H.E. Nodar Khaduri, Minister of Finance of Georgia spoke about the sovereign rating of Georgia released by Moody’s international rating agency today at a press briefing held at the Ministry of Finance on March 13, 2015.
In his opinion, it is a very positive fact that Georgia’s rating (at BB-) and positive outlook have been maintained by Moody’s irrespective of the economic hardship in the region. Economic growth in Georgia is projected by Moody’s to reach 3.5% in 2015.
According to the Minister of Finance of Georgia, Moody’s based its judgement on the following achievements of Georgia:
• Solid economic growth trend and outlook;
• Progress reached in developing political, economic and social initiatives;
• Effective fiscal and monetary policies.

As noted in the report released by the international rating agency, Deep and Comprehensive Free Trade Agreement (DCFTA) signed with EU, with respective approximation with EU standards will substantially facilitate the further development in Georgia.
Report also states that public debt of Georgia is low and is characterized with rather concessional terms and conditions.
DCFTA is reported to be a very supporting factor for attracting additional foreign direct investments (FDI) and is perceived to boost the export potential, thus strengthening international trade position of Georgia in a mid-term perspective.
Report also explains what factors may degrade the country’s rating in future:
Considering the country’s positive outlook, it is less likely that rating will be degraded. Nevertheless, external vulnerabilities or geo-political situation may affect the outlook, economy and external trade position of Georgia.

Moody’s Ratings for other countries:
• Russia (Ba1/Negative) – Degraded;
• Azerbaijan (Baa3/Stable) – Not published yet;
• Armenia (Ba3/Negative) - Degraded;
• Moldova (B3/Stable) - Not published yet;
• Ukraine (Caa3/Negative) – Degraded.