Ivane Machavariani, Finance Minister of Georgia, is confident that the GEL will stabilize by the end of the year. The Minister said there are all conditions for this.
“We have to realize that the National Bank is an independent institution. I believe that the steps undertaken recently by the National Bank of Georgia to intervene and
the monetary rate increase implemented few days ago will bring the results. When we say this, everyone expects this process to happen in few days and weeks, but unfortunately, this is not the case it usually takes several months”, Machavariani said.