I do not remember such a bad situation that is clearly reflected in numbers – Chairman of the Distributors Association

I do not remember such a bad situation that is clearly reflected in numbers – Chairman of the Distributors Association

access_time2021-02-23 15:22:04

"I do not remember such a bad situation," Iva Chkonia, Chairman of the Distributors Association, says commenting on the current events in the country. According to the businessman, the national currency’s rate proves  once again that the economy is directly tied to the policy. In his words,  the ongoing processes in the country will have a very negative and severe impact on the economy.

"Today currency fluctuations in the lari  exchange rate are observed, it has lost  2-3 points of its value against foreign currencies. The situation  will further aggravate. In particular, price changes will be inevitable due to fuel price hikes that is one of the main components. Investors  do not pour  in the countries with  unstable political environment. Investment and then tourism should have been the driving force of the country's economy, in fact the both ways were blocked," Iva Chkonia notes.

Asked by Commersant how the ongoing political processes in the country will affect business activities, the chairman of the Distributors Association says that political instability has  direct effects on businesses that  is clearly reflected  in numbers.


"The economic downturn is  far more severe and the inflation rate is certainly much higher than expected," Iva Chkonia stresses.


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