ECONOMY

Economy  Minister: We do not face negative developments, GEL’s exchange rate will be further strengthen

14.08.19 14:20


The economic development gives us the opportunity to think that the GEL’s exchange rate will be further strengthened, - Natia Turnava, Georgia's Minister of Economy and Sustainable Development, told reporters.

 

As Turnava noted, since the economy is stable, we do not face any major negative developments.

 

“In recent days we are witnessing that the Gel’s exchange rate is being strengthened in value. This confirms our forecast and business forecast as well. The business also made the assessment that we were dealing with excessive depreciation of GEL. This means that economic development gives us the opportunity to think that the GEL will further strengthen. Foreign trade statistics have been published, showing that export is growing at a very high rate, which is one of the preconditions for the strengthening of GEL’s exchange rate. We are optimistic in this regard. Of course, negative expectations affected the GEL’s exchange rate, including after June 20 events, but since our economy is sustainable, we make our economic development stable through economic reforms. We believe that we do not face any major negative developments in this regard, ”Minister Turnava said.

 

The Minister also noted that she does not see the need for interventions from the National Bank of Georgia.

 

 

source: IPN/ INTERPRESSNEWS/

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