NBG President: Foreign investors’  interest in Georgia declined due to the government’s wrong economic policy

NBG President: Foreign investors’ interest in Georgia declined due to the government’s wrong economic policy

access_time2019-06-10 17:10:49

“The central bank’s currency policy is designed for the lar’s long-term stability that  is very important for the country to be attractive for investors. We carry out currency interventions to the extent that they do not harm the long-term stability of the national currency rate, ” President of the National Bank Koba Gvenetadze, said  when delivering  his speech in parliament.

NBG President  also touched on the topic of declining  foreign investment. In Gvenetadze’s words, in 2018 a 35% decline in FDI was mainly due to the completion of the construction of the main gas pipeline. Thus it can be said  that foreign capital interest in Georgia decreased due to the government’s wrong economic policy.

According to Gvenetadze, in 2018-2019 the current account deficit was 7% of GDP and hit a five-year low.

"Along with  the growth of exports, tourism revenues and remittances from abroad, a decline in imports was observed  that led  to a drop in foreign trade," Koba Gvenetadze noted.


 

 



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