Acting National Bank Governor says body expecting “stability in all segments”

Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday said the institution was expecting stability “in all segments” of the domestic financial system, including in the foreign exchange market, following a “historic” strengthening of the national currency, the lari.

The National Bank of Georgia cited Turnava as saying economic growth in the country was “quite strong” and fluctuated within the base scenario.

Inflation is low, external inflows are at a high level, tourism is recovering at a normal pace, and remittances and foreign trade are within the norm”, Turnava said.

The Acting Governor also highlighted “improved” investment environment, importance of foreign direct investment inflows and advantages of the country receiving the European Union membership candidate status earlier this month.

Turnava said obtaining the candidate status had made a “great contribution” to the strengthening of the investment environment of Georgia, which she said was a “precursor” for inflow of foreign direct investment.