NEWS

Finance Minister: We are not dealing with an economic crisis

Nodar Khaduri said despite the economic challenges currently facing the country, Georgia was experiencing some economic growth.

Agenda.ge, 25 Feb 2015 - 19:13, Tbilisi,Georgia

"We are dealing with a currency crisis not an economic crisis” says Georgia Minister of Finance Nodar Khaduri.

Today the Georgian official said despite the economic challenges currently facing the country in terms of the depreciation of the national currency against the US dollar, Khaduri said Georgia was experiencing some economic growth.

"Economic growth is continuing despite a positively lower pace. So we are not dealing with an economic crisis,” he said.

”As for the currency crisis, I hope that future developments will show that it will be balanced soon,” he said.

The country’s Finance Minister made this announcement today after the Georgian national currency continued to fall.

The Lari began falling in value against the green back in November 2014. Since then the value of the local currency has deprecated by 30 percent.

In November $1 USD was 1.75 Lari and today, the official NBG exchange rate saw $1 US dollar at 2.2619 GEL.

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