Let's avoid impoverishment and devaluation of the GEL at a time when the economy is healthy and this should not happen, Natia Turnava, Acting President of the National Bank of Georgia, said in response to a question about the spending of foreign exchange reserves by the National Bank.

As Natia Turnava pointed out, due to the pre-election hype, the demand for the dollar increased, and at such a time, the National Bank is obliged to extinguish this temporary excitement in the market.

"Pre-elections, including through artificially created agitation, certainly worsened expectations. A feeling of unpredictability has been created by the market participants, so there has been a frantic demand for the dollar, and at such a time, especially when it does not come from economic reasons, we are obliged to extinguish this excitement. We did it. If we had not made this intervention, believe me, there would have been an immediate devaluation of the GEL, which would have impoverished our population, impoverished the business, shaken the confidence in the lari, which was built up with so much effort, and it would have been much more difficult to turn around," Natia Turnava said.

According to Natia Turnava, she is sure that by the end of the year the foreign exchange deficit will decrease and the reserves will be restored.

"As of November 8, since the beginning of the year, we have net sales of 540 million dollars, I do not rule it out and I am sure that since the agitation has passed and the pressure on the market has been removed, by the end of the year we will reduce this deficit and we will be able to restore reserves again." Of course, we will not be able to completely eliminate it by the end of the year, but the situation allows us to start purchases", - said Natia Turnava.