Fitch Ratings has improved the outlook for Georgia’s sovereign rating to positive

Rating change and assessment

International rating agency Fitch Ratings confirmed Georgia's sovereign rating at the "BB" level on October 30, 2026, and improved the rating outlook from "stable" to "positive." According to the agency's document, the country maintains economic and fiscal sustainability, despite geopolitical risks and rising energy prices. Imedi+4

According to data from the National Bank of Georgia, international reserves reached 8.2 billion US dollars in September 2026. Fitch Ratings estimates that the growth in reserves is driven by a reduction in the current account deficit, capital inflows, and prudent monetary policy. Imedi+5

Assessments by officials

According to Deputy Minister of Finance Ekaterine Guntsadze, the change in the rating outlook was driven by the improvement of external sector parameters. Deputy Minister of Economy and Sustainable Development Vakhtang Tsintsadze noted that this decision confirms the country's correct macroeconomic policy. First Vice-Governor of the National Bank of Georgia Ekaterine Mikabadze stated that this is an acknowledgment of the National Bank's consistent policy. Imedi+7

Context and significance of the rating

According to Radio Liberty, Georgia remains in the "BB" category, which means a non-investment, so-called speculative rating. The agency's positive assessment of the outlook indicates a possible improvement in the rating, but does not mean an increase in the rating itself. Over the last three years, Georgia's rating has not changed, although the outlook has been stable, negative, and positive at different periods. Radio Tavisupleba