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Iva Chkonia: GEL is not strengthened, it is temporarily stabiliz

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BM.GE
11.12.19 12:40
669

“Who does not know, I want to say that GEL is not strengthened, but temporarily stabilized, - Iva Chkonia, chairman of Georgian Distributors Business Association told TV-program Business Morning and noted that GEL rate would not reduce prices.

“I want to explain that the rate is temporarily stabilized. Given that the refinancing rate has changed three times in the last three months and the National Bank has sold 150 million USD over the past three months, It does not mean that GEL is strengthened. 1 USD costs 2.92 GEL. I wish we could keep this benchmark, but that does not mean strengthening. This will not lead price reduction", Chkonia said.

According to him, the country's economic team must be involved in the process.

“I cannot predict, how the NBG will strengthen GEL rate in the long run, if country's economic team is actively involved. The government must support development and stability of local business, as well as promoted the country to attract more investments, which is declined by 50% in Q2”, - Iva Chkonia said.