The President of the National Bank of Georgia, Koba Gvenetadze, has responded to the improvement of sovereign rating of Georgia by S&P Global Ratings and positively evaluated the decision of the influential international rating agency.

“For international investors, the best indicator of improved macroeconomic stability and investment environment is international sovereign credit ratings. Therefore, it is welcome that our investment rating has been improved.

In addition to the measures taken by the government, the consistent policies of the National Bank have also made a significant contribution to the improvement of the ratings. According to the rating company, the accumulation of international reserves by the National Bank helps to reduce the risks coming from the external sector. The floating exchange rate and the independence of the National Bank are important positive factors for maintaining macroeconomic stability. As for dollarization, its high level remains a challenge, but with the joint efforts of the government and the National Bank, dollarization tends to decline, which will inevitably contribute positively to future improvements of ratings.

We hope that in a few years the country will be able to reach BBB – the so-called investment rating, which in turn will be an important factor for increase in investments and sustainable economic growth," Gvenetadze said.