2.54 is too much for the Georgian economy, Georgians will not stand it – Minister says

“2.54 is too much for the Georgian economy; the Georgian people will not be able to stand it”, - Minister of Regional Development and Infrastructure Nodar Javakhishvili told the "Kviris Palitra" paper when commenting on the GEL exchange rate.

According to him, if the value of the Lari continues to fall, it may lead to unrest.

"According to the law, Kadagidze and the National Bank are not responsible for the GEL's stability. Moreover, as per the constitution, nobody is responsible for the GEL's stability. This is an incomprehensible anomaly, but this is reality, and, unfortunately, no laws have been changed so far. One thing I can say for sure - 2,54 is too much for the Georgian economy. People will not be able to stand it,” he said.

The government’s economic team is actively working, though it has not yielded any result yet, Mr. Javakhishvili says.

“Generally, the government is responsible for everything in the country. As for the GEL rate, the government’s economic team is actively working on it, though no results can be seen yet. I don’t have enough information on why it is happening. Everyone should do their job, I have enough problems in the Ministry,” Javakhishvili said.
(IPN)