The National Bank of Georgia reduced the refinancing rate

The National Bank of Georgia reported that the Committee on Monetary Policy at its meeting decided to reduce the refinancing rate by 25 basis points to 7% from 7.25% per annum. The decision is due to a slowdown in inflation and the growth of the Georgian economy. According to official preliminary data, real GDP of Georgia for the five months of this year was 6.1%. The indicator exceeded expectations due to higher than expected external demand. This allowed the National Bank to increase the forecast for the country's GDP growth this year from 4.8% to 5.5%.

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