The rating agency "Fitch" has maintained to Georgia credit rating "BB-" with a positive perspective



Authoritative international rating company “Fitch Ratings” notes in published report, that Georgia's positive perspective is reinforced by the macroeconomic stability of the country and the circumstance that the Georgian economy has recently revealed sustainability towards foreign risks.

According to the evaluation of the Deputy Minister of Finance, Nikoloz Gagua, maintaining the rating for Georgia by Fitch Ratings is important, when there are high economic risks in the region.

According to the evaluation of “Fitch Ratings” the Georgian economy has shown stability towards foreign risks. There are several important factors singled out in the rating, namely: the business environment, which is by the evaluation of rating company positive and Georgia in this case outlined country among the countries having "BB" rating. Also decreasing tendency of budgetary deficit is important, on which indicates a rating company. According to the forecast of „Fitch Ratings” in 2018 – 2019 budgetary deficit in the country will be reduced to 2.6%, which is compatible with the goals of the more fiscal consolidation of the Georgian government, as well as with indicators of the countries having “BB” ratings. According to “Fitch Ratings” evaluation, maintaining a positive perspective in the rating, reflects from rating company the expectations of high economic growth in the country, "said the Deputy Minister of Finance of Georgia, Nikoloz Gagua.

According to him, the agency notes, that the obvious tendency of Georgia's fiscal deficit reduction will provide to maintain the debt on a stable level.

In the report of the rating agency also notes that the quality of state finances is high in the country and this direction continues to improve.

Also, it is important that in the report of the rating agency the inflation level and the forecast of “Fitch Recording” were assessed positively, which is consistent with the country's inflation target.

The agency notes that economic growth has contributed to the increase in tax revenue, which together with the reduction of ongoing expenditures allowed the country to implement more infrastructure projects.

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