Ministry of Finance has revealed the state debt was at USD 3.5 billion by the end of year 2019.
According to statistics publicised by the finance ministry, the government debt was equivalent to 62% of the country's Gross Domestic Product (GDP) which surpasses the 60% GDP throttle stated in law. As per the statistics, the debt of USD 3.5 billion is a significant increase compared to the USD 3.12 billion from the year before. Of the USD 3.5 billion, USD 1.43 billion was foreign debts.
The information publicised indicates USD 824 million have been sovereign guarantees, of which USD 766 million were foreign loans. The rest are loans taken from local parties under sovereign guarantees.
The total state debt by the end of 2019 inclusive of sovereign guarantees is USD 4.35 billion, which is 76% of the GDP. This includes USD 2.19 billion in foreign loans and USD 2.15 billion as loans from local financing institutions.