"The GEL depreciation is largely associated with the negative expectations of market participants regarding the ongoing processes in the neighboring countries. Unlike 2015, today depreciation is not affected by tax balance. To put it simply, the country's incoming and outgoing foreign currency flows are balanced.
The second factor is the aggregate of money – we have maximally restricted it. The growth of money aggregate is close to zero. Consequently, it does not affect the depreciation. That’s why we carry out point interventions. Given all this, we expect the GEL rate to be stabilized in the near future”, said Kadagidze.