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National Bank of Georgia raises refinancing rate

Georgia Materials 30 March 2022 13:34 (UTC +04:00)
National Bank of Georgia raises refinancing rate
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, March 30. The National Bank of Georgia raised the refinancing rate by 0.5 percent on March 30, reaching 11 percent, Trend reports citing the bank.

The bank's statement noted that the situation in Ukraine and rising energy prices would be a new shock for the Georgian economy.

"As oil prices rose, fuel price boom was likely to happen, which would probably result in increasing prices for all products in Georgia. Amidst growing risks, a decrease in external flows is recorded," the statement said.

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