Georgian Foreign Ministry  lost GEL 6.5 million in 2019 due to the lari’s  fall

Georgian Foreign Ministry lost GEL 6.5 million in 2019 due to the lari’s fall

access_time2019-10-10 12:00:33

Due to the national currency’s devaluation, the Georgian Ministry of Foreign Affairs has lost GEL 6.5 million, Deputy Minister Mikheil Ninua states.

According to the Deputy Minister, 85% of the Ministry’s expenses are related to financing foreign missions and trips abroad, the budget in the national currency is almost completely converted into dollars – for this reason  the Ministry suffers losses.

“The current losses caused by  the exchange rate fluctuations amounted to GEL 4.5 million, till the end of the year the loss will further increase and will reach GEL 6.5 million. A lot depends on the rate of the national currency in the next three  months of 2019.

 


In Mikheil Ninua’s words, the Foreign Ministry’s financing in 2020 will increase just due to  the lari’s collapse  and  will amount to GEL 159 million.


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