EBRD Raises Georgia's Growth Forecast as International Reserves Reach $5.2 Billion
The European Bank for Reconstruction and Development (EBRD) has revised Georgia's economic growth forecast for 2025, increasing it by one percentage point to 7%. The update was published in the EBRD’s latest regional economic review.
In the same report, the EBRD highlights the National Bank of Georgia’s policy on replenishing international reserves. According to the bank, by August 2025, Georgia's reserves had grown to $5.2 billion, now covering more than three months of imports—an essential threshold for macroeconomic stability.
This assessment coincides with updated statistics published by the National Bank of Georgia (NBG) on September 25. The data shows that in August alone, the NBG added $199.6 million to the reserves through foreign exchange interventions conducted via the Bmatch platform. This brought the total level of international reserves to $5.2 billion.
The NBG maintains a proactive approach to reserve accumulation, intervening in the foreign exchange market when conditions permit. The strategy aligns with the Bank’s policy to bolster Georgia’s macroeconomic buffer in times of favorable market dynamics.
From January to August 2025, the NBG’s net foreign currency purchases via Bmatch were as follows:
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January–February: no net purchases
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March: $101.7 million
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April: $266.4 million
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May: $245.4 million
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June: $266.0 million
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July: $416.9 million
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August: $199.6 million
The next update from the National Bank on foreign exchange operations is scheduled for publication on October 27, 2025.
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