31.Mar .2021 11:30

Georgia's business community responds to the sharp devaluation of GEL

Georgia's business community responds to the sharp devaluation of GEL
views 235
Back

“GEL exchange rate will be predictable after positive factors occur in Georgian economy”, Vakhtang Butskhrikidze, General Director of TBC so responded to sharp depreciation of GEL exchange rate.

As of March 30, GEL exchange rate devaluated by 2.72 tetri against USD and the cost of 1 USD became 3.4118 GEL. GEL depreciated by 2.04 tetri against EUR and the price of 1 EUR amounted to 4.0044 GEL.

Representatives of the business sector responded to the sharp devaluation of GEL exchange rate. According to Soso Pkhakadze, president of BAG, sharp devaluation of GEL hurts the whole society, including the business.

“We talk about it openly. We receive phone calls from our members, they are interested what can be the way out”, - Pkakhadze declares.

Businessman and founder of REDIX Lasha Papashvili declares that “no wise man will make saving in the national currency today”.

According to businessman Temur Chkonia, the depreciation of GEL is the result of mismanagement of the government. He notes that during the crisis the government must make a focus on flexible management.