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01.Feb .2023 13:26

Salary Growth Is Higher Than Productivity - NBG Governor

Salary Growth Is Higher Than Productivity - NBG Governor
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Author:Natia Taktakishvili

Koba Gvenetadze, Governor of the National Bank of Georgia says salary growth is higher than the productivity of employees.

"What we notice today is that nominal wage growth is higher than productivity growth. It is important not to turn this trend into the so-called wage-price spiral, when employees demand higher wages, employers meet this demand, and in the background, prices rise. Obviously, the observation of these risks and indicators should be continued", said Koba Gvenetadze.

According to Geostat, currently, the average nominal salary in the country stands at GEL 1,590, which is an increase of GEL 291 compared to 2021.

NBG Koba Gvenetadze salary Governor Growth

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