26.Feb .2020 17:26

Why GEL is strengthening? - Soso Pkhakadze’s Answer


There are strong macro-economic, fundamental factors in Georgia and external shocks are removed, so all these jointly creates such circumstance, which is today on the domestic currency market, - Soso Pkhakadze, President of Business Association has declared while evaluating sharp appreciation of GEL.

“Strengthen of GEL is very good. I think that external shocks are removed. GEL rate is the most important problem for the economy and the trend observed on the small foreign exchange market is very positive. We want this trend to continue. This is the cornerstone of improving the financial position of companies and improving the country's economy in order to move forward at a faster pace. We have always said that there have been strong macroeconomic, fundamental factors in Georgia for the last year and a half and the external shock has also been lifted. All these jointly create the situation that exists today on the domestic currency market,”Pkhakadze said.

To remind, GEL sharply strengthened in recent days.