Intention to Pay Dividends for 2010
Public debt: No burden to Public Finances
Georgia's economy is quite unleveraged compared to other
emerging market economies
Georgia's public debt is 40.8% of GDP in 2009 down from
58.0% in 2003
The external debt is all multilateral or bilateral and significant
share is highly concessional
This explains why the government debt service burden is low
Eurobonds debut issuance of US$500 mln in April 2008,
maturity date 2013
Breakdown of public debt
US$ billion
6.0
4.0
60.0%
46.1%
5.0
52.5%
50.0%
1.03
40.3%
32.8%
1.00
40.8%
40.0%
0.97
3.0
26.4%
30.0%
0.83
28.5%
0.85
0.89
0.85
4.15
2.0
20.0%
3.38
2.68
1.86
10.0%
1.73
1.70
1.79
10
1.0
External public debt service
US$ mln
180
8.8%
160
140
120
100
60
80
60
40
40
20
7.3%
7.1%
110.6
103.8
0
2004A
2005A
152.2
0.0
0.0%
2004A
2005A
2006A
2007A
2008A
2009 A
2010F
External public debt
Internal public debt
Total public debt as % of GDP
Source: "The Georgian Economy Overview", Government of Georgia Presentation,
Public debt as % of GDP, 2009
Russia
Turkey
10%
9%
Bulgaria
8%
Ukraine
7%
Lithuania
6%
5.20%
Slovak Republic
4.4%
5%
169.3
Georgia
4%
136.7
Poland
3.4% 118.7
3%
102.1
Latvia
2.9%
2%
Kazakhstan
Hungary
2006A
2007 A
2008A
2009A
1%
0%
2010F
External debt service External debt service as % of budget revenue
Source: "The Georgian Economy Overview", Government of Georgia Presentation, June 2009.
Labkon
BANK OF GEORGIA
www.bog.ge/ir
Estonia
Czech Republic
0% 10% 20% 30% 40% 50% 60% 70% 80%
90%
Source: World Bank, International Monetary Fund
October 2010
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