Irakli Kovzanadze, Chairman of the Parliamentary Finance and Budget Committee, responded to the increase of the refinancing rate by 1 percentage point to 9.5% by the National Bank.
Kovzanadze wrote on his Facebook, that he welcomes the NBG’s decision, but it would be better if the central bank increased the rate in time to avoid sharp growth of refinancing rate and keep the inflation low.
"The National Bank has increased the refinancing rate to 9.5%.
I said that late last year that the National Bank would have to tighten monetary policy.
Increase of 1% is big, but it has been necessary. Moreover, it would be better if the central bank increased the rate in time to avoid sharp growth of refinancing rate and keep the inflation low.
I welcome this decision", Irakli Kovzanadze wrote on his Facebook page.
It worth noting, that inflation in Georgia reached a record high of 7.2% in March.
