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.