The National Bank of Georgia left its refinancing rate unchanged at 6.5 percent on June 12th 2019, saying inflation rate will start to decrease to the central bank’s target of 3 percent at the beginning of the next year. In May, annual inflation rate jumped to 4.7 percent from 4.1 percent in April, the highest since December of 2017, due to a one-time event caused by the increase in excise taxes. Interest Rate in Georgia averaged 6.55 percent from 2008 until 2019, reaching an all time high of 12 percent in April of 2008 and a record low of 3.75 percent in August of 2013.
Interest Rate in Georgia is expected to be 6.25 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 5.75 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 5.25 percent in 2020, according to our econometric models.