"Fundamental macro-economic factors are strong in Georgia and this is what determines the economic situation we have today," - the Vice President of the National Bank of Georgia Ekaterine Mikabadze said. 

According to Ekaterine Mikabadze, the inflation in Georgia remains below the target rate and is 0.3% in October. Achieving price stability is the result of the monetary policy pursued by the NBG, both in the direction of timely tightening and gradual normalization.

"I will start with price stability, which is the main mandate of the NBG and is the basis of long-term economic growth. Since the beginning of 2023, the rate of price growth has started to slow down, and inflation has been below the 3% target rate since March. According to October data, inflation is 0.3%, and I would say that this is the result of the monetary policy conducted by the NBG, both in the direction of timely tightening and timely gradual normalization. It is very important that the inflation is largely due to low inflation of local products and also the slow pace of price growth in the services sector. This, in turn, indicates the stabilization of long-term inflationary expectations.

As for other fundamental macroeconomic factors, as of 9 months, the economic growth is 9.8%, this is the economic growth recorded on the basis of the growth of the combined domestic demand, which exceeds all expectations and comes from the strength of the economic activity. It is also important that the total potential of the economy has increased", said Ekaterine Mikabadze.