Georgia’s gross external debt at the end of December 2024 was $25.18bn (74.5% of GDP) against $24.49bn at the end of 2023, according to a report by the country’s National Bank.
Consequently, the country’s external debt grew by 2.8% in 2024. Debt fell by 1.9% in the fourth quarter after rising by 3% in the third quarter.
In the overall structure, the government debt decreased by 3.4% (due to a 5.4% decline in the fourth quarter) to $8.37bn (24.8% of GDP). The debt of the National Bank was $811.6 million (down 7.2% year over year, down 5.8% in the fourth quarter), commercial banks – $8.35 billion (up 14.9% year over year, including 1.4% in the fourth quarter).
The external debt of the non-financial sector increased by 6.8% over the past year (a 0.2% decrease in the fourth quarter after a 5.9% increase in the third quarter), to $4.99bn.
Included in external debt, intra-firm lending at end-December 2024 totalled $2.66bn (down 12% over the year, including a 3% decline in the fourth quarter).
Georgia’s net external debt at the end of last year was $12.3bn (36.4% of GDP), including public sector net external debt of $6.4bn (18.9% of GDP).
In 2023, Georgia’s gross external debt increased by 2.2% after increasing by 7.8% in 2022.