Tbilisi, Georgia, Dec. 2
By Nana Kirtzkhalia - Trend:
Standard & Poor's international rating agency affirmed Georgia's long-term credit rating at "BB-" with outlook stable, the agency said on Dec. 1. Georgia's short-term credit rating at "B" with outlook stable was confirmed, according to the Georgian Ministry of Economy.
Georgia's affirmed ratings reflect the agency's opinion that the ongoing change in political power will help stabilise the budget indices and external balance in the medium term.
"We assess the prospects for the country's economic growth as good, despite the slowdown in the growth rates as of 2013, as well as the continuing political tension and uncertainty in the political course," a statement said.
Meanwhile, the negative pressure on the ratings could preserve an uncertain political situation, which will affect the country's economic growth.