ECONOMY
“This is a short-term effect and will be regulated soon”
24.05.19 11:30
The Georgian national currency, the lari, has depreciated in value against the US dollar and the euro in recent days, with 1 USD costing 2.7799 GEL, while 1 EUR costs 3.0954 GEL.
Georgian Prime Minister Mamuka Bakhtadze says that “it seems this is a short-term effect and this will be regulated in the nearest future”.
Bakhtadze explained that the economies of the neighbouring countries of Georgia are influencing the lari exchange rate.
"We have a small economy, and naturally, neighbouring countries influence our exchange rate and macroeconomic parameters with their big economies”, he said.
Bakhtadze mentioned all positive preconditions that would help the lari to regain value.
"Export index is at a record high. Tourism figures are very good. The active process of the reduction of the trade deficit is ongoing. Consequently, all the fundamental factors are very sustainable and positive. However, of course, the recent developments in the Turkish economy, are naturally influencing our country, but since the NBG's reserves are very large and solid, our macroeconomic parameters are very sustainable”, said Bakhtadze.
Bakhtadze said that in order to avoid the influence of neighbouring countries and external factors, the government launched a programme on the larisation of loans, which would also help the citizens of Georgia be less dependent on the exchange rate.
source: agenda.ge
Read: 136
Write comment
(In their comments, readers should avoid expressing religious, racial and national discrimination, not use offensive and derogatory expressions, as well as appeals that are contrary to the law)
News feed
-
Echmiadzin 'captures' the Georgian Orthodox monastery of Kobairi
9:4613.05.24
-
10:0011.05.24
-
18:0010.05.24
-
Georgian Deputy Defence Minister joins Invictus Games anniversary in London
17:1310.05.24
-
16:3210.05.24
-
Legal Affairs Committee discusses drafts on Special Investigation Service, Personal Data Protection
15:5110.05.24
-
14:3010.05.24
-
13:4510.05.24
-
13:0010.05.24
-
Anri Okhanashvili: The rights of prisoners are protected in our country
12:1710.05.24
-
Gocha Javakhishvili steps down as Ambassador to France
11:2510.05.24
-
10:4610.05.24
-
Georgia qualifies for Eurovision grand final
10:4010.05.24
-
10:0710.05.24
-
SOCAR plans to expand its business in Bulgaria
18:0009.05.24
-
Strategy Agmashenebeli leader: We must stand together and support each other; ensure our victory
17:3009.05.24
-
Georgian FM: Georgia's future lies within EU, it has no alternative
17:0009.05.24
-
MP Akubardia: Neither UNM nor GD to be able to continue governing Georgia with single-party rule
16:2009.05.24
-
Shalva Papuashvili: I believe that Georgia will soon join the union formed by the unity of values
15:4409.05.24
-
Georgian PM congratulates WWII veterans on victory anniversary, pays tribute to victims
15:0009.05.24
-
Anna Fotyga: It is the best time to sanction Ivanishvili
14:1709.05.24
-
13:4009.05.24
-
Vakhtang Gomelauri: I don't like violence against anyone, either against oppositionists or citizens
13:0009.05.24
-
12:3009.05.24
-
Pawel Herczynski: Stay on the EU path! And rest assured we are by your side on this journey
12:0009.05.24
-
11:1909.05.24
-
Russian occupation forces illegally detain Georgian citizen, SSSG says
10:4609.05.24
-
79 years pass since victory over fascism in Second World War
10:0009.05.24
-
Georgian Defense Minister meets Romanian colleague
18:0808.05.24
-
Strategy Aghmashenebeli doubts so-called moral police, lists yield results
17:0808.05.24
-
EU Integration Committee Chair meets German State Secretary
16:3708.05.24
-
16:0008.05.24
-
EU ambassadors green light 30 million euro in non-lethal aid for Georgia
15:1508.05.24
-
14:3408.05.24
-
Wine Enthusiast: Saperavi - A Noble, World-Class Grape Variety
13:4008.05.24
-
12:3208.05.24