Acting National Bank Governor: “accelerating financial services integration into EU market priority for NBG”

Natia Turnava, the Acting Governor of the National Bank of Georgia, highlighted the “acceleration of integrating financial services into the European Market as a priority for NBG”, the Bank said on Saturday.

In her speech at a panel discussion held as part of the international Conference on European Economic Integration in Vienna, Turnava also discussed the prospects for expanding cooperation and bilateral relations between the NBG and EU institutions, as well as the European Central Bank.

The Acting Governor emphasised the country had achieved “important financial stability and stable economic growth over the past year”.

“Economic growth in Georgia was 7.8 percent last year. We expect it will reach 8.5 percent this year. As for inflation, we have successfully contained inflation since the beginning of 2023, and now the inflation rate is much lower than the 3-percent target level. As of October 2024, the overall inflation [rate] is 0.3 percent, while core inflation is 1.2 percent”, she noted.

The panel discussion, moderated by Robert Holzmann, the Governor of the Central Bank of Austria, focused on the progress and the challenges related to European economic integration. 

The CEEI is an annual event organised by Austria's Central Bank that brings together governors of European central banks and high-ranking representatives of international financial organisations.