Governor of the National Bank of Georgia, Koba Gvenetadze declares that the NBG will start exiting the tight monetary policy after inflationary expectations in the country decrease.
The fact is that currently, the refinancing rate in Georgia is 11%. The NBG should take further decisions on monetary policy on December 21.
According to NBG Governor Koba Gvenetadze, the reduction of the budget deficit, which is reflected in the fiscal consolidation, should also have a positive effect on the reduction of inflation.
"Only the mandate of the NBG is to maintain low and stable inflation in the medium term. Inflation has been maintained at the target rate for quite some time now, and it requires even more attention. Therefore, it is important that we have a strict monetary policy. Fiscal consolidation should also be implemented by the government. This year there will be quite strong fiscal consolidation and it will continue next year as well. As for monetary policy, it will remain tight until we see inflation expectations coming down. At the same time, we do not rule out that the monetary policy will be tightened even more if the need arises," said the NBG Governor.
According to the NBG, in the second half of 2023, inflation should first decrease to 5.2%, and by the end of the year, it should decrease to 3.4%.
See all the news
Gold is shining in the new geopolitical world
JSC “Rustavi Azot” was sold
We Are Creating An Innovative Co-Working Space In Tbilisi - Sergi Gvarjaladze
The Rich Often Enjoy Tax Break - Deputy Minister
Israel Got Acquainted With The Business Tourism Potential Of Georgia
Kettari Foundation became a partner of DATAFEST this year
Tata Power’s CEO Pays Visit to BMG
NEQSOL Holding has won defamation case against Communications Commission
Trip.com says China hotel bookings are surpassing pre-pandemic levels
Europe's largest crypto exchange WhiteBIT has partnered with Netflix
Interview with Albert Park, ADB’s Chief Economist - By Elene Kvanchilashvili, Forbes Georgia Executive Editor in Chief
Interview with #EBRD President Odile Renaud-Basso by Giorgi Isakadze, Editor in Chief of Forbes Georgia
Investigation Service detained two persons of the fact of evading a particularly large amount of tax
This year, the VIII international literature festival Odesa will be held in Batumi
Georgian Commercial Banks Boost Business loan portfolio for large enterprises
High blueberry exports from Georgia In July
#ForbesTalks - ინტერვიუ გიორგი ჯახუტაშვილთან / 10.08.2022
#ბარი: საუბრები წარმატებაზე ბარში - გიორგი ქადაგიძე, რევაზ ვაშაკიძე და გიორგი ისაკაძე - VII გადაცემა / 06.08.2022
#BMGDRIVE:„ადამიანები ვისაც ემუშავები მალე იცვლებიან, თანამდებობებს ტოვებენ - ეს პრობლემაა“ - მევლუდ მელაძე
#საქმიანები: მაია კეზევაძის ნამდვილი იმერული ესკიზები