National Bank tightens monetary policy
 Tbilisi 13:20 - 30.01.15 «GHN»
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National Bank tightens monetary policy, - stated the President of National Bank Giorgi Kadagidze. As he said the GEL depreciation already reached the point when the prices can increase. As he stated there is planned review of the forecast of existed economical growth, reports GHN.
"In our opinion the depreciation of GEL reached the point when inflationary effects can influence of the prices and they can increase. Especially are damaged those citizens who have responsibilities in Dollar and income in GEL. The depreciation of GEL will make worse their economic condition that will negatively influence on the economy of the country. We made decision and from next week there is planned to tighten monetary policy. Our involvement will be consistent and we will use the entire instrument that we owe. We had intensive discussions with the government and took the decision that the expenditure part should be balances or in better case correlative. On the background of these challenges, based on the situation in economics, on the basis of analyzes of numbers and data we have to begin overview of data of economical growth in the direction of reduction economic policy to adequately respond to the situation in the country," stated Kadagidze.

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