Georgia’s Finance Ministry is assessing whether the country’s deposit insurance system could pose fiscal risks, First Deputy Finance Minister Giorgi Kakauridze told BMG in response to a question about a recommendation from the State Audit Office.
Kakauridze said that if the assessment identifies potential risks, they will be included in the government’s fiscal risk analysis document. If no risks are identified, no changes will be made to the document.
The State Audit Office has warned that the existing deposit insurance system may pose significant fiscal risks and recommended that the government’s fiscal risk analysis include information on potential liabilities arising from the scheme.
From January 1, 2027, the maximum insured deposit limit will double from GEL 50,000 to GEL 100,000. Deposit Insurance Agency head Levan Todua has said the increase reflects deposit growth and the banking sector’s strong profitability, while aiming to strengthen the fund’s resources so it can meet its obligations when needed.
