Georgian Finance Minister Lasha Khutsishvili on Friday said the Georgian government’s investment policy was built to create a healthy environment for investment and business. Lasha Kutsishvili made this comment at the meeting held within an economic forum organised by the Bank of Georgia and the analytical center Geocase.
Khutsishvili highlighted global financial ratings firm Fitch Ratings’ recently revised financial outlook for the country’s financial development from “stable” to “positive”. He noted the institution’s sovereign credit rating was “one of the most consistent and stable” assessments of a country's investment attractiveness.
“Statistics show that even one level of change takes at least several years, and the interval naturally depends on the progress achieved, and reforms implemented, during this period. Currently, our credit rating is rated at 'BB'", Khutsishvili said.
According to him, improvement of the credit rating requires progress in many directions at the same time.
"These directions are: macroeconomic stability and fiscal discipline, which have been our strengths in recent years, the quality of the country's governance, which also holds us in a leading position among countries with a similar rating, external vulnerabilities, where the country has made very significant progress in reducing in recent years, geopolitical risks and the country's income level, which is a long-term challenge and where investments have a very big role", said the Minister.
