Deputy Economy Minister: Gov’t’s economic policies have led to Moody's raising Georgia’s sovereign credit rating

Vakhtang Tsintsadze, the Deputy Economy Minister of Georgia, on Wednesday credited the economic policies of the Government with the international agency Moody's raising of the country’s credit rating.

Tsintsadze said the “stable outlook” reflected the fact that domestic policies kept risks “balanced” and the country had been able to “maintain high economic growth rates and economic stability” despite geopolitical shocks.

According to the assessment of the rating agency, the growth of the economy in 2024 will be within the limits of approximately 5.5 percent, and in the medium term it will be close to the potential level and will be equal to approximately 5-5.5 percent”, he said.

The Deputy Minister said leaving Georgia’s credit rating unchanged at the Ba2 level reflected the “strength” of its economic and fiscal policy and the “commitment” of economic institutions to their policy.

Tsintsadze added the Government’s priority was to “reach investment rating level”, which he said would bring the domestic economy to a “qualitatively new level”.

He said the achievement would “significantly increase the confidence” of both international and domestic investors and have a “direct proportional impact” on growth, creation of jobs, salary increases and other macroeconomic and social parameters.