Home / Banking / NBG President: This YearBudget Spending was more Equal than Ever
National Bank Expects the Exchange Rate to Stabilize in the Near Future

NBG President: This YearBudget Spending was more Equal than Ever

Unlike 2013-14, the budget spending was more equal in this fiscal year than ever, – President of the National Bank of Georgia (NBG) George Kadagidze said when he was asked whether the budget had a negative impact on the lari  exchange rate.

“This year, the budget spending was  equal as never before. Therefore, the  2015 budget was fiscally neutral,”  Kadagidze notes.

As for the exchange rate, the central bank president points out again that the additional pressure on the national currency exchange rate is not expected on equal conditions.

“As I have mentioned many times, there will be short-term fluctuations, which are  typical for the floating exchange rate, butwe do not expect any additional pressure on equal conditions”,  NBG President says.