Investor Presentaiton
Fiscal consolidation – high on the agenda
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Fiscal deficit and public debt
Consolidated budget tax revenues, GEL m
2020
2021 2022
-Fiscal balance as % of GDP
-Total public debt as % of GDP
1,800
+33.9% y-o-y growth in 1H22
60.2%
Public debt/GDP capped at 60%
1,600
40.3% 38.9%
49.5%44.6% 42.5%
1,400
36.7%
28.3% 29.5%
45.3% 43.7%
39.4% 40.4%
1,200
31.9%
31.0%
28.8%
1,000
800
-2.0% -1.9% -2.4% -2.7% -2.1%
-1.7% -2.6% -2.8% -2.3%
-2.8% -2.3%
600
-2.3%
-3.6%
400
-5.3%
-6.1%
-9.3%
200
2010
2011
2012
2013
2014
2015
2016
2017
2018
Source: MOF, GeoStat, forecasts as of 2022 budget law.
Note: Deficit calculated as net lending / borrowing minus budget lending.
2019
2020
2021
2022F
2023F
2024F
2025F
Source: MOF.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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