ECONOMY

Temur Chkonia : The Gel’s exchange rate is in a catastrophic situation

29.07.19 15:20


The Gel’s exchange rate is in a catastrophic situation, - businessman Temur Chkonia said in his interview with “Kviris Palitra” newspaper. He slams the statement of the President of the National Bank related to this problem. Chkonia said Koba Gvenetadze’s remark that there is a “free exchange rate in the country" means that the national currency is “abandoned freely.”

 

“Gel’s exchange rate is in a catastrophic situation. It can be said that our national currency and its exchange rate are the face of the country's current economy. However, the Gel and its stability determine the stability of the economy. The remarks of the National Bank’s president that there is a free exchange rate in the country means that the national currency is abandoned freely. The free, floating exchange rate has other economic loading and does not mean that it should be left to their own devices,” Temur Chkonia said.

 

He also talked about the impact of the depreciation of Gel’s rate on business. According to Temur Chkonia, it is impossible to talk about progress and development when the businessmen are oriented to avoid bankruptcy and to get out of the crisis.

 

 

source: IPN/ interpressnews.ge

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