On the anniversary year of the lari, through the joint efforts of the National Bank of Georgia and commercial banks, we have an exemplary banking sector in the region. Additionally, our country is distinguished by rapid economic growth, making us a leader not only in our broader region but across the entire continent, said Georgia’s Prime Minister Irakli Kobakhidze during his speech at an international conference marking the 30th anniversary of the lari’s introduction into circulation.
According to the head of government, as a result of economic stability, public confidence in the lari is growing, with the National Bank’s consistent policy playing a significant role.
“Over the past four years, Georgia’s economic growth has been nearly 10%, which, you will agree, is a very impressive figure. Inflation is also very close to the target of 3%, and we have a high degree of fiscal consolidation. According to forecasts from international financial institutions, Georgia ranks among the top three globally in terms of economic growth projections. We must do everything to continue on this path of development. We have a liberal economic policy, are open to investments and economic activity in our country, and will do everything in the future to maximally support economic development. This, naturally, is a crucial factor for the strength of the national currency.
As a result of economic stability, public confidence in the lari is growing, which plays a significant role in our country’s development. The National Bank’s consistent policy, including its lariization policy, effective monetary and supervisory approaches, plays a major role in this.
The tangible results are evident: while in 2015, 70% of deposits were in foreign currency, today nearly half (48%) of deposits are denominated in lari, which is a result of the National Bank’s consistent policy,” the Prime Minister stated.
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