The Problem of the Growth of Georgia's Public Debt during the Economic Crisis under the COVID-19 Pandemic

16 Pages Posted: 11 Feb 2021

See all articles by Vladimer Papava

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Vakhtang Charaia

Ivane Javakhishvili Tbilisi State University (TSU)

Date Written: January 26, 2021

Abstract

Among the many problems caused by the coronomic crisis is the quick and substantial growth of the public debts of states. This problem is pressing for Georgia as well. In order to overcome the problems caused by the COVID-19 pandemic, the Government of Georgia managed to attract external debt with the amount of USD 3 billion in spring 2020, half of which will be taken by the government itself and the other half by the private sector. The government was forced to take this step in order to at least partially alleviate the social and economic problems in the country.

Keywords: Public Debt, Economic Crisis, COVID-19 Pandemic, Post-Communist Georgia

JEL Classification: F35, G01, H63, I18, P35

Suggested Citation

Papava, Vladimer and Charaia, Vakhtang, The Problem of the Growth of Georgia's Public Debt during the Economic Crisis under the COVID-19 Pandemic (January 26, 2021). Available at SSRN: https://ssrn.com/abstract=3773635

Vladimer Papava (Contact Author)

Ivane Javakhishvili Tbilisi State University ( email )

1, Ilia Tchavtchavadze avenue
Tbilisi, Tbilisi 0179
Georgia
+995 32 222-0241 (Phone)
+995 32 222-5107 (Fax)

Vakhtang Charaia

Ivane Javakhishvili Tbilisi State University (TSU) ( email )

1, Ilia Tchavtchavadze avenue
Building I
Tbilisi, 0179
Georgia
+995-593-13-18-11 (Phone)
+995-32-222-5107 (Fax)

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