According to the Ministry of Finance of Georgia, on October 30, 2026, credit rating agency Fitch Ratings reviewed Georgia’s sovereign credit rating and, taking various factors into account, revised the outlook from “Stable” to “Positive,” affirming the rating itself at “BB”.
As noted in the statement, the country assessment report highlights that Georgia continues to demonstrate economic and fiscal resilience.
“The positive rating outlook is driven by the rapid accumulation of international reserves, a low current account deficit, and high rates of economic growth. Georgia’s rating is also underpinned by prudent fiscal policy, a moderate level of government debt, and a stable banking system.
The rating agency notes that despite heightened geopolitical risks and high energy prices, the country maintains robust economic growth supported by investment and rapid export growth. The country’s average economic growth between 2023 and 2025 exceeded 8%. Fitch Ratings expects that over the medium term, Georgia’s real economic growth will remain at a level exceeding that of peers with comparable ratings.
In addition, the agency continues to view Georgia’s fiscal policy framework as sound and transparent, reinforced by structural reforms that contribute to macroeconomic stability and an improved business climate. It is also noteworthy that the budget deficit-to-GDP ratio is significantly below the limit established by the fiscal rule, the debt-to-GDP ratio follows a downward trajectory, and external debt is predominantly composed of concessional loans from international financial institutions,” the statement reads.
