Lari rate corresponds to economic situation

The annual inflation in December 2013 reached 2.4%. It is less than the forecast of inflation predicted by the National Bank of Georgia (NBG). The President of NBG, Giorgi Kadagidze, has recently stated that the rate of GEL corresponds to the processes underway in the Georgian economy. According to him, although GEL has fallen by 4.5% against USD, it creates no threat to the economic and financial stability of the country. While the GEL fluctuates, it poses no economic danger in the long term prospective.

It should also be mentioned that apart from some difficulties in the economic field, Georgia managed to reach some achievements. The first is the signing of the initial document on Georgia becoming an association member of the European Union. This will enable the country to enter its products on the EU market. With regard to internal economic policy, the release of Georgian business from political pressure should be also emphasized. Another positive feature is the revival of huge infrastructural projects such as the bypass train connections around Tbilisi, the Sea port of Anaklia and its proximal airport, the motorway connecting east Georgia with the Black Sea coast, the construction and rehabilitation of Baku-Tbilisi-Kars railways, as well as some new projects in the energy sector.

Among the positive achievements are successful developments in the agricultural sector: gathering and placing grapes and citruses.