PM Kobakhidze: Georgia’s foreign-exchange reserves hit historic high

Georgia’s foreign-exchange reserves have reached an all-time peak of $5.8 billion, Prime Minister Irakli Kobakhidze announced at a government meeting.

The prime minister said strong economic growth allowed the National Bank to boost its foreign-exchange reserves to an unprecedented level, Caliber.Az reports via Georgian media.

“This year, the National Bank purchased $103 million in reserves, a historic record. In total, foreign exchange reserves reached $5,808,000,000, which is also a record high,” Kobakhidze said.

He added that in 2024, Georgia’s international reserves decreased by 562.1 million lari ($208 million), while in 2023 they increased by 101.5 million lari ($37.6 million) and in 2022 grew by $628.1 million, according to his remarks.

Kobakhidze also highlighted that on the back of economic expansion and strengthened reserves, Fitch Ratings upgraded Georgia’s sovereign rating outlook from negative to stable, a move he said will support future economic development.

Fitch affirmed Georgia’s long-term foreign-currency issuer default rating at “BB” while improving the outlook.

According to Fitch analysts, Georgia’s economy grew 7.8% year-on-year in the first three quarters of 2025, with expectations of 7.3% growth in 2025, 5.3% in 2026, and 5% in 2027.

By Jeyhun Aghazada