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The General Director of the Bank of Georgia, Archil Gachechiladze, spoke about the results of 2022. When asked what causes the recent increase in the value of the Bank of Georgia shares on the London Stock Exchange, Gachechiladze answered that it is due to the unprecedented high economic growth of the country.
According to Archil Gachechiladze, the high economic growth and, at the same time, the strengthening of the exchange rate of the lari make capital investments carried out by international investors in the banking system of Georgia more profitable.
"In 2022, Georgia had an unprecedented economic growth. Our investors perceive it all calculating their own investment and yield in dollars, while our capital is in GEL. Therefore, if there is an investor and the GEL has strengthened, it is certainly more profitable for him or her.
Since Russia is strictly sanctioned, the South Caucasus Corridor has become more and more important for the Central Asian countries, which means an amazing window of opportunities that exists for Georgia today. It is up to us and the country to seize these opportunities. A number of big projects have been announced. The only thing I am afraid of is that these projects need a long period of time and we are thinking how to facilitate them so that the private sector starts implementing them quickly. We need less bureaucracy and more support in this regard," - the Director General of the Bank of Georgia said.
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