The National Bank of Georgia predicts that inflation will reach 3% inflation rate in the second quarter of 2023. Vice-Governor of the Central Bank Archil Mestvirishvili stated about it during his speech in the Parliament.
"The inflation target is an indicator for the market, when we tighten or soften monetary policy. Our goal is to reach this 3% rate in the medium term, but it is also our long-term indicator.
On other equal terms, our forecast shows that we will reach the inflation target in the second quarter of next year," Mestvirishvili told the Committee on Sectoral Economics and Economic Policy, where he presented the 2021 report of the National Bank.
The annual inflation rate amounted to 13.3% in Georgia in May.
