Page 34 - GEORptJul18

8.3 Stock market
The GSE recorded a turnover value of GEL15,939.97 in April, declining from GEL78,046.8 in March 2018. The highest turnover value of GEL4,163.2mn was seen in May.
8.4 International ratings
Georgia - Rating agency
as of May 2018
Bond rating: Moody’s
Ba2 (Stable)
Bond rating: Fitch
BB- (Positive)
Bond rating: S&P
BB- (Stable)
S&P affirms Georgia’s BB-/B saying growth set to remain strong
Fitch upgrades Georgia outlook to ‘positive’ says economy ministry
S&P Global Ratings on May 4 affirmed the ‘BB-/B’ ratings of Georgia and said the outlook was stable. Georgia's growth is set to remain strong and its IMF programme should mitigate balance of payment risks and act as a fiscal policy anchor, the rating agency said.
The update refers to the country's long and short-term foreign and local currency sovereign credit ratings.
Preliminary data showed GDP accelerated through the first quarter of this year, rising from 4.4% in January and 5.5% in February, to average at 5.2% y/y for the quarter. The expansion in March was driven by a rise in activity in manufacturing, transport, real estate and trade, and “other community, social and personal service activities”.
The statistics office also released preliminary data on Georgia’s external trade, showing that exports were up 28.4% to $740.3mn, while imports rose 21.6% to $2.0834bn.
Fitch Ratings has upgraded Georgia's outlook from 'stable' to 'positive', while reaffirming the country's sovereign rating at 'BB-', the Georgian economy ministry announced in a statement on March 19. The ratings agency has yet to publish a report on the upgrade.
34 GEORGIA Country Report July 2018 www.intellinews.com