Georgian National Bank Vice President: inflation to decrease in case of no shocks

  • The Vice President of the Bank also said the next inflation forecasts would be published following the body’s monetary policy meeting on March 29. Photo: Nino Alavidze/Agenda.ge

Agenda.ge, 15 Mar 2023 - 14:45, Tbilisi,Georgia

The downward trend of inflation in the Georgian economy will continue in case of absence of further shocks, Archil Mestvirishvili, the Vice President of the National Bank of Georgia, said on Wednesday.

Mestvirishvili said the domestic economy had passed the peak of inflation in 2021, noting expectations were influenced by exchange rate and inflation dynamics.

“Higher salary growth over productivity - the tendency that potentially puts upward pressure on inflation - is changing, and no longer has the same dynamics as before. We will continue observing how productivity changes continue. Hopefully, this rate will decrease and there will be no risk of inflation in the future”, Mestvirishvili added.

The Vice President of the Bank also said the next inflation forecasts would be published following the body’s monetary policy meeting on March 29.

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