Georgian PM: Georgia maintains strong economic growth, FX reserves reach record high

Georgian Prime Minister Irakli Kobakhidze said on Tuesday that the country’s economy grew by 8% in July, bringing economic growth for the first seven months of 2026 to 7.9%.

He highlighted strong performance across multiple sectors and attributed part of the improved growth rate to the Government’s anti-corruption efforts.

Kobakhidze said Georgia had maintained a high pace of economic expansion throughout the year, with positive dynamics recorded across the economy.

“Georgia’s economy grew by 8% in July, bringing economic growth for the first seven months of the year to 7.9%. This means that the high pace of economic growth has been maintained, with positive dynamics across all sectors. One of the reasons why the economic growth rate has improved compared with last year is precisely that we managed to eliminate corruption at the highest levels of government, and we continue to fight corruption at all levels”, he said.

The Prime Minister also highlighted that Georgia’s foreign exchange reserves reached a record $8.14 billion in August, the highest level in the country’s history.

“Economic growth gives us the opportunity to replenish our foreign exchange reserves, and last month the reserves reached a record high. For the first time in history, foreign exchange reserves amounted to $8.14 billion. Compared with the previous year, our foreign exchange reserves increased by 56.4%, while compared with the previous month, they increased by $613 million”, Kobakhidze said.

“The reserve adequacy indicators have also improved, as determined by the International Monetary Fund methodology. We exceed the 100% adequacy threshold, with the adequacy ratio standing at 128.2%. This demonstrates that we have very sound figures and policies in this area”, he added.

Kobakhidze also said the National Bank of Georgia had purchased an additional $100 million worth of monetary gold in 2026.

“In less than two years, compared with October 2024, the volume of reserves has doubled. During 2026, due to favourable conditions in the foreign exchange market, the National Bank has been replenishing the reserves, and total net purchases in January-July exceeded $2.5 billion. Of course, the National Bank deserves special thanks for this”, he continued.

The Prime Minister said the continued accumulation of reserves was strengthening Georgia’s financial resilience, while thanking the National Bank for its role in managing and replenishing the country’s reserves.

“Important steps have also been taken toward diversifying our reserves. In this regard, the National Bank made a strategic decision in 2024, when it made its first investment in gold. Since then, the price of gold has increased significantly on international markets, and consequently, the total volume of our reserves has increased as well”, he said.

“Overall, this year the National Bank also purchased monetary gold worth $100 million. Gold accounts for more than 14% of our total reserves”, Kobakhidze concluded.