyazizaSabyrova said during the briefing at ADB's annual meeting inTbilisi, Trend reports.
“We are looking at real numbers, not nominal numbers, becausethe nominal inflation rate is coming down, but the discount rate isstill there. The real interest rate is still positive, and that, ofcourse, leads to a higher cost of capital for businesses in theprivate sector. But from a macroeconomic point of view, theMinistry of Finance of Georgia and the Ministry of National Economyare doing a very nice job. So far, for example, the total debt isquite stable and is around 40 percent,” she said.
According to her, in fact, the situation has returned to thepre-pandemic level, which is a good sign.
“And the overall deficit is also about 3 percent. These are whatwe call boring indicators, and that's a good thing. We don't wantany volatility, high excesses, or shocks. We have enough shocks,external shocks, and the goal of the government is to smooth it outand reduce vulnerability and uncertainty for the private sector andfor the economy,” Lyaziza Sabyrova explained.
A meeting of the Board of Governors of the Asian DevelopmentBank kicked off today in Tbilisi. The opening marks the officialstart of the ADB's annual meeting. The event is attended by a guestof honor from the organizing country.
To note, the theme of the 57th Annual Meeting, which will beheld from May 2 to 5, is "Bridge to the Future."
The annual meeting is an opportunity for ADB Governors toaddress development issues and challenges facing the Asia-Pacificregion. Several thousand participants regularly join the meeting,including finance ministers, central bank governors, seniorgovernment officials, private sector representatives,representatives of international and civil society organizations,youth, academia, and the media.
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