The central bank of Georgia raised the benchmark interest rate by 100bps to 9.5 percent on April 28th 2021. Policymakers noted that the removal of subsidies in utility bills was reflected in the upward trend in inflation, which soared to an over 9-year high of 7.2 percent in March of 2021. Overall, the National Bank of Georgia warned inflationary pressure came mainly from upside risks arising from prices in international commodity markets, which impacts oil and food prices, a weaker currency and an increase in imports. Looking ahead, the bank sees inflation ease to 6.5 percent in the current year, while the forecast for economic growth stood at 4 percent. source: National Bank of Georgia
Interest Rate in Georgia averaged 6.78 percent from 2008 until 2021, 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 June of 2021.
Interest Rate in Georgia is expected to be 9.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Georgia to stand at 10.50 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 10.00 percent in 2022 and 9.50 percent in 2023, according to our econometric models.