National Bank of Georgia (NBG) Governor Natia Turnava said the Monetary Policy Committee decided to keep the refinancing rate unchanged at 8.25% after assessing both domestic economic conditions and external risks.
Turnava said Georgia's economic fundamentals remain strong, with robust growth driven by high-productivity sectors, a stable foreign exchange market, and a strengthening lari. The NBG expects inflation to begin easing in the second half of the year, particularly food prices, while maintaining its 2026 economic growth forecast at 6.5% and projecting annual inflation of 5.2%.
She noted, however, that continued geopolitical uncertainty, including the Russia–Ukraine war, conflict in the Middle East, and volatility in global oil markets, requires the central bank to maintain a relatively tight monetary policy stance. Headline inflation reached 5.8% last month, although core inflation remained close to the NBG's 3% target.
Turnava said the central bank stands ready to use all available policy tools if needed to preserve price stability and ensure inflation gradually returns to its 3% target.
