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Inflation Is Already Under Control - Minister

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Natia Taktakishvili
30.12.22 10:00
698
Levan Davitashvili, Minister of Economy and Sustainable Development of Georgia considers inflation as the main challenge for the Georgian government. As the Minister and the First Vice Prime Minister says the annual inflation will not be double digits in December.

"As you know, inflation is not only in Georgia. This is a global challenge and when we talk about our country's inflation, we need to understand the context. Inflation in Eastern European countries is much higher than in Georgia, it is about 20%. Inflation in the Eurozone is 10%, etc. Against this background, we think that the management of inflation in Georgia was adequate," said the minister.

Levan Davitashvili says that the policy of the National Bank was insightful, prudent and absolutely adequate.

According to the assessment of the Vice Prime Minister, "inflation is already under control".

"Recently, we see that inflation has a decreasing trend by month. In November, the rate was 10.4%. The inflation rate observed in December will be announced early this year, but according to preliminary analysis, the inflation will not be in double digits at the end of the year. We expect this because the prices of many categories of products have been reduced this month," said Levan Davitashvili, adding that inflation will approach the target of 3% in 2023.