Finance Minister: Political Stability Important for Strengthening GEL

“The GEL will start strengthening, but political stability is important for this process,” the Finance Minister of Georgia Ivane Matchavariani said in Parliament on Thursday.

He noted that it is difficult to name specific deadlines, however, there are all conditions for stabilization of the exchange rate.

“The GEL’s exchange rate is a combination of internal and external factors. There are all conditions to start strengthening, but political stability, economic predictability and business comfort are important for this process,” he emphasized. 

The Minister also noted that the tax revenue plan will exceed GEL 130 million this year. 

In addition, he pointed out that, unlike previous years, both the central and local budgets have significantly improved project execution rates.

By Ana Dumbadze