Papuna Lezhava, Vice-President of the National Bank of Georgia declares, that inflation will reach a single-digit level by the end of the year, so the NBG will maintain a tighter monetary policy till the end of the year.
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 cannot go into details.
I do not want to announce our new forecast before the Monetary Committee meeting.
As for inflation, it will reach single digit late this year. March inflation will be published soon and it will be reduced, but overall inflation remains high and we will have an adequate monetary policy rate," Lezhava said.
Currently, the refinancing rate of the National Bank stands at 10.5%.
