Minister of Finance: GEL Rate Falls to 2.80 Point, but There is no Inflation Pressure

GEL exchange rate deprecation is driven by external factors, Minister of Finance Ivane Machavariani told reporters.

“Naturally, external factors rule… I am sure the Turkish factor is one of the preconditions for the current volatility. That’s why for more than 1 year we have been talking about dedollarization to reduce dependence on USD-related factors, including there were active discussions at our parliament over introduction of due regulations and restrictions on mortgage loans. There regulations aim to make the country resistant to external shocks.

The exchange rate has dropped to 2.80 point, there is no inflation pressure behind this volatility. We are sure the growth in prices will remain within the norm determined by National Bank of Georgia”, the Minister noted.

Last 7 Days Hot Topic

Business

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

Economy

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Economy

Minister of Finance: GEL Rate Falls to 2.80 Point, but There is no Inflation Pressure

GEL exchange rate deprecation is driven by external factors, Minister of Finance Ivane Machavariani told reporters.

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
05

Levan Lepsveridze Joins Jury at Cannes International Festival
06

Categories

Pages

Minister of Finance: GEL Rate Falls to 2.80 Point, but There is no Inflation Pressure

GEL exchange rate deprecation is driven by external factors, Minister of Finance Ivane Machavariani told reporters.

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine 01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul 03

Georgia Sees Surge in Electric Vehicle Registrations 04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 05

Levan Lepsveridze Joins Jury at Cannes International Festival 06

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
05

Levan Lepsveridze Joins Jury at Cannes International Festival
06