25 November 2019, 11:28
Residents of Georgia note decrease in incomes amid falling lari
The devaluation of the Georgian currency has led to inflation and rising prices in the country. Foodstuffs have become very expensive; people have to save and borrow money, residents of Georgia have stated. To strengthen the lari, the country needs political stabilization, economists and political analysts believe.
Within the past year, the inflation of the national currency (lari) made 6.9%, the "News Georgia" has reported. During this period, foodstuffs became more expensive 13.5% on the average; within six months, the lari has lost its value against the dollar by about 10%, the "Sputnik-Georgia" has noted.
Irakli Mirianashvili, a web designer, said that pensioners had suffered due to the growth of the dollar.
Koba Arabuli, a software engineer, has noted that he is forced to save money – he has no money for medical treatment, because he needs to maintain his family.
Giorgi Gakhariya, the Georgian Prime Minister, said the government is worried about rising prices. He called on the National Bank to "use all tools to stabilize prices," the "News Georgia" reports.
"The National Bank is printing banknotes that are backed-up by nothing," Paata Sheshelidze, the head of the NGO "New Economic School", told the "Caucasian Knot" correspondent, noting that "workers' wages failed to grow."
According to Tornike Sharashenidze, a political analyst, the authorities should not interfere in the financial policy.
This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on November 24, 2019 at 07:59 am MSK. To access the full text of the article, click here.
Author: Beslan Kmuzov Source: CK correspondent
