NEWS

The National Bank of Georgia established the official exchange rate of the national currency at 2.7876 lari for each dollar, the historical maximum.

According to the Minister of Finance of Georgia, Ivan Machavariani, this is a short-term phenomenon. He added that fluctuations are characteristic of all countries, especially developing countries.

According to him, there are no answers to short-term fluctuations and the important thing is long-term economic policy. The essence, said the minister, is that the country continues with the de-dollarization to carry out a correct macroeconomic and fiscal policy.

Shota Gulbani, president of the Association of Financial Youngsters and Entrepreneurs, believes that the difficult economic situation in Turkey could also be a central reason for the lari to depreciate against the dollar.
"Turkey is number one among importers in our country, Turkey's share of total imports is 16.4%, and as a result, when products become more expensive there and our importing companies have to spend more dollars to buy Turkish products, it is clear that this has a certain impact.It is very important that there is no panic, because in the context of panic, people decide to buy certain amounts of dollars.When the need for dollars grows, this affects the national currency "said Gulbani, quoted by EADaily.

The expert also stressed the importance of continuing the campaign for de-dollarization, which aims to reduce the issuance of bank loans in dollars. According to him, this is the only reason why the depreciation of lari has a detrimental effect for people with bank loans.