29 November 2021,   01:41
2018 draft budget - opposition has questions on larization and impairment of GEL

The consideration of the 2018 draft budget is underway in the Parliament, where the GEL devaluation was discussed. The Finance Minister presented the country`s main financial document to the MPs today.

According to the Finance Minister, he does not expect further devaluation of lari. Kumsishvili explains that lariization is the best way to avoid any additional fluctuations in the national currency.

The opposition finds in incomprehensible how the GEL was backed up before the elections and how in such a short term the national currency rate started to decline.

Otar Kakhidze, the chairperson of the parliamentary faction "European Georgia", says that despite the lariization plan, national currency is more impaired.

The First Deputy Prime Minister of Georgia, Minister of Finance, Dimitri Kumsishvili,responded to criticism of the opponents and explained that larization does not mean any relationship with the GEL rate.

"Larization means decreasing dependence of lari on foreign currency. We have been successful in this short period of time. However, in general, lariization is a long-term project, "- Dimitri Kumsishvili said.

Roman Gotsiridze, Chairman of the National Movement faction, addressed the Minister and noted that 635 million GEL has been issued.

"Please, answer today do you carry out a cheap money policy with the National bank or expensive money policy?" asked Roman Gotsiridze.

Dimitri Kumsishvili responded that this amount should be deposited in commercial banks as deposits.