Fitch Ratings praises Georgia’s fiscal policy
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Global rating agency Fitch Ratings praises Georgia’s fiscal policy, which was implemented in the country in November 2016.
The estimations of rating agencies are very important to attract more investments in our country,” said Georgia’s Finance Minister Dimitry Kumsishvili who is currently paying an official visit to the Unites States (US).
While in the US, Kumsishvili met Tony Stringer and Rochard Francis from Fitch Ratings’ top management.
During the meeting we have discussed the ongoing process in Georgia. The 10-point plan of Larisation, which should have a significant impact on the country’s economy was positively assessed at the meeting,” said the Minister.
Georgia’s macroeconomic situation as well as the main directions of the economic policy of the country were also the main topics of discussion during the meeting.
The United States government’s Overseas Private Investment Corporation (OPIC) significantly increases the investment limit for Georgia, says Georgia’s Finance Minister Dimitry Kumsishvili.
A delegation from the United States (US) government's development finance institution is in Georgia to negotiate terms of its latest $67 million support package for Georgia.
"Georgia continues to grow, overcomes external shocks"
Georgia is continuing to enjoy strong governance indicators by regional and rated peer standards despite facing external shocks, says global rating agency Fitch Ratings.
Global rating agency Fitch Ratings has revised the outlook of JSC Georgian Oil and Gas Corporation's (GOGC) long-term foreign and local currency Issuer Default Ratings (IDR) from stable to positive.
The International Monetary Fund (IMF) will strengthen its support to Georgia to help the country implement its ambitious reforms.
A Georgian delegation headed by the country’s Finance Minister Dimitry Kumsishvili has just returned from the United States (US) and brought promising deals from different financial institutions.
Global rating agency Fitch Ratings has revised the outlook on Georgia’s sovereign credit rating from stable to positive, announced Georgia’s Ministry of Economy today. The revision of the outlook to positive reflects the key rating drivers such as maintaining a stable macroeconomic environment, showing resistance to shocks and ensuring a favorable business environment.
Global rating agency Fitch Ratings has assessed Georgia’s Issuer Default Ratings (IDR) at 'BB-'. The outlook is positive, says Fitch. Fitch projects real GDP growth to average 4.8 per cent in 2019-2020, compared with 3.5 per cent across 'BB' category sovereigns.
Fitch expects Georgia's economic growth to increase in 2019 due to a pick-up in capital spending, which dipped last year while inflation is forecasted to remain in line with the central bank's target of 3 percent in 2019-2020.
“Georgia is the only country in the region to move up in the rating”
Georgian Prime Minister Mamuka Bakhtadze has responded to Georgia’s improved standing in the Fitch rating and noted that of particular import is the fact that Georgia is the only country in the region which moved up in the rating.