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Dec 30, 2019

Monthly Update: December 2019

Monthly Update

When Tightening Means Easing

  • External sector has strengthened further in November
  • With stronger FX inflows, the monetary policy played a key role in appreciation of the lari
  • Overall credit growth was stronger in November
  • The inflation to reach the target in 2020, the GEL should strengthen further, per our estimates
  • The fiscal contribution to growth is even stronger than expected in 2019
  • The growth slowdown in Q3 appears to recovered sooner than expected
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