“The National Bank launched the tools, but unfortunately it is late," said Irakli Kovzanadze, chairman of the Parliament's Finance and Budget Committee. In addition, the MP calls for the NBG to return to the reality and taking measures against inflation.
“The National Bank must return to the reality. Price stability and inflation is one of the issues that bothers the Georgian population. The National Bank should use all tools at its disposal to bring inflation back to its target.
The central bank launched the tools but it is too late. Therefore, our task is to call on the National Bank today to ensure that the instruments will be used on time to keep inflation down, ”said Irakli Kovzanadze
Since September, the NBG has increased its monetary policy rate by 2 percentage points. Currently the refinancing rate is 8.5%.
International Monetary Fund (IMF) mission predicts inflation to rise to 7.2% by the end of 2019.
