BAKU, Azerbaijan, June 2
Tamilla Mammadova – Trend:
COVID-19 pandemic has especially hurt the countries that are significantly dependent on tourism, including Georgia, said President of the National Bank of Georgia (NBG) Koba Gvenetadze, Trend reports via Georgian media.
He made the remark said when delivering a speech in parliament.
According to Gvenetadze, in April 2020 inflation reached a peak of 6.9 percent, and there are many reasons that led to it, namely the collapse of the tourist season as well as high dollarization and the lari devaluation.
“In 2020, the average inflation stood at 5.2 percent. In the medium term, the return to the target of 3 percent depends on various factors, in 2021 real inflation will be above 3 percent. The decline and movement towards the target will begin in 2022," he noted.
According to him, forecasts are not very reliable given uncertainty and high risks.
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