Vato Lezhava, Rector at Free and Agricultural Universities declares that the main factor of pressure on the GEL exchange rate is distrust of the economic future.
"The main factor why lari is depreciating is distrust of our economic future. It unites all factors that can affect the exchange rate. It shows that our economy is weak, sick and there is no trust. There is a general tendency that lari depreciates steadily. The national currency, as a thermometer of the economy, shows that the health status of the economy is unsatisfactory and we are probably already entered the dangerous phase," Vato Lezhava said.
Lezhava also notes, the NBG’s interventions are not able to change the trend.
