The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on August 3rd, 2022. Policymakers noted that inflation remains a significant global challenge as supply-side disruption stemming from the Russia-Ukraine war has significantly raised global prices on food, energy, and other commodities. The annual inflation rate in Georgia slowed to 11.5 percent in July of 2022, from 12.5 percent in the previous month. However, the central bank noted that inflation remained well above its target despite the recent slowdown. On a more positive outlook, economic activity remains robust, driven mainly by the record level of remittances, tourism recovery, and solid credit activity. source: National Bank of Georgia

Interest Rate in Georgia averaged 7.05 percent from 2008 until 2022, reaching an all time high of 12 percent in April of 2008 and a record low of 3.75 percent in August of 2013. This page provides the latest reported value for - Georgia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Georgia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Interest Rate in Georgia is expected to be 13.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Georgia Interest Rate is projected to trend around 10.00 percent in 2023 and 9.50 percent in 2024, according to our econometric models.

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Georgia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-11 08:00 AM 11% 11% 11.5%
2022-06-22 09:30 AM 11% 11% 11%
2022-08-03 08:00 AM 11% 11% 11%
2022-09-14 08:00 AM 11%
2022-10-26 08:00 AM
2022-12-21 08:00 AM


Related Last Previous Unit Reference
Interest Rate 11.00 11.00 percent Aug 2022
Money Supply M0 3647348.00 3531461.01 GEL Thousands Jun 2022
Foreign Exchange Reserves 3687230.81 3449417.73 USD Thousand Jul 2022
Money Supply M3 33678038.00 33036413.25 GEL Thousands Jun 2022
Money Supply M2 16504412.05 16079428.28 GEL Thousands Jun 2022
Money Supply M1 10924332.16 10700274.33 GEL Thousands Jun 2022

Georgia Interest Rate
In Georgia, interest rate decisions are taken by the National Bank of Georgia. The official interest rate is the 7-day refinancing rate.
Actual Previous Highest Lowest Dates Unit Frequency
11.00 11.00 12.00 3.75 2008 - 2022 percent Daily

News Stream
Georgia Holds Interest Rate Steady at 11%
The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on August 3rd, 2022. Policymakers noted that inflation remains a significant global challenge as supply-side disruption stemming from the Russia-Ukraine war has significantly raised global prices on food, energy, and other commodities. The annual inflation rate in Georgia slowed to 11.5 percent in July of 2022, from 12.5 percent in the previous month. However, the central bank noted that inflation remained well above its target despite the recent slowdown. On a more positive outlook, economic activity remains robust, driven mainly by the record level of remittances, tourism recovery, and solid credit activity.
2022-08-03
Georgia Holds Interest Rate Steady at 11%
The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on May 11th, 2022. Policymakers noted that inflation remains a significant global challenge as Russia’s invasion of Ukraine led to imposition of new sanctions and in turn restrictions on supplies of food and fuels. However, the recent strengthening of the lari has helped to slow down inflation in imported goods. Also, total productivity has recovery dynamics, which means that there is no significant pressure on inflation from the labour market at this stage. Looking forward, the committee said inflation is expected to remain above the target during the year before taking a downward trend, while the GDP is projected at 4.5% in 2022.
2022-05-11
Georgia Raises Key Rate by 50 Bps
The National Bank of Georgia raised its benchmark interest rate by 50 bps to 11 percent on March 30th, the highest since August of 2008, arguing that inflation has been above target for a long period of time and even stronger inflationary risks. The committee said inflation was expected to begin its moderation path in March, but the scope of the downward momentum would be limited due to the shock in global oil prices, sanctions against Russia, supply disruptions due to the war in Ukraine, and inflation expectations. Looking ahead, GDP should rise 3-4%, compared to prior forecasts of 5%. Finally, the central bank will continue tightening monetary policy until rising inflation expectations are sufficiently mitigated.
2022-03-30