BAKU, Azerbaijan, April 21. Georgia’s inflation rate in 2022 is predicted at 9.9 percent, Trend reports via World Economic Outlook from the International Monetary Fund (IMF).
According to the forecast, inflation in Georgia may slow down to 5.1 percent in 2023 and to 3 percent from 2024 through 2027.
Meanwhile, according to the National Statistics Office (Geostat), the inflation rate in Georgia in March 2022 amounted to 11.8 percent.
To somewhat mitigate inflationary risks the National Bank of Georgia (NBG) increased the refinancing rate to 11 percent on March 30, 2022.
The NBG itself predicts the country’s inflation rate in 2022 at 9 percent. NBG President Koba Gvenetadze said in this regard that it is necessary to keep monetary policy tight, as well as the refinancing rate at a level high, to stabilize further inflation increase.
Meanwhile, according to IMF, the baseline outlook envisages Georgia’s GDP growth in 2022 at 3.2 percent, while the nominal GDP will amount to $20.89 billion.
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