The international rating company "Fitch" improved the outlook of Georgia's sovereign credit rating from stable to positive, and rated the rating at BB level.
Post-pandemic macroeconomic policies played a decisive role in improving the outlook, and by the end of 2022:
• reducing the government debt to the pre-pandemic level;
• reduction of fiscal deficit;
• Replenishment of international reserves.

This in turn has been reflected in higher economic growth and reduction in external vulnerabilities such as current account deficit and dollarization.
According to the assessment of the international rating company "Fitch", maintaining the improvement trend of these factors will be a prerequisite for the improvement of the rating to the BB+ level.
As in previous evaluations, the Agency considers the strengths of the rating to be:
• high quality of economic governance;
• Stable, reliable macroeconomic and fiscal policy.
Weaknesses still remain external vulnerabilities, however, these risks are decreasing year-on-year, which was the main reason for the improvement in rating expectations.
It is important that the current account deficit and dollarization trend are maintained, which will help to improve credit ratings in the future.
This means that the international rating company "Fitch" expects to improve the rating in the next evaluations, which will leave the country one step away from the investment rating.

Source: Ministry of Finance of Georgia

See detailed information: https://www.fitchratings.com/entity/georgia-85877873