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Minister of Economy: In the Medium Term the Lari will Certainly Strengthen

Georgian Economy Minister Dimitri Kumsishvili says the national currency will gain its value in the medium term.

“The pressure on the national currency has decreased in comparison with last year, and based on the current data, we can predict the strengthening of lari  in the medium term. If necessary, we can adjust the budget, although, at this stage there is no such need,” the Minister says.

According to him, amid the current macroeconomic parameters, lari is too undervalued.

“When we talk about a new balance of imports and exports – this is real data that show us a flow of currency inflow. Current figures show a reduction in imports by about $180 million. Respectively, the pressure on lari is lower than usual. A forecast that the national currency will begin to strengthen in the medium term is based on this factor,” the Minister says.

In his words, the Ministry of Economy conducts almost daily consultations with the Ministry of Finance and the Central Bank.