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Laborites accused Saakashvili of slackening lari rate

2010-06-08 16:09

The Labour party of Georgia accuses the government, and in the first line, President Mikheil Saakashvili, of artificial slackening of lari [national currency] rate - Georgia Times correspondent.

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Paata Jabladze, one of the party leaders, explains that in the way of dropping lari-U.S. dollar exchange rate Saakashvili tries to return to budget the money, illegally spent by the ruling party in the course of elections.

According to the information of the Laborites, the ruling party illegally spent for its campaign over GEL 300 mln [about USD 163 mln] and now tries to compensate the expenditures.

Shatberashvili suggests the rate will be dropping and will soon reach 2.2 lari per dollar mark. It will allow the government add 500 mln lari to the budget.

The weakening of the rate has already lead to growth of prices for food and essentials. It's worthy noticing that in Georgian market prices increase at any changes of the national currency rate [be that rising of falling], and usually irreversibly.

 

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