S&P Global Ratings Affirms Georgia’s Sovereign Credit Rating at ‘BB’ with a Stable Outlook

International credit rating agency S&P Global Ratings has affirmed Georgia’s sovereign credit rating at ‘BB’ and maintained the outlook at “Stable.”

According to the influential agency’s report, Georgia’s structural reforms have resulted in more prudent monetary and fiscal policies compared to its regional peers, contributing to an improved business environment. S&P Global highlighted the National Bank of Georgia’s policy of reserve accumulation.

The report notes that, supported by strategic net purchases, the country’s international reserves have increased in recent months, driven by strong tourism revenues and sustained financial inflows. The agency also assessed the resilience of Georgia’s banking sector, pointing out that it remains profitable with high levels of capitalization and solid liquidity buffers.

“In our view, strong supervisory capacity, sound corporate governance, and a high degree of transparency continue to support effective banking regulation in Georgia, broadly aligned with international standards,” the report states.

Looking ahead, S&P Global forecasts that inflation in Georgia will average 3.7% in 2025. At the same time, on the back of robust economic performance, the agency raised its projection for the country’s GDP growth to 7.1%.