02 December 2021,   11:20
Expectations have impact on GEL exchange rate - debates at Finance and Budget Committee Meeting

The revised version of the 2018 budget is already in the legislative body. It is known that the final version of the draft law does not have significant changes and the country`s main financial document is set up at 12 billion 403 million GEL.

Debates between Deputy Minister of Finance Giorgi Kakauridze and members of the opposition at the meeting of the Finance and Budget Committee were connected to devaluation of the National Currency. The opposition names the wrong budget as one of the main reasons for the impairment of GEL .

"Small businesses, and possibly big business and the population have expectation that at the end of the year the GEL will devaluate and they try to buy foreign currency at the beginning of the fourth quarter. These expectations have a big impact today on the Lari exchange rate, "- said Deputy Minister of Finance Giorgi Kakauridze.

Opposition members asked the deputy finance minister a number of questions.

"I do not know people who are collecting dollars now . So, they are in such a situation because of their fears?" - asked Khatuna Gogorishvili, a member of "European Georgia".Deputy minister of finance, Giorgi Kakauridze replied that it is not fear but expectations.