NBG: BUDGETARY AMENDMENTS DO NOT ENVISAGE NEUTRALIZATION OF PRESSURE, CAUSED BY DEPRECIATION OF LARI

“If the Parliament aims relief of credit burden because of depreciation of lari or next initiative – neutralization of pressure of additional depreciation of lari, corresponding changes should be made, which are not envisaged in the presented draft budget”, National Bank of Georgia (NBG) said in its conclusion released today.

NBG considers expedient “considerable cut of the budget’s expenditure and/or use of the existing tax mechanisms, as it was mentioned by IMF during consultations with the government”.