The Budget and Finance Committee discussed the Draft Main Directions of Monetary and Exchange Rate Policies for 2025-2027 by the National Bank of Georgia, introduced by the Acting President of the NB, Natia Turnava.
According to her, the primary task of the National Bank is to ensure price stability, however, the NB shall, at the same time, ensure the stability and transparency of the financial system and facilitate sustainable economic growth.
“It is noteworthy that along with a low inflation rate, the economic indices are high. Based on preliminary data, the 10-month economic growth in 2024 constitutes 10%. Hopefully, a sound sequence - high economic growth and price stability (low inflation) will be maintained”, - she stated.
Per her assessment, the exchange market shows signs of stability.
“No economic factors that may cause certain fundamental changes or GEL devaluation exist at the current stage; however, the non-economic factors do exist and affect the situation, although, no interference is necessary so far - the market, unlike the pre-electoral period, is balanced, dynamic and progressing to stability. We hold the leverage for interference and are aspired to help the market if necessary”, - she noted, accentuating the “Larization” policy; she underlined that this is a consistent process starting from 2015-2016 and manifests evident progress.
As she noted, the National Bank presumes that the submitted monetary and exchange rate policy ensures price stability in an average run. Hence, it will correspondingly increase economic sustainability against potential shocks and facilitate stable and long-term economic growth.
The Committee considers it expedient to submit the document on monetary and exchange rate policy doe 2025-2027 by the National Bank to the plenary session for consideration.
