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0% Armenia 10% Russia INFLATION: GEORGIA AND PEERS Source: Statistics Offices 40% End-2020 End-2021 30% 20% 13.9% 12.0% 10.0% 10.0% 7.7% 8.4% 8.4% Kazakhstan Belarus Ukraine Azerbaijan Georgia Turkey 0% Euro Azerbaijan GEORGIA VS REGION: FX, INFLATION, POLICY RATE Armenia 0.9% 0.1% -0.3% -3.1% -7.5% -11.4% -12.9% -16.7% -17.7% Moldova Georgia CURRENCY VS. US$ Source: Bloomberg Note: US$ per regional currencies; +/- appreciation/depreciation period 1 January 2020 - 31 December 2021 Kazakhstan 36.1% 20% End-2020 End-2021 15% 10% 7.3% 5% Azerbaijan Armenia Russia Ukraine Russia Belarus -54.3% Turkey MONETARY POLICY RATE: GEORGIA AND PEERS Source: Central Banks 7.8% 8.5% 9.0% 9.3% 9.8% Ukraine Belarus Kazakhstan Georgia Turkey 14.0% 10.5% 56

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