Home / Economy / More Lari Appreciation is not a Good Idea, NBG should Purchase More USD and Issue GEL Instead
More Lari Appreciation is not a Good Idea, NBG should Purchase More USD

More Lari Appreciation is not a Good Idea, NBG should Purchase More USD and Issue GEL Instead

According to Galt&Taggart Georgian economy will grow more than 4% in this year.

Archil Gachechiladze stated in  his speech to business contact that tourism will have a positive impact on economy growth in Georgia.

“Economic growth will exceed 4% and it might reach even 5%. Stabilization has occurred in the region, in addition oil prices have also stabilized.

The biggest shock that the region faced stopped in November and the economy turned around.

Russia and Azerbaijan still continue slow growth, however, from our point of view Georgian economy has a good chance to return back to growth, whereas we see such trends exist.

Tourism is growing quite well. It is even possible that only thanks to tourism the economy will grow by 2.5 percent.

“We are waiting for the currency receivables that will strengthen Georgian Lari. More strengthening of the national currency is not a good idea, therefore National Bank of Georgia (NBG) should purchase more and more USD and should issue GEL instead. Thus, this will consequently stimulate the economy”, – announced Gachechiladze.