Tbilisi (GBC) - In her speech at the meeting of the Finance and Budget Committee, the Acting President of the National Bank, Natia Turnava, emphasized the historical maximum of foreign exchange reserves of Georgia and noted that, against the background of the recent increased foreign currency inflows, the National Bank, is more actively filling international currency reserves compared to previous years.
"This year, the foreign exchange reserves of Georgia are at the historical maximum and within the adequate level. As of October, the volume of international currency reserves equaled USD 5.1 billion. Keeping foreign exchange reserves at an adequate level helps to minimize the country's sovereign risk, which is a positive factor for investments and macroeconomic stability. It is for this purpose, in order to soften the excess fluctuations against the background of the recently increased foreign currency inflows and to maintain the international currency reserves within the adequate level, during 2023, the National Bank, compared to previous years, is more actively replenishing the international currency reserves", Natia Turnava noted.
According to her, as of October 2023, taking into account all interventions, international reserves will amount to USD 1.292 billion.
The Acting President of the National Bank presented to the Finance and Budget Committee of the Parliament today, in accordance with the Organic Law of Georgia "On the National Bank of Georgia", the draft of the main directions of monetary and credit and currency policy for the next three years, tools and the current macroeconomic environment and risks are reviewed.
