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Giorgi Kadagidze
Giorgi Kadagidze

GEL needs to become stable in the nearest future

As Giorgi Kadagidze, President of National Bank of Georgia has told reporters, the import rate has already been affected by the depreciation of GEL.

“The GEL has depreciated by 30 percent. But it has not fully influenced the import rate yet. However, It will inevitably happen and it means that import volume will decrease,”- Kadagidze says.

According to him, the demand for foreign currency will also go down due to import reduction.  He also stressed that Georgia’s national currency needs to become stable in the nearest future.

source – ipn.ge