Georgia gradually reduces foreign debt

Georgia will have a budget deficit of 3.7% in GDP ratio. Finance
Minister Dmitry Gvindadze said that the budget deficit shouldn't
exceed 3%, Business Georgia reports.


According to the law, Georgian foreign debt shouldn't exceed GDP by
60%. It currently stands at 43%.


Economic growth could allow foreign debt to drop in 2012. It is
forecast to drop gradually to 40%, 38% and 35%.

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