In the second quarter of 2025, 80% of companies in Georgia do not expect any change in the GEL/USD exchange rate over the next six months, according to the latest BAG Index survey published by the Business Association of Georgia (BAG).
The survey shows a sharp shift in business sentiment compared to the previous quarter. The share of companies expecting no change in the exchange rate has increased by 34 percentage points, indicating growing confidence in the currency’s stability.
Meanwhile, only 11% of respondents anticipate a depreciation of the Georgian lari, and just 8% expect it to strengthen.
The findings suggest that most companies are operating under the assumption of macroeconomic stability, at least in the short term. The significant decline, 30 percentage points, in the share of businesses expecting depreciation points to reduced concerns over external economic pressures.
The BAG Index is a quarterly measure of business sentiment and expectations, based on surveys of companies across various sectors in Georgia.
