Georgian PM highlights currency stability, economic resilience at 30th anniversary of Georgian Lari

Georgian Prime Minister Irakli Kobakhidze on Friday said that despite geopolitical challenges, external shocks, and turbulence, the macroeconomic stability and peace established in the country had ensured the strength of the national currency, noting “our foreign exchange market is resilient to fluctuations, which further strengthens public confidence in the Lari”.

In his remarks at an international conference dedicated to the 30th anniversary of the introduction of the Georgian lari, Kobakhidze pointed out that both the Georgian Government and the National Bank were focused on promoting competition and increasing access to finance, adding that the number of business loans has increased, contributing to investment growth, the expansion of local businesses, and the creation of new jobs.

“The Georgian banking system is one of the largest employers in the country and continues to develop year by year. The system’s assets now reach almost 100 billion GEL, exceeding the levels seen in many Eastern European countries”, the PM said.

Kobakhidze emphasised that the National Bank and the financial system strictly adhered to international sanctions and domestic legislation.

“There has not been a single case of sanctions violations by Georgia’s financial sector. The National Bank’s regulations and supervisory framework are fully aligned with leading international standards. Naturally, the financial sector’s role in these achievements is invaluable”, the Prime Minister noted.

He thanked the National Bank, its Council, and particularly National Bank President Natia Turnava.

“I would like to express my gratitude to the National Bank, the Council, and especially to the Governor of the National Bank, Natia Turnava. Thanks to their consistent policy, today the Georgian lari is stable and our national currency is strong, which supports the development of our economic system. I congratulate you on this important occasion marking the 30th anniversary of the lari and wish you all continued success”, Kobakhidze concluded.