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Sunday, 23 October 2016


Georgia to cope with “inflation press” – Ministry of Finance

2011-02-02 13:48

13007.jpegHead of Georgian Ministry of Finance Kakha Baindurashvili stated that the country's government is planning to take the growing inflation under control.


"Inflation press that Georgia is concerned about today will be got over sooner or later. The government has got a short-term and a long-term program for checking the development of this problem", - Baindurashvili is cited by Business-Georgia.

According to Minister of Finance of Georgia, the republic's authorities are intended to tighten the monetary policy and provide support to local manufacturers. "Specifically, it is necessary to develop local agricultural production, for the significant share of products is imported and their price is very high at the international market", - he underlined.

Let us remind you that earlier, President of Georgia Mikheil Saakashvili stated that foodstuff prices are growing because many countries increase their development pace and their demand is growing.

"For instance, China has been hungering over the entire history, - the president said. - And now the Chinese started eating. They are over one and a half billion and they need food. Besides, the Chinese started buying automobiles, while the whole country used to ride bikes before".

Besides, Minister of Economy and Sustained Development of Georgia Vera Kobalia believes that inflation in the country will go down by the third quarter 2011.

"Inflation is one of the top problems today. Naturally, we are working on it; a lot has been done in this direction by Ministry of Agriculture", - Kobalia declared, having stressed that, according to the head of the ministry, "the country has got a sufficient supply of products, so there is no reason for panicking".

"We expect the inflation to go down in the second half of 2011, by the third quarter approximately, and we will get back to the figures we had at the beginning of last year", - Minister of Economy underlined. She added that she travels a lot and may definitely say that inflation is a matter of concern for many countries in Europe, America and Asia.

Let us remind you that the inflation level in Georgia amounted to 11,2% in 2010.

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