Presenting next year's budget in the parliament, the official said financial bodies would take on more internal debt - obtained by issuing treasury bonds and treasury obligations - to keep external debt at a “safe level” and further curb it. 

Responding to criticism on the preference of the “more expensive” internal debt, he told lawmakers external debt was also related to currency risks.

The government has plans to take on GEL 3.6 billion ($1.3 bln) in debt next year, of which GEL 1.4 billion ($511 mln) will be internal and GEL 2.2.billion ($802 mln) external. This would mark an increase by GEL 100 million ($37mln) in the former and a reduction by GEL 100 million in the latter.