34.9% - The growth of public debt in relation to GDP

34.9% - The growth of public debt in relation to GDP

The ratio of household debt increases in relation to GDP. According to the National Bank, the indicator reached 36.7% in the IV quarter of 2018, which is the highest ratio for the last 3 years.

The average ratio for 2018 is 34.9%. In 2015, the household debt ratio was about 27% of GDP, in 2016 it rose to 32.1%, and in 2017 – to 33.4%.

Household Debt relation with GDP shows how high / low the share of loans taken from commercial banks and non-bank financial institutions is concerned with the GDP.

This indicator is much higher in Georgia than in the region. For example, in Armenia it is – 20% (2017); 15% in Turkey and 13% in Russia.

As for the ratio of payments to income, according to the NBG, now the average indicator is 14.5%, in 2017 -14.2% and 12.9% – in 2016.

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