Georgia’s international foreign exchange reserves are projected to rise to USD 5.5 billion by the end of this year, according to Galt & Taggart economist Lasha Kavtaradze. Speaking on Business Morning, Kavtaradze said the National Bank of Georgia is expected to continue purchasing foreign currency in the final quarter of 2025.
“Our forecast for reserves has been updated. In September, the National Bank purchased USD 100 million in foreign currency, bringing total purchases for January–September to USD 1.6 billion, a solid figure,” he noted. “This activity raised the level of international reserves to USD 5.4 billion. Taking into account upcoming external debt service, we expect the year to close with at least USD 5.5 billion in total reserves.”
Kavtaradze added that the trend of reserve accumulation is likely to continue into 2026. “We believe the National Bank will have the opportunity to continue purchases next year, given expectations of a global weakening of the U.S. dollar. According to our forecast, Georgia’s international reserves could increase by an additional USD 500 million, reaching USD 6 billion by the end of 2026,” he explained.
The economist emphasized that maintaining robust reserves is essential for macroeconomic stability, exchange rate flexibility, and external resilience amid ongoing global financial uncertainty.
