Georgia boosts foreign exchange reserves to $6 billion

Georgia has increased its foreign exchange reserves to $6.16 billion, marking an annual rise of nearly 6%, the National Bank of Georgia said.

According to the central bank, the country’s foreign currency holdings grew by $342 million over the past year, Caliber.Az reports per foreign media.

The bank purchased more than $2 billion in foreign currency over nine months, contributing to the increase.

Gold accounts for more than 16% of Georgia’s reserves, with the nation holding approximately $1 billion in the precious metal.

Earlier, Deputy Minister of Economy and Sustainable Development Vakhtang Tsintsadze outlined ambitious plans for Georgia to become a global leader in economic growth by 2030.

By Aghakazim Guliyev