Bakhtadze: Georgian economy now more competitive

Bakhtadze: Georgian economy now more competitive

Georgia's Prime Minister Mamuka Bakhtadze has responded to Georgia’s improved standing in the Fitch rating. 

According to him, the promotion in the international rating agency means that the Georgian economy is now more competitive and the country will be able to attract more investments and create more jobs.

The PM said that this rating is a clear example for him that "we will achieve success in our main strategy and make Georgia an economic centre of the region”.

"This is unambiguous support that the government of Georgia is implementing the right economic policy… and I want to sort out the larisation strategy… every reform or initiative that is implemented by our government aims to create stable fiscal and microeconomic environment that will further affect positively to the rating," cited Bakhtadze as saying.

Fitch has upgraded Georgia's rating to 'BB' from 'BB-'. The outlook is stable. Fitch explained the upgrade was due to the trend that the Georgian economy had proved resilient to negative developments in 2018.