Georgia Submits Inaugural Economic Reform Programme

29.02.24 14:58

Georgia, as a candidate country for the European Union, has submitted an Economic Reform Programme (ERP) for the first time.  The European Central Bank (ECB) held a virtual meeting with the National Bank of Georgia.


The ECB delegation met with Natia Turnava, the Acting Governor of the National Bank of Georgia, and heads of various NBG departments to discuss topics such as the general macroeconomic environment, monetary and exchange rate policy, financial stability and banking supervision reforms aimed at aligning with EU practices.


Regarding monetary policy, the focus was on the NBG’s framework, which centres on inflation targeting under floating exchange rate conditions.


Natia Turnava stated, “We are pleased that Georgia, as a European candidate country, is included in the ERP exercise for the first time this year. During the meeting with the ECB Delegation, we highlighted Georgia’s sustainable macroeconomic policy and provided an overview of our monetary policy framework, current tasks, efforts to promote financial stability, as well as challenges and solutions. The meeting was productive, and we look forward to continuing related bilateral discussions in the future.”

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