National Bank of Georgia improves macroeconomic forecasting system

Business Materials 28 January 2013 17:30 (UTC +04:00)

Georgia, Tbilisi, Jan. 28 / Trend, N. Kirtskhalia /

The National Bank of Georgia, in conjunction with the consulting firm OGResearch is working on the improvement of Georgia's macroeconomic forecasting and modeling.

The project is supported by the International Monetary Fund and the European Bank for Reconstruction and Development.

As the National Bank told Trend on Monday, one of the project's main goals is the improvement of the communication of monetary policy with the market. To this end, the format for inflation review will be changed since the main goal of monetary policy is the assurance of price stability. The review of renewed inflation will be ready in February and it will focus on future projections and their analysis.

OGResearch representatives are visiting Georgia this week; this includes former Governor of the Central Bank of the Czech Republic, who is currently director of KPMG Zdenek Tuma and other leading international experts.