Inflation not to decline to projected level, NBG President says

19:28, 25.03.2022

“The current events in the region affect the economy, both the regional and global economy,” National Bank of Georgia (NBG) Head Koba Gvenetadze said on Friday.

According to him, Georgia is part of the global economic system, and the Georgian banking system has joined the sanctions in the financial direction.

“We have two commercial banks trading on the London Stock Exchange, which ensures that our financial system will be sustainable, protected from any unauthorized transactions,” said Koba Gvenetadze.

NBG President noted that inflation would not decline to the projected level as oil prices have increased significantly.

“In March, we predicted annual inflation to drop from 14% to 8%. Unfortunately, today I think it is impossible due to the interruption of oil supply chains. Oil prices have risen sharply,” said Koba Gvenetadze.

By - Tamar Tabatadze

Economics

Inflation

Koba Gvenetadze

NBG