ECONOMY
18.02.20 13:00
Global rating agency Fitch Ratings is keeping Georgia’s sovereign credit rating at ‘BB’ with a stable outlook.
Fitch notes that Georgia’s sovereign credit rating is more stable than the median of the BB category countries with its high-quality governance, attractive investment, business environment and macroeconomic stability in the face of regional shocks.
The report writes about the increased export of Georgia to major partner countries (Azerbaijan, Russia, and Turkey) which was due to diversification of the export market and the depreciation of the Georgian lari.
Fitch writes that the current account deficit (a measurement of a country’s trade in which the value of the goods and services it imports exceeds the value of the products it exports) hit its historical minimum and was 4.5 percent of the gross domestic product (GDP).
Fitch forecasts a 4.1 percent deficit of the current deficit for 2020, while it forecasts a 4.2 percent deficit for 2021.
Fiscal deficit (a shortfall in a government's income compared with its spending) was 2.2 percent in 2019, notes the report adding that it is less than the median of the BB category countries.
The report notes that the Georgian banking sector is healthy and well-capitalized.
Fitch Ratings Inc. is an American credit rating agency. It is one of the "Big Three credit rating agencies", with Moody's and Standard & Poor's.
source: AGENDA
Read: 100
Write comment
(In their comments, readers should avoid expressing religious, racial and national discrimination, not use offensive and derogatory expressions, as well as appeals that are contrary to the law)
News feed
-
The struggle of two empires for Georgia - the heat of events is only accelerating
20:4904.05.24
-
Georgian Parliament holds yellow security level
12:0903.05.24
-
18:0002.05.24
-
Georgian Parliament Speaker, EU official review cooperation, integration
17:3202.05.24
-
US State Department condemns foreign influence bill advanced in Georgian Parliament
16:4002.05.24
-
Georgian Economy, Finance Minister review cooperation, projects with World Bank Executive Director
16:0002.05.24
-
15:0502.05.24
-
14:2902.05.24
-
13:5202.05.24
-
Austrian Airlines launches Vienna-Tbilisi flights
13:0002.05.24
-
12:1002.05.24
-
Health Ministry: Eight hospitalized during protest, patients' health conditions are satisfactory
11:2202.05.24
-
Ursula von der Leyen: Georgian people want European future for their country
10:1602.05.24
-
Is Echmiadzin opposed to peace in the South Caucasus? Once again...
18:5701.05.24
-
Georgian Parliament official highlights “threats” of external interference among “European public”
18:0001.05.24
-
17:0801.05.24
-
16:2701.05.24
-
15:2701.05.24
-
Josep Borrell Responds To The Situation In Georgia
14:4301.05.24
-
Tbilisi Mayor says Europe needs worthy, strong states
14:0001.05.24
-
Georgia imported 265 tons of lentils in January-March
13:3101.05.24
-
12:5001.05.24
-
12:0501.05.24
-
11:3101.05.24
-
10:5001.05.24
-
Yellow level of security regime to be again in effect in Parliament today
10:1601.05.24
-
Armenians in the Ottoman Empire: What Was, What Could Have Been and Today's Reality
7:5501.05.24
-
18:0530.04.24
-
Vice-President of the European Commission: I advised Ilia Darchiashvili to review our directive
17:1030.04.24
-
The Parliament elected Giorgi Kalandarishvili to the post of CEC Chairman
16:1530.04.24
-
15:4030.04.24
-
According to the government's decree, May 7, 8, and 10 were declared public holidays
13:5930.04.24
-
13:2130.04.24
-
Geostat: Georgia's economy grew by 8.2% in March
12:5030.04.24
-
President: Today, some people want to portray our 30-year-old allies and partners
12:0530.04.24
-
Georgian PM says “no alternative” to opening EU accession talks with country this year
11:3230.04.24