The Society and Banks have reviewed loans linked to a variable interest rate. As of April 1, 2026, a total of 252,029 variable-rate loans have been issued, predominantly tied to the refinancing rate. The Monetary Policy Committee has increased the monetary policy rate to 8.25%, meaning that the monthly repayments for these borrowers will now rise.

Of these loans, the majority, 80%, are mortgage and consumer loans. A further 19% are extended to small and medium-sized enterprises, with just 1% issued to large corporations.

“In total, loans with a variable interest rate amount to GEL 19.9 billion. Of these, GEL 3.9 billion are mortgage loans, while consumer loans total GEL 6.2 billion. The largest share of lending was directed towards small and medium-sized businesses, amounting to GEL 6.3 billion, and large businesses received GEL 3.4 billion.

The average volume of these loans is GEL 56,276 for mortgages, GEL 43,587 for consumer loans, GEL 130,138 for small and medium-sized business loans, and GEL 1,541,963 for large enterprise loans.

Inflation has surged to its highest level in the past two years, yet it remains below the target of 3%. According to the National Bank’s forecast, inflation should have started to approach the target from the second quarter of 2026. However, the ongoing conflict in the Middle East has driven up energy and transportation costs. The National Bank’s decision to raise the monetary policy rate to 8.25% is a stringent but necessary measure to curb inflation. The inflation rate has surged to 5.9%, directly threatening the purchasing power of the population and prompting the National Bank to take decisive action. If inflation continues to rise, further increases in the refinancing rate cannot be ruled out,” the organisation stated.