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.
