18 November 2017, 16:19
Tbilisi residents note rise in prices after lari fall
Prices for food products, including imported ones, have already grown, although the cost of most goods remains at the same level, reported residents of Tbilisi. The increase in prices provoked by the devaluation of lari has already begun, and price for the goods in mass demand and imported products will rise, noted economists.
The "Caucasian Knot" has reported after the local elections held on October 21, the Georgian national currency started to fall. Today, the exchange rate is 2.72 laris per US dollar.
Economists associate the devaluation of lari with the completion of the tourist season, the post-election recession in economic activity, and the people's negative expectations.
Residents of Tbilisi noted that at the markets, the prices for meat, poultry, and imported fruits had risen over the past two days.
"If the rise in price continues, we will have to save money and not buy some food to buy meat," said Anna, a resident of the Georgian capital.
The National Bank is not able to effectively influence the lari exchange rate, believes Mikhail Tokmazishvili, PhD in Economic Sciences, a former member of the National Bank Council.
Some experts believe that the prolonged devaluation of lari is caused by the government's wrong economic policies in recent years.
If the lari continues to fall, the prices for goods in demand, especially imported ones, will increase noticeably, reported Paata Seshelidze, the president of the "New Economic School".
Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.
Author: Inna Kukudjanova Source: CK correspondent
