Home / Economy / Gov’t not Forecasts any Significant Fluctuations in the Lari Exchange Rate

Gov’t not Forecasts any Significant Fluctuations in the Lari Exchange Rate

The government does not expect any significant fluctuations in  the lari  exchange rate. 

According to  Deputy Prime Minister and Economy Minister George Kvirikashvili,  considering the macroeconomic parameters and trends of the last few months, especially a lately tendency, there is no reason for the sharp fluctuations in the exchange rate. “There will be, of course, changes in the national currency rate. This is a  very normal process expected in the future, but  we do not expect significant fluctuations “, – says George Kvirikashvili.

He says that the recent statistical data gives grounds to say that the economy is gradually stabilizing, including the exchange rate.

“In summer, it is caused by the influx of tourists and a decline in imports, respectively. As for the fall, we are preparing for the implementation of major infrastructure projects with  foreign money that will support the stability of the national currency in terms of the completion of the active tourist season.Before the arrival of winter, the government plans to carry out a number of serious measures to stabilize the economy, and we have every reason to believe that it has already begun. We have no reason to expect additional fluctuations in  the exchange rate of the national currency,”- Kvirikashvili notes.

We expect that in general the lari will fluctuate around the current figure.