PM Kobakhidze announces record foreign exchange reserves of USD 6.47 billion, vows continued efforts to sustain high economic growth

“We will actively pursue all avenues to maintain a high rate of economic growth, uphold strong fiscal consolidation, and further bolster our foreign exchange reserves. We are committed to doing our utmost in this regard,” stated the Prime Minister of Georgia, Irakli Kobakhidze, during a government session.

As the Prime Minister highlighted, amidst these positive developments, the National Bank of Georgia contributed to the increase in foreign exchange reserves by adding a further USD 154.2 million in April.

“Consequently, our reserves have reached a record level of USD 6.47 billion. The GEL exchange rate remains stable. We owe thanks to the entire economic team, including the government’s economic advisors, the National Bank, and its President. Moving forward, we will continue to work diligently across all sectors to sustain high economic growth, ensure fiscal stability, and further replenish our foreign exchange reserves. We are committed to doing our utmost to achieve these goals,” Prime Minister Kobakhidze affirmed.