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Moody’s Left Georgia’s Sovereign Rating Unchanged

The global rating agency Moody’s has left Georgia’s sovereign rating unchanged.

Finance Minister Nodar Khaduri appreciated this fact as “very positive”.
“Despite the difficult economic situation throughout the region, Moody’s has left Georgia’s sovereign rating unchanged at the level of BB and the country’s prospect of economic development is  again assessed as positive,” – said the Minister.

According to him, particularly noteworthy is the fact that in the context of the processes occurring in the region, the rating agency expects  economic growth to reach  3.5% in 2015.

Moody’s considers  stable economic growth, progress in the development of political, economic and social initiatives, effective fiscal and monetary policies as determining factors.

The Agency’s report says  that the signing of the Association Agreement with the EU, and therefore, rapprochement with the European standards play an important role in the country’s subsequent development.

A low level of public debt and quite favorable conditions for its service are also highlighted.

At the same time, the report refers to the factors that may lead to the rating downgrade in  terms of  geopolitical situation, which may have an impact on the economic situation in the country and Georgia’s foreign policy positions.