The National Bank of Georgia (NBG) has no objections to the government's proposed 2027 budget, NBG President Natia Turnava told Parliament. She said additional fiscal stimulus is unnecessary given the country's strong economic activity.
Turnava noted that the fiscal deficit is projected at 1.3% of GDP in 2026 and 2.5% in 2027, remaining below the 3% limit set by fiscal rules. Economic growth is expected to gradually normalise towards its long-term level of 5.5%.
The government’s debt-to-GDP ratio is projected at 31.1% in 2027. Turnava also highlighted a shift from external to domestic borrowing, saying a more balanced debt structure reduces Georgia’s exposure to exchange-rate fluctuations and changes in external financing conditions, strengthening fiscal stability.
