Eva Bochorishvili, Head of Research Department at Galt & Taggart declares that resent strengthening of GEL is influenced by several factors, including the positive dynamics of foreign exchange flows, which have been observed since February and became even more positive in April.
Eva Bochorishvili also focused on the signs of tourism recovery.
“We expect growth of remittances by more than $ 60 million compared to the beginning of the year. Also, based on the dynamics of April, we have positive expectations for tourism. We must also note the increase in the refinancing rate, which has its effect on GEL exchange rate. We think economic growth has accelerated significantly in April and this process continues. It is also important what is happening in terms of dollarization of deposits and it is expected that this figure will decrease,"- said Bochorishvili.
