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National currency depreciates further
Publish Time 2016-12-13 20:05:00
The Georgian national currency Lari has further depreciated. The price of 1 USD at commercial exchange booths is 2.68 GEL. GEL has also lost value against Euro. The cost of 1 EUR already exceeds 2.80 GEL.
It will become known tomorrow whether or not interest rate is expected to increase to those citizens, whose loans are attached to the refinancing rate. The National Bank of Georgia (NBG) will make the decision.
Giorgi Gakharia, Minister of Economy and Sustainable Development explains the devaluation with foreign factors. The opposition and economists criticize the government and put full responsibility on economic team.
“Today we have drowned exchange rate rather than floating,” Leader of the parliamentary minority Davit Bakradze said when meeting with ministers representing the government’s economic bloc. According to him, each time when the economic team members appear in the parliament, the result is further depreciation of GEL.
“Current discussions should create hopeful mood but we face an absolutely different situation… We see the economic situation and the country itself is heading to a deep crisis,’ Bakradze thus addressed Finance Minister Dimitri Kumsishvili.
Larization of credits to begin starting today
Transformation of bank credits taken in USD into Georgian national currency Lari will begin starting today.
Experts evaluate government’s plan differently
Georgian experts have different viewpoints about the government’s plan elaborated with purpose of stabilization of national currency Lari.
United National Movement (UNM) Party splits
The so-called Bokeria-Ugulava-Bakradze wing of United National Movement (UNM)
Government approves credits Larization program
The government of Georgia has approved the bank credits Larization program. The program will take effect starting January 17. <
Government approves credits’ Larization Program
The Georgian government has approved the program, which envisages issuance and transformation of credits in Georgian national currency Lari
Government to approve program for credits’ Larization
The Georgian government today will approve the program, which envisages issuance of credits in Georgian national currency Lari. &
MPs will hold a voting on so called Larization amendment package
The MPs will hold a voting on so called Larization amendment package today.
Discussions in parliament over government’s plan turn out harsh
Discussions in the parliament over the government’s plan in stabilization of the national currency Lari proceeded under harsh debates today
2017-02-27 16:11:00 | 1TV
Johannes Hahn: I'm sure a lot of people will use this opportunity and arrive in Europe