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Georgian president concerned about national currency’s depreciation

Georgian President Giorgi Margvelashvili is concerned about the depreciation of the national currency (GEL) and economic slowdown.

The president made the remarks during a meeting with Giorgi Kadagidze, head of Georgian National Bank.

Giorgi Kadagidze briefed Margvelashvili about the current processes in the region and their possible impact on Georgia’s economy, Georgian presidency said on Jan.24.

During the meeting, the sides discussed the difficulties in the country’s economy and the necessary measures for eliminating them.

They talked about the decrease in the volume of export and money transfers and the negative impact of this process on the exchange rate of GEL.

The exchange rate of Georgian national currency to dollar started dropping again in the first decade of January.