Fitch revises outlook on Georgia to positive

Global rating agency Fitch Ratings revised its outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the rating at BB-, citing favorable growth prospects. 

The ratings firm estimates that Georgia’s economy grew 4.8% last year, a sharp rise from 2016's 2.8%, the Wall Street Journal reported.

Fitch projects Georgia’s real GDP growth will clock in at 4.6% and 4.9% in 2018 and 2019, respectively, "supported by a favorable external environment and higher domestic demand driven by an increasing government drive towards higher capital spending."