Georgian PM highlights historic high in foreign exchange reserves, reaching $7.1 billion

Georgian Prime Minister Irakli Kobakhidze said on Wednesday that Georgia’s foreign exchange reserves were growing alongside the country’s economic expansion, noting that the National Bank of Georgia was actively working to further strengthen them.

In his remarks, Kobakhidze noted that the country’s foreign exchange reserves reached a historic high of $7.1 billion last month.

The Prime Minister thanked the National Bank of Georgia and its President for their successful work and effective performance.

“Last month, our foreign exchange reserves reached $7.1 billion, marking a historic high. Year-on-year, foreign exchange reserves increased by 52 percent. This is the result of our economic success and the effective work of the National Bank. I would like to thank the National Bank and its President for their efforts and activities. The strengthening of the lari exchange rate in recent months is also a result of their successful work. We must do everything possible to maintain these positive trends in our economy and the financial sector as a whole”, the PM said.