Archil Bakuradze, a member of the Supervisory Board of Microbank “Crystal”, believes that financial sector support for the agricultural sector is crucial for strengthening local production chains.
According to him, inflation in Georgia largely depends on the food sector, highlighting the importance of supporting local production and its direct connection to the country’s economic resilience.
“It’s somewhat surprising that stabilizing the cost of the food basket in Georgia hasn’t been achieved yet. This again underscores the significance of our sector, as we work closely with Georgian farmers. Supporting this sector is linked to improving the efficiency of food production and competitive pricing, which affects not only inflation but also tourism and other industries,” Bakuradze said.
He noted that Crystal’s priority remains the agro and food sector, as strengthening local production chains will reduce costs for Georgian consumers and increase export potential.
Bakuradze also mentioned that due to inflation and the refinancing rate, interest rates on funds raised at the beginning of last year were high. However, the situation has now stabilized and largely depends on the National Bank’s monetary policy.
“Our mission and vision are for Crystal to become a long-term, independent, and strong player – a truly Georgian bank serving Georgian businesses. We are working on our own capital and will consider expanding the bank and its services in the future,” said Archil Bakuradze.
