23:38 GMT01 April 2020
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    Georgia's international reserves hit $1.3 billion

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    TBILISI, July 4 (RIA Novosti) - Georgia's international reserves have increased by $93 million in three days to hit a historical maximum of $1.3 billion, the National Bank said Wednesday.

    The increment was caused by currency inflow from the privatization of energy assets and the purchase of currency at the Tbilisi Interbank Currency Exchange by the National Bank.

    The country's international reserves have grown 41% since the start of 2007.

    Georgia's international reserves totaled $882 million late last year, almost twice as much as the $478.6 million recorded for the same period in 2005.

    The Georgian National Bank said the large-scale growth of international reserves resulted from economic growth and an improvement in the investment climate. The increase is a key factor for maintaining the stability of the national currency.

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