Water resource issues and problems in the world's developing countries, present special challenges, as development of these countries significantly depends on the utilization of water resources. Georgia nestled between the Black Sea, Russia, and Turkey, and surrounded by the Caucasus Mountains, occupies a unique geographic space, which gives it strategic importance far beyond its size. Though blessed by its rich hydro resources, Georgia due to its uneven distribution, experiences some problems as the demand on water frequently doesn't coincide with water provision. As a result it causes acute deficit situation. Due to the global warming of the climate, it is expected that the fresh water amount will decrease in Georgia. This is why it is necessary to approach the use of water resources in a complex way by means of water reservoirs, which will enable attaining of a large economic effect. In the mountainous conditions filling of reservoirs take place in spring time, when snow and glaciers melt. In Georgia as in mountainous country, abundant rains take place, thus causing catastrophic flooding on rivers. In summer and winter water amount decreases 10 times and irrigation, water provision and energy production is impeded. Thus, the lack of water just like the excess amount of water causes damage. This is why it is needed to forecast water amount in water reservoirs for different periods of the year. But in a complex, mountainous terrain operative data of hydrometeorology is not sufficient for application of modern mathematical methods. We have elaborated multiple-factor statistical model for a forecast, which by means of different mathematical criteria and methods can simultaneously research the increase of the timeliness of forecasts and the level of their precision. We have obtained methodologies for short and long term forecasts of inflowing water properties in Georgia's main water reservoirs to further plan optimally and regulate water resources and their unimpeded and safe exploitation.
