ECONOMY

Moody's improves outlook of Georgia's sovereign credit rating from negative to stable

27.03.24 13:30


The international rating agency Moody's has improved the outlook of Georgia's sovereign credit rating from negative to stable, and confirmed the rating at the Ba2 level.

 

According to the Ministry of Finance, the main reason for the improved outlook is the assessment of Georgia's vulnerability to geopolitical risks at a lower level.

 

"Strengths of the rating are high economic growth, resilience of the economy to shocks, strong institutional framework, fiscal stability and reduction of inflation."

 

According to the agency's assessment, the economic growth of Georgia in 2024 is expected at the level of 5.5 percent. According to the agency's expectation, fiscal stability will be firmly maintained in the future, which will ensure the maintenance of a low level of debt and a downward trend.

 

The downward trend of the current account deficit in recent years has been positively evaluated and it is considered that this is not a temporary but a structural improvement, which is the result of high fiscal discipline on the one hand, and the reforms implemented on the other hand," reads the information.

 

 

ipn.ge

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