Devaluation of GEL - President of the Georgian Business Association believes that the National Bank should intervene in the market and continue foreign exchange interventions. Soso Pkhakadze released a statement, referring to the difficult economic situation of the country.
"All macroeconomic parameters, including fiscal discipline, are healthy. In addition, we think it is fair to say that we do not have any external shocks today. Fortunately, the ban on flights from Russia did not affect the tourism flow. As it turned out, tourist flows increased in July compared to the same period last year. The domestic currency is reliant on the "expectation premium", which is conditioned by a number of negative expectations created in Georgia," - Pkhakadze"s statement reads.