ECONOMY

NBG President says GEL devaluation is caused by external shocks and reduction of tourist flow

30.07.19 15:20


According to the President of the National Bank, Koba Gvenetadze, the devaluation of the national currency is caused by external shocks and reduction of tourist flow in the country.

 

“Today Georgia is going through an external shock. Expected number of inflows has been reduced in Georgia. It is clear according to figrues that fewer tourists come to Georgia. This of course affects the exchange rate. Of course, this is a very painful process, I absolutely understand everyone who is affected by it”, Gvenetadze said.

 

However, according to the President of the National Bank, if they see that the exchange rate results in inflation, the National Bank will use all the tools at its disposal.

 

 

source:IPN/ interpressnews.ge

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