Standard & Poor's marks up credit rating of Georgia

On 12 April the international rating agency Standard & Poor's marked up long-term credit ratings of Georgia, RBC reports. The the forecast is "stable".

According to the S&P experts, the Georgian government is has focused on market-oriented reforms that could improve the country's economic and tax indexes in the medium-term outlook. Moreover, S & P analysts believe that the relatively low taxes and business-favorable environment will continue attracting investment to the country.

According to the experts of the rating agency,  GDP per capita in Georgia will continue growing faster than those of a similar rating category in the medium-term outlook.

"We do not expect  foreign direct investment to Georgian economy to reach a maximum rate of  about  2 billion euros, but we believe that their volume will be enough to maintain economic growth at quite  high level in the future,"the analysts said.

S & P experts do not rule out that a substantial fiscal consolidation, resumption of economic growth, foreign direct investment at a level close to pre-crisis one and relaxation of the geopolitical situation may increase  sovereign ratings of the country.