S&P Global Ratings has upgraded Georgia's sovereign credit rating from "BB-" to "BB" with stable outlook.

According to the Ministry of Finance of Georgia, the above is an important positive factor, which further enhances the confidence of international institutions and investors in Georgia and positively impacts the business environment in the country.

The rating company cites a significantly improved resilience to external shocks as the main reason for the credit rating improvement. The company notes that the government's efforts to promote and further improve the economy's resilience to external shocks will be the basis for high economic growth;

It should be noted that the rating company revised its economic growth outlook and increased it from 4% and to 4.5%;

According to the rating agency, Georgia will maintain high economic growth in the region compared to other countries.

The rating agency emphasizes the particular soundness of Georgia's institutional environment, making the country obviously a leader.

The agency also emphasizes the reduced dependence of Georgia on foreign funding. In their estimation, even if there is a significant decline in FDI, no particular pressure is expected on the exchange rate.

The country's domestic savings growth is positively estimated, rising from 11 percent to 26 percent from 2010 to 2018.