Posted: 3 months ago

NBG Vice President: Inflation Remains High but Our Monetary Policy will be Sufficient

According to Papuna Lezhava, Vice-President of the National Bank of Georgia, inflation will reach single digits by the end of the year, and the NBG will maintain a stricter monetary policy until then.

Papuna Lezhava notes that the updated forecast will be announced at the Monetary Policy Meeting on March 30.

"There will be a decline in the economy, but I am unable to provide details. I don't want to reveal our updated forecast before the meeting of the Monetary Committee. Inflation will be in the single digits by the end of the year. The March inflation rate will be released soon, and it will be lower, but overall inflation will remain high, and the monetary policy rate will be adequate "Says Lezhava.

Currently, the refinancing rate of the National Bank stands at 10.5%.