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Georgian National Bank to tighten monetary policy

Business Materials 30 January 2015 18:35 (UTC +04:00)
Georgia’s National Bank will tighten the monetary policy as of Feb. 2 due to the depreciation of the national currency – GEL.
Georgian National Bank to tighten monetary policy

Tbilisi, Georgia, Jan.30

By Nana Kirtzkhalia - Trend:

Georgia's National Bank will tighten the monetary policy as of Feb. 2 due to the depreciation of the national currency - GEL, head of the country's National Bank Giorgi Kadagidze told reporters Jan.30.

"The depreciation of the exchange rate of GEL [currently, 2.05 GEL/$1] can lead to price hikes and inflation," he said.

Kadagidze added that the current situation has made it necessary to reduce the forecasted figures for the country's economic growth.

Previously, Georgian government forecasted the country's economic growth at 5 percent for 2015.

Edited by CN

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