Public Debt (% of GDP) in Georgia

Public Debt in Georgia

The Public Debt (% of GDP) indicator measures the cumulative public liabilities as a share of gross domestic product – a key metric for fiscal sustainability and macroeconomic risk. Georgia reports public debt of 40% of GDP (2024) – score 49/100. This moderate level falls below the EU's Maastricht 60% limit and compares favorably with most emerging markets and several EU member states.

Debt Structure: Who Holds Georgian Debt?

• Multilateral creditors dominate: IMF, World Bank, ADB, EBRD, and EU are the largest creditors, providing concessional long-term loans at preferential rates.
• Low interest burden: Average interest rate below 4%, a clear sign of Georgia's creditworthiness.
• Primarily in foreign currencies: About 75% of debt is denominated in USD or EUR, creating exchange rate risk – if the Lari depreciates, the real value of debt increases.

IMF Assessment and Credit Ratings

The IMF's most recent Article IV report assigns Georgia a "moderate debt distress risk". Fitch rates Georgia BB (Stable Outlook); Moody's rates it Ba2 – both speculative grade but stable. For a country in Georgia's geopolitical neighborhood, these ratings are considered solid.

Conclusion: 40% GDP debt and score 49/100 reflect fiscal responsibility notable in the region. The favorable creditor structure, low interest burden, and recognized fiscal discipline make Georgia a reliable macroeconomic environment for long-term activities.

Created: 2026-04-14