Leszek Balcerowicz: the Independence of the National Bank of Georgia is Very Essential for the Country’s Sound Economy
18 November, 2005
In the context of his visit in Georgia Leszek Balcerowicz, the President of the National Bank of Poland conducted a seminar at Borjomi government residence on the “Lessons of postcommunist transition “
The seminar, which was organized under the aegis of the National Bank of Georgia was attended by Goga Khachidze, Governor of Samtskhe-Javakheti Region, Officials of NBG regional branches, representatives of the institutions of local governing bodies, business structures and media.
During the seminar Leszek Balcerowicz noted, that “the main peculiarity of the past post communist period lies in the multitude of capabilities. Democracy means the choice of possibilities, choice is a precondition for a competition, and the competition – the main driving force of the development”.
In the course of seminar the President of the National Bank of Poland answered the questions of the auditorium. He gave the positive assessment to the post “Rose Revolution” period and stated, that this is a beginning of the fast economic growth in the country. According to his evaluation there is a considerable progress in the reforms carried out in the fiscal sphere and in the processes of liberalization of tax system, extermination of corruption and reduction of smuggling. Leszek Balcerowicz specially stressed the importance of the independence of the National Bank. “ Monetary policy of the country should always be defined by the National Bank despite the fact politicians like it or not. For the soundness of the economy, the National Bank of Georgia should be independent.
The President of the National Bank of Poland got acquainted with the places of interest of health-resort Borjomi and the prospects of the development of its infrastructure.
The working visit of the President of the National Bank of Poland will end on November 19.