Central Bank Reserves at USD 1.25 bln

The National Bank of Georgia (NBG) said its foreign currency reserves were USD 1.25 billion for the first time, as of July 3.

The comparative figure for March was USD 1 billion.

The NBG credited the increase to “revenue received from the privatization of energy facilities and the purchase of foreign currency.”

This year the Czech company, Energo-Pro, purchased six hydro power plants and two electricity distribution companies for USD 132 million.

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