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Finance Minister: Lari will be stable in the medium term

BMG Staff
15.08.22 21:00
In the medium term Georgian national currency lari (GEL) will maintain its stability against the U.S. dollar and the current economic situation in the country will ensure this, Lasha Khutsishvili, Minister of Finance of Georgia tells.

“Lari has appreciated lately. When hostilities began in Ukraine, the exchange rate of the lari against the U.S. dollar was within 3.40. Then it was stable around 3.05, and today, as a result of the last transaction, it is in the range of 2.80. All factors that determine the inflow of money into the country, whether it is the growth of exports, the pace of recovery of tourism or the growth of remittances, ensure the stability of the lari in the medium term,” the Minister says.

Exchange rate of lari may fluctuate daily, however, in the medium term, lari will be stable, and this will be ensured by economic activity in the country that we have today. After the commencement of the war, we have a 60-tetri appreciation, which one can’t say is not important,” says Minister Khutsishvili.