Improvement of Georgia’s sovereign credit rating by the leading rating agency Standard & Poor’s, which happened for the first time since 2011, is a very clear recognition of the successful economic reforms carried out by our government over the years, – said Natia Turnava, Minister of Economy and Sustainable Development.

Turnava said the above was also a recognition that Georgia’s economy was developing rapidly and steadily across the region. “If we look at the dynamics of these ratings in the region, we will see that no other country in the region has such a clear improvement,” she said.

According to the Minister of Economy, Georgia’s success had earlier been recognized also by two other leading rating agencies – Moody’s and Fitch.

“And the improved ratings by Standard & Poor’s are the culmination of this process. Practically speaking, this recognition will increase the confidence of investors in Georgia. Both our local investors and international investors will invest more boldly in Georgia,” said Natia Turnava.

S&P Global Ratings has upgraded Georgia’s sovereign credit rating from “BB-” to “BB” with a stable outlook.