Total inflows continue to grow in Georgia (Exclusive)
Baku, Azerbaijan, September 5
By Tamilla Mammadova – Trend:
The total inflows continue to grow in Georgia, National Bank of Georgia told Trend.
According to the bank, the trade balance is improving, as export is growing, while import is declining. Positive trends in remittances are also persisting, and further reduction in the current account deficit is expected in 2019.
As the bank noted, the current account in Georgia was improving and in 2018 it decreased to 7.7 percent of the GDP, down from 8.8 percent the year before.
According the bank, against the background of the ban on air travel from Russian Federation, revenues from international travelers declined in July, as would be expected.
"We have been actively working to reduce dollarization rate in order to lessen the risks to financial stability and reduce vulnerabilities. Thus, a set of measures were implemented in this direction", said the bank.
NBG also introduced new comprehensive regulatory framework to promote responsible leading practices is important.