National Bank President Speaks on Economy
The president of the National Bank, Natia Turnava, has spoken about the country‘s economy. She said that there is a good inflow of foreign currency into the country.
This means that the currency, known as the lari, has gotten stronger. The inflation rate in February was lower than expected at 2.4%. This is also a positive sign for the economy.
The National Bank president said that the country’s reserves will be replenished soon. Reserves are funds kept for emergencies and debt repayment. They can come from selling foreign currency on the market or repaying debts.
Turnava explained that the National Bank does not directly announce its actions during certain periods to avoid encouraging speculation. However, she said that the bank has been doing its job without buying or selling foreign currency in January and February.
The country’s economy is expected to get even better as the lari continues to strengthen due to a good inflow of foreign currency.
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