BAKU, Azerbaijan, April 13. Georgia’s inflation rate in 2022 will be at 9 percent, President of National Bank of Georgia (NBG) Koba Gvenetadze said, Trend reports via Georgian media.
According to the NBG’s president, Georgia’s GDP growth in the current year is expected at 3-4 percent.
“As FAO has increased its index for food prices, the oil products prices went up as well, which are the factors that have the most influence on the country’s inflation rate, and also, the hostilities between Russia and Ukraine have impacted even more,” Gvenetadze explained.
He also added that it is necessary for the NBG to keep monetary policy tight, as well as the refinancing rate on level high, to somewhat stabilize further inflation increase.
Meanwhile, the NBG increased the refinancing rate from 10.5 percent to 11 percent on March 30, 2022. The previous rate increase occurred in December 2021, when the bank also raised the rate to 10.5 percent.
According to the National Statistics Office (Geostat), the inflation rate in Georgia in March 2022 amounted to 11.8 percent.
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