We expect that the refinancing rate will decrease gradually, - General Director of "Bank of Georgia" Archil Gachechiladze made this statement to the media.
Gachechiladze also spoke about economic growth and noted that the year will probably end with a 7% growth. He predicts that in 2024, the rate will be between 4% and 5%.
"We expect that the refinancing rate will gradually decrease. There are signs around the world that various economies are slowing down. Nowadays, the economy of Georgia is developing well and we have good growth. However, to be protected from external shocks, it is important to increase credit activity.
Given that we expect the refinancing rate to soften, everyone who has variable loans or will take loans in Lari in the future will also be affected positively and will have their tax reduced.
As for the economic growth, compared to this year's expectations, it turned out to be clearly greater. We believe that the annual growth will be up to 7%. As for 2024, we have not yet made an exact forecast, although we believe that it will be between 4% and 5%", Gachechiladze said.
