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The Devaluation Revealed the Strongest Economy of Georgia

The Devaluation Revealed the Strongest Economy of Georgia

The Bank of Georgia (BOG) is forecasting high economic growth in Georgia, achieving 4% in current year, while in 2017-2018, it is predicted to be 8% growth in Georgia’s economy.

As the Chairman of the Supervisory Board Irakli Gilauri stated at the business meeting held with Bidzina Ivanishvili, there are two main factors that will contribute to the economic growth in 2016. Thus those factors are the growth in tourism and investments fields.

“We believe that National Bank of Georgia (NBG) will accumulate half a billion dollars reserves, which will be caused due to two factors – the growth of tourism and investments.

From our point of view, the exchange rate will be stable as it is by now.

It should be noted that the devaluation process revealed who has the strongest and weak economies in the region. As a result, Georgia has the strongest economy.

I would like to remind you one of the barometer Georgia has. However, nobody even mentions it. This is the stock prices of Bank of Georgia and TBC bank.

Since 2012, our share price has doubled, which means that investors see that they can freely do business in Georgia.

After the devaluation has occurred, Georgia has made a rapid ascent. Our share price has increased by 30% in this year, which means that expectations are pretty good, “- said the Gilauri.