The Governor of the National Bank of Georgia (NBG), Natia Turnava, participated in the economic forum - “Financial Sector 2025: Opportunities and Challenges.”

During the panel discussion held within the forum, the NBG Governor focused on the country’s macroeconomic fundamentals and noted that these indicators are sound according to both the NBG and international financial institutions.

“Our economy continues to demonstrate remarkable resilience. Economic growth remains high, and we are also seeing a normalization of the growth rate. It is gradually returning to its long-term trend. Growth cannot always stay in double digits unless a strong new factor emerges. According to the NBG’s forecast, growth this year stands at 7.4%. Leading international financial organizations have also revised Georgia’s GDP forecast upward, placing it in the 7–8% range. Compared to the region, the wider neighborhood, the Middle Corridor, the southern part of the EU, and candidate countries, this is among the highest figures,” Turnava stated.

According to her, it is particularly important for the NBG and the financial sector that high economic growth does not create additional pressure on inflation. This indicator, she noted, remains largely within the forecast range.

“As you know, we had low inflation on average 1.1%, which is three times below the target. We expected inflation to be higher this year. Several one-off factors also emerged, which contributed to the increase. At the same time, we expect inflation to return to the 3% target in the medium term and next year as well,” she said.

The NBG Governor also discussed the financial sector and emphasized its resilience to ongoing shocks. According to her, the sector is highly capitalized, with sufficient capital buffers in place. Liquidity levels and asset quality are high, while the share of non-performing loans remains historically low at 2.6% of the total portfolio.

Turnava highlighted that in the context of global digitalization trends, Georgian banks and non-bank financial institutions hold leading positions in the region. She added that while cybersecurity remains a challenge for the regulator, consumers benefit from stronger competition, new products, and greater convenience.

She also underlined the profitability of the banking sector and its role in the context of foreign direct investment (FDI). Turnava drew attention to the diversification of financing channels and noted that regionalization is a response to global fragmentation.

“The financial sector and the United Kingdom rank first in terms of sectoral preferences for foreign direct investment. This is directly linked to the trading activity and appeal of Georgia’s two major banks on the London Stock Exchange. We have created access to global financial markets, which means foreign investors trust our economy, our national currency, and increasingly, GEL-denominated instruments,” Turnava stated.

The panel discussion also featured Shota Berekashvili, Chair of the Parliamentary Committee on Economic Policy; Archil Gachechiladze, CEO of Bank of Georgia; and Soso Pkhakadze, President of the Business Association of Georgia. The event was moderated by Giorgi Abashishvili, founder and head of Business Insider Georgia and the Georgian Economic Forum.

Representatives of the legislative and executive authorities, leaders, owners, and partners of various companies, as well as academic and analytical sector representatives, jointly participated in the discussion as part of the forum.