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Georgian Experts Argue with IMF Representatives about Salaries

2011-05-05 19:07

Georgian Experts Argue with IMF Representatives about Salaries. 16708.jpegThe International Monetary Fund experts recommend that the Georgian government should not increase salaries in the country. According to the Business Georgia, the growth of salaries, in their opinion, may affect the inflation level. To the mind of the fund analysts, in this region fiscal needs are growing and the government has difficulties coping with the pressure implied by the growth of salaries, pensions and other social expenses.

The Fund believes that some more efficient social security systems should be worked out to protect the poor.

However, some Georgian economists do not agree at all with such IMF recommendations. In particular, the expert Emzar Djgerenaya asserts that the growth of salaries, that is, growth of the monetary stock in turnover, stimulates the inflation, however without the growth of salaries no economy is able to develop. In his words, salaries must grow. It increases market expenses and contributes to the economy development.

In his turn, a statistics expert Soso Archvadze notes that, according to last year's data, the growth of salaries lagged behind the inflation growth index by 60%.

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