The central bank of Georgia left its key 7-day refinancing rate unchanged at 8% on February 3rd 2021. Policymakers noted that annual inflation receded in the last two months due to the subsidy of utility bills by the government and is of a temporary nature. As such, inflation is expected to remain at an average of 4% in 2021 and then gradually approach the target of 3%. The annual inflation rate increased to 2.8% in January of 2021 from 2.4% in the prior month, but below 3.8% in November. At the same time, aggregate demand remains subdued due to the sharp decline in external demand. Still, economic activity is seen recovering gradually in 2021 with economic growth projected around 4%, driven by domestic demand. source: National Bank of Georgia
Interest Rate in Georgia averaged 6.74 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 March of 2021.
Interest Rate in Georgia is expected to be 8.00 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 8.00 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 8.00 percent in 2022 and 9.00 percent in 2023, according to our econometric models.