Georgia Ranks 141St In Global National Debt, Reports IMF

2024-06-01 07:18:08

(MENAFN- AzerNews) Georgia ranks 141st out of 188 countries in terms of totalnational debt, said the International Monetary Fund, Azernews reports.

Data from the country's Ministry of Internal Affairs shows thatby the end of 2023, Georgia's government debt was 39.2 percent ofGDP.

As of December 31, 2023, the government debt stood at 32.6billion lari ($11.6 billion). In 2023, external debt rose by 1.407billion lari ($504.3 million), while internal debt increased by1.411 billion lari ($505.7 million). Overall, the debt grew by 2.8billion lari in 2023, but thanks to economic growth, it remained at39.2 percent of GDP.

Between 2013 and 2016, Georgia's government debt increased. Itslightly decreased in 2017-2018 to 38.2 percent of GDP, but thenrose to 40.0 percent in 2019. In 2020, the debt-to-GDP ratio jumpedby nearly 20 percentage points due to the pandemic, reaching 59.6percent. However, over the past three years, the situation hasreturned to pre-pandemic levels.

Sudan has the highest national debt, followed by Japan and thenGreece. The top ten also include the US, Argentina, Venezuela,Italy, and Singapore.

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