The Prime Minister said at today’s government meeting that Ba2 is the highest rating among other international rating companies. Giorgi Kvirikashvili hopes that Georgia’s improved positions will be reflected in Standard & Poor’s and Fitch ratings as well.
“Our objective is to have investment rating in the 3B category as soon as possible to take the country to a new stage of investment world and make it easier and cheaper to draw credits from both sovereign and private sectors. It is also important that the outlook was appraised as Stable. I would like to repeat literally that in 2014-2016 the rating was improved after successful overcoming of the region’s challenges. According to Moody’s estimations, in that period Georgia’s averaged economic growth constituted 3.4%, while the economy of many countries in the region was in recession or at the brick of recession. We welcome that the company acknowledges the strength of our economy and institutions of our country – positive dynamics in the state economy, positive macroeconomic indicators, sustainable fiscal policy and implemented structural reforms that are being implemented as part of International Monetary Fund program.
It is also of crucial importance that the agency has positively appraised reforms aimed at reducing dollarization and growing larization”, the Prime Minister said.