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The MP Announces Regulations for Strengthening GEL

The MP Announces Regulations for Strengthening GEL

The Prime Minister announces regulations for strengthening and stabilization of GEL.

The MP did not specify what measures should be taken by the new government jointly with the National Bank of Georgia. He linked another drop of GEL with the huge volume of negative trade balance.

“Current changes are conditioned due to the increased import and consumption is significantly increased in the country. However, export is increased in amount, but prices are dropped in monetary indicators, thus exports have not caught up with imports and this is the reason of what happens. Correction of import is already started and the rate essentially stabilized”, – the MP declared. He noted that new steps in coordination with NBG should be made in several days in terms of regulation, “in order to assist strengthening and stabilization of GEL”.

As of 9 months’ data of export-import, import is declined by 3% without Hepatitis C program, while export – by 8%. Preliminary data of 10 months’ statistics should become known on November 14.