Business Political Insights BPI.GE
TBILISI(BPI)- The lari has been gaining its value in the last 2 days as it was expected, Prime Minister Mamuka Bakhtadze said at Friday briefing before the Cabinet meeting.
According to the PM, the national currency rate will return to its natural benchmark, after having experienced the devaluation in the recent period.
“Gel’s exchange rate shows the strengthening trend for the last 2 days, which was expected, since any analysis clearly showed that Gel was unnaturally depreciated, while there were healthy processes in the economy. It was also confirmed by the information about economic growth that was published by the Geostat [the National Statistics Office],” Mamuka Bakhtadze said.
According to him, recent weeks’ negative background and negative expectations contributed to exchange rate appreciation.
“The key parameters of economic development, starting with the current account deficit and ending with the volume of exports, are quite positive and show strong dynamics.
The assessment of all agencies, including commercial banks, are the same that we are dealing with excessive depreciation of GEL. Consequently, we have every expectation that GEL will return to its natural and stable benchmark, ”Mamuka Bakhtadze said.
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