BAKU, Azerbaijan, Feb. 2
By Maryana Akhmedova – Trend:
According to the current forecast of the National Bank of Georgia (NBG), the inflation rate in the country will start to decline gradually from spring 2022, and will reach the target by the end of the year, Trend reports via the NBG.
"The COVID-19 pandemic has led to many uncertainties in the world economy, which have emerged in stages and challenged policymakers. One of them is the most important high inflation environment, which is especially relevant for Georgia - in December, the annual inflation rate increased to 13.9 percent," the NBG said.
"Tighter monetary policy, combined with temporary factors and fiscal consolidation, will help reduce inflation," the NBG added.
Meanwhile, the monetary policy rate in Georgia increased by 0.5 percent to 10.5 percent on December 8, 2021. The Monetary Policy Committee of the NBG kept the refinancing rate unchanged on February 2, 2022, meeting.
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