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“The National Bank and the state must be very careful in 2021”- Vakhtang Butskhrikidze

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Natia Taktakishvili
25.12.20 12:15
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Vakhtang Butskhrikidze, CEO of TBC Bank, declares that both the National Bank and the state must be very careful in 2021, as "there is no room for error".

"2021 will be quite difficult. I listened the Prime Minister addressing the Parliament. Both, the National Bank and the state must be very careful in 2021, as "there is no room for error". As you know, the budget will be quite deficit. There will be a deficit of more than 7%. On the one hand, it will be necessary to implement social projects, on the other hand, they must continue the development of infrastructure projects that will support employment and economic. It will be important to have inflation around the target and at the same time to have exchange rate stability.

However, Butskhrikidze still expects difficulties due to the spread of the coronavirus regarding the plans of TBC Bank in the first half of 2021. But, TBC CEO predicts growth of economic activity in the second half of the year. Accordingly, TBC will spend more on working with businesses and individuals who have faced significant difficulties during the crisis.