Georgia, Tbilisi, Dec. 19 / Trend , N.Kirtzkhalia/ The Georgian Parliament approved main directions of money and loan, as well as currency policy, developed by the National Bank.
In accordance with the Constitution, the National Bank is independent in its activity. It develops and implements money and loan, as well as currency policy.
Under the current stage of economic development of the country, the National Bank determined a figure of average annual target inflation in the amount of 9% for 2009, David Amaglobeli, acting President of the National Bank, said at a parliamentary meeting. Inflation ratio will make up 10.5% in 2008.
Respectively, main direction developed by the bank focused on cut of inflation ratio level, Amaglobeli said.
The National Bank gradually will shift to target inflation in 2009. The National Bank will use mechanism of transfer of monetary policy to achieve the target. This mechanism may influence on dynamics of consumer prices through change of short-term interest rate.
According to Amaglobeli, implementation of the major directions of money and loan policy will enable stable and long-term growth of economy.
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