Kobakhidze: Foreign exchange reserves hit all-time high of USD 7.1 billion amid sustained economic growth

“Alongside economic growth, our foreign exchange reserves are rising, with the National Bank of Georgia working actively in this direction,” the Prime Minister of Georgia, Irakli Kobakhidze, announced during today’s cabinet meeting.

According to the Head of Government, the country’s foreign exchange reserves reached an all-time high of USD 7.1 billion last month. The Prime Minister expressed his gratitude to the central bank and its President for their successful operations.

“Last month, our foreign exchange reserves stood at USD 7.1 billion, which represents an historic peak. On an annual basis, our foreign exchange reserves have surged by 52 per cent. This is the direct result of economic success and the effective performance of the National Bank. I want to thank the National Bank and its Governor for their efforts and stewardship. Furthermore, their performance contributed to the strengthening of the Lari exchange rate in recent months, and we must do everything in our power to maintain these positive trends across our economy and financial sector,” the Prime Minister noted.