Media: Georgia’s external debt tops $26 billion

As of June 30, 2025, Georgia’s total external debt amounted to $26.5 billion, equivalent to 75.1% of the country’s Gross Domestic Product (GDP) over the past four quarters. 

The figures were published on the website of the National Bank of Georgia, Caliber.Az reports per Georgian media. 

The total external debt increased by $1.1 billion in the second quarter of 2025 - including a $74.8 million rise due to operational changes, $144.1 million due to other adjustments, $815.5 million due to exchange rate variations, and $18.6 million as a result of price changes. 

Out of the total, $11.5 billion accounts for government debt (32.4% of GDP), including $8.9 billion owed by the government, $821.1 million by the National Bank, $451.8 million in state enterprise bond obligations, and $1.3 billion in loans. 

The banking sector’s debt amounts to $9.1 billion, private enterprises owe $4.9 billion, and intercompany debt totals $2.7 billion. Foreign currency–denominated debt represents 87% of the total. As of June 30, 2025, Georgia’s net external debt stood at $13.8 billion (37.5% of GDP), including $6.8 billion in net public debt (19.2% of GDP).

By Khagan Isayev