Georgia’s strong economic growth has allowed the country to increase its foreign exchange reserves to a record level, Prime Minister Irakli Kobakhidze announced during a government session.

This year, the National Bank of Georgia added $103 million to the reserves, bringing the total to $5.808 billion.

The Prime Minister praised the National Bank and its leadership for their effective work. He also noted that the increase in reserves and overall economic growth led Fitch to upgrade Georgia’s sovereign rating outlook from negative to stable, a move expected to benefit the country’s future economic development.