NBRM reveals unfavorable projections: Inflation 8.8 percent, deficit of 8 percent of GDP and growth of 2.9 percent

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The latest projections of the National Bank point to an average inflation of 8.8 percent in 2022 and gradual stabilization by the end of the year. The uncertainty regarding the future price movements is extremely high, and according to the projections of the international financial institutions, the pressures will gradually stabilize at the end of the year. In 2023, the inflation rate is expected to slow down to 3%. This was announced by the National Bank, after today’s regular session of the Council at which the latest Quarterly Report and the latest macroeconomic projections were adopted.

“Perceptions of economic growth are less favorable than in October. Slower growth is expected in this and next year than in 2021. Growth of 2.9 percent is expected in 2022, followed by growth of 3.6 percent in 2023. A positive but moderate contribution from domestic demand is still expected, due to the weaker contribution from household consumption, while net exports will have a negative contribution,” the NBRM said.

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