Fitch has upgraded Georgia's rating to 'BB' from 'BB-'. The outlook is stable. The upgrade was due to the trend that the Georgian economy has proved resilient to negative developments in 2018. - Economic growth remained robust, the currency was relatively stable and the National Bank of Georgia (NBG) built reserves despite a severe economic shock in Turkey and heightened sanctions risk in Russia,” Fitch said in a release on February 22. Georgia's current account deficit (CAD) is structurally still high, but Fitch estimates that it narrowed to 7.5 percent of GDP in 2018, despite the testing external environment. - Rising tourism revenues and remittances, notably from the EU, and exports resul
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