As of March 31, 2023, the central bank’s foreign exchange reserves amounted to $ 5,003,000,000 that is the record high. Compared to the same period of the previous year, they have increased by 24%. Galt&Taggart economist Lasha Kavtaradze believes it was caused by the certain operations carried out by the government, the banking sector and the National Bank. They say at Galt&Taggart that the international reserves will reach 5.3 billion at the end of the year.

"The National Bank’s reserves hit a record high. In March they stood at 5 billion that is 24% more than last year. Compared to the previous month, reserves volume increased by 6% mainly due to operations carried out both by he government and the banking sector, as well as the central bank’s interventions.

An increase in reserves means that the country is solvent. During a foreign crisis, when a country has a high level of international reserves, the country feels safe because it will remain solvent. Our forecast is that at the end of the year the international reserves will increase even more and we will end the year with around 5.3 billion", Lasha Kavtaradze stresses.