Mikheil Kukava, Economist of PMCG declares, that Georgia will not improve its Sovereign Credit Rating with this pace for 2022-2023. The economist noted, that the country must do everything to improve its rating like Botswana.
"If the country develops at this pace in the future, there is no improvement in the sovereign credit rating. The sovereign credit rating also assesses the country's solvency, investment and general attractiveness of the country. For example, for people to move here. I always give the example of Botswana, as soon as its sovereign credit rating went up, the number of people wanting to immigrate to Botsvana immediately increased. Botswana is one of the most promising developing countries in Africa and the world,
Georgia has its sovereign rating at the BB level for a long time, and this also reflects unambitious reforms. BB Rating means that, we have to go from that level to AAA, otherwise we cannot attract quality investment. The most disappointing thing is that we do not see this as an opportunity for the development of the country and do not take bold steps. A number of countries have increased their debt levels and put that debt to good use, only after raising their sovereign credit rating, and then the same Botswana financed a lot of things with debt. And with the economy of democracy, it has actually equaled the countries of Western Europe," Kukva said.
