Georgian authorities will soon present initiatives to combat high inflation, the Minister of Economy and Sustainable Development of the Natia Tournava said.
Sputnik Georgia notes that annual inflation (December 2021 by December 2020) in the country amounted to 13.9% with a target indicator of 3%.
“We have several initiatives, including an initiative to stabilize prices for medicines and the opening of competition in the market,” the Agency of the Words of the Georgian Minister passes.
According to her, the authorities intend to admit medicines from Turkey to the pharmaceutical market and develop a plan to attract investors to the country.
In Georgia for the year prices increased by utilities (43.5%), transport (17.3%), hotels and restaurants (14%) and healthcare (7.9%). Food prices for the year rose by 15.6%. Vegetable oil has risen in price – 24.5%, vegetables – 20.7%, bread and bread products – 20.2%, sugar – 19.8%, milk and eggs – 15.3%.
According to the Georgian National Bank, until the end of the year, inflation will remain high. All other things being equal in terms of the current forecast involves a decrease in inflation from spring 2022, which, together with the adoption of temporary factors, it will be supported by existing tough monetary policy and fiscal consolidation.