Georgian Parliament Speaker: Fitch upgrade proves Gov’t’s policy is correct

Georgian Parliament Speaker Shalva Papuashvili on Saturday responded to Fitch’s recent update on Georgia’s sovereign rating, arguing that the improved outlook reflected the correctness of the Government’s economic policy and its commitment to stability despite external pressure.

Following the decision of international credit rating agency Fitch to affirm Georgia’s BB sovereign rating and upgrade the outlook from “negative” to “stable”, Papuashvili highlighted the Government’s role in maintaining economic resilience.

“This once again shows the correct policy of the Georgian Government - economic policy and, in general, policy implementation aimed at maintaining stability, which then, of course, stimulates the economic environment”, he said.

The Speaker argued that Georgia’s progress had been achieved despite political pressure and criticism from Brussels and other Western capitals.

“On the other hand, it shows that under the conditions of a war in the region, Georgia is so successful even against the backdrop of attacks directed against our country. Anyone can easily imagine how much further ahead we would be if we did not have these constant attacks from Brussels, constant attacks from various capitals - some of which pursue openly hostile policies toward Georgia. If all this did not exist, Georgia would be even further ahead. And this is precisely the point - attacks from Brussels and external attacks are slowing the pace that we could have realistically achieved”, Papuashvili concluded.