Georgia's Acting National Bank Governor highlights country’s economic opportunities with global investors

Natia Turnava, the Acting Governor of the National Bank of Georgia, on Monday met with investors from American and global investment companies, including representatives from Morgan Stanley, Bank of America, and Janus Henderson Investors, to showcase the country's “economic strength” and opportunities for foreign investment.

During the meeting, held in Tbilisi, the NBG team highlighted the country's “resilience”, emphasising the sustainability of its economy backed by “strong fundamentals” and financial stability, the Bank said.

The meeting noted inflation in the country had remained below the target rate of three percent for the past 19 months due to “effective” monetary policy measures of the central bank.

Furthermore, the meeting underscored the country’s “robust” economic growth, with projections indicating an average growth rate of 9.8 percent for September-October.

Turnava provided investors with an overview of Georgia’s banking sector, highlighting the sector was in a “healthy condition”, with non-performing loans at a low level and profitability remaining high.

Efforts to reduce dollarisation in the banking system were also discussed, as these measures contribute to maintaining financial stability and promoting sustainable growth in the economy, the NBG said.

Turnava said Georgia valued the “longstanding relationship” with the United States and the “trust” it received from the US investors, highlighting foreign direct investments from the country had reached $182 million last year.

Presentations were also delivered by Shalva Mkhatrishvili, the Head of the Macroeconomics and Statistics Department of NBG, and Davit Utiashvili, the Head of the Financial Stability Department, with a focus on the stability of the country’s financial markets and macroeconomic landscape.