According to the general director of TBC Bank, the recent devaluation of Georgian Lari is a short-term breakdown. Vakhtang Butskhrikidze says that fundamental indicators are quite optimistic in the economy and the high dollar is the main challenge of the banking sector.
“The banking sector is the most successful of the 2015-2016 challenges, the growth has returned to its indicators to contribute to economic growth. Fundamental indicators are quite optimistic, so I think it’s a short-term breakdown.
Dollarization is one of the system issues that the Georgian banking sector has to decide in the medium term. There is no short-term solution, but the trend is to decrease, “says Butskhrikidze.