PM Promises ‘One-Digit Inflation’

Georgian Prime Minister Zurab Nogaideli said on September 11 that increasing inflation in the country is a result of the economic growth and the authorities will be able to maintain the inflation rate at a one-digit figure.

“In every country, economic growth triggers inflation. But we will spare no efforts to maintain the current inflation rate at a one-digit figure,” Nogaideli said while speaking after a meeting with visiting World Bank economist Simeon Djankov.

The International Monetary Fund (IMF) said on August 18 that inflation accelerated in Georgia to 14,5% by the end of July, which is well above planned targets and “poses a serious risk to macroeconomic stability.”

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