According to Georgia’s Prime Minister, the lari will further strengthen in the summer. The forecast was made by the Prime Minister at the press conference.
Irakli Garibashvili says that in experts’ and analysts’ opinion, a period of crisis has been overcome and the national currency will not depreciate even more. However, the Prime Minister says that it will take several months, and he does not have a specific recipe of how to stabilize the situation today or tomorrow.
Prime Minister reiterated that the lari’s depreciation had not been caused by the government’s failed policies but by external shocks. According to him, the government did everything the devaluation of the national currency to be less painful, but has failed due to a lack of resources.
The Government is doing everything for the lari’s stabilization. The National Bank’s policy was the subject for discussion. IMF mission arrived in the country. We had consultations, the government was involved in the process. I want to tell people that this situation will change as soon as possible,” – Prime Minister notes.
In his words, the lari has fallen by about 30% in recent months. In Garibashvili’s opinion, unfortunately, the Georgian economy is not strong enough to withstand such fluctuations.