According to GD’s Prime Minister Irakli Kobakhidze, the country’s high economic growth has made it possible to increase foreign exchange reserves to an unprecedented level. Speaking before the government meeting, he noted that this year the National Bank of Georgia purchased USD 103 million in foreign currency reserves, bringing total reserves to USD 5,808,000,000. Kobakhidze thanked the NBG President, Natia Turnava, for her work.
“High economic growth has given us the opportunity to increase our foreign exchange reserves to an unprecedented level. This year, the National Bank purchased USD 103 million in reserves, a historic record. In total, foreign exchange reserves reached USD 5,808,000,000, which is also a record high. I would like to once again thank the National Bank and its president for their effective performance.
Additionally, against the backdrop of economic growth and strengthened reserves, the credit rating agency Fitch upgraded Georgia’s sovereign rating outlook from negative to stable, which will further support the country’s economic development,” - Kobakhidze said.
