Economy Minister: “no preconditions” for bread price increase
Georgian Economy Minister Levan Davitashvili on Tuesday said there were “no preconditions” for an increase in the commercial gas tariff causing a rise in bread prices across the country. Photo: Ministry of Economy
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Georgian Economy Minister Levan Davitashvili on Tuesday said there were “no preconditions” for an increase in the commercial gas tariff causing a rise in bread prices across the country.
The Minister said the Tbilisi Energy gas supply company had announced an increase in the cost of natural gas for commercial consumption from January by four tetri, adding the commercial sector depended on prices of petroleum products on international markets.
This change does not directly affect the public but may have an indirect effect on inflation”, he said.
Davitashvili also mentioned the latest inflation data by the National Statistics Office of Georgia, which showed prices of certain food products had decreased across the country in November.
He added the impact of increase in commercial gas price on inflation had been assessed as “insignificant”.
We do not expect the price of bread to rise either - on the contrary, this pressure will be removed from the population”, the Minister said.
Davitashvili also noted gas prices had seen fluctuations and added trends of reductions had been “more significant” over the year compared to the anticipated increase.
The National Bank of Georgia on Tuesday released a monthly review which said remittances to the country from the United States and Kazakhstan had increased at a “high rate” in October, while the figures from Russia had decreased by 79 percent.
Georgian Economy Minister Levan Davitashvili on Monday said the country maintained an “advanced position” in the wider region for its economic growth rate, and credited the outcome with the Government’s “prudent” macroeconomic policy.
Prices of certain food products and non-alcoholic beverages, furnishings, household equipment and maintenance, as well as healthcare decreased month-on-month across Georgia in November, the National Statistics Office said on Monday.
The National Bank of Georgia on Monday said gradual decreases in international food prices and maintenance of its strict monetary policy had led to a “low” domestic inflation rate.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday said the country’s foreign exchange reserves were at a “historic high” and within the limits of an “adequate level”, in comments at the session of the Finance and Budget Committee of the Parliament.
Prices of certain food products and non-alcoholic beverages increased month-on-month across Georgia in December, while prices for clothing and footwear and furnishings, household equipment and maintenance decreased, the National Statistics Office said on Wednesday.
Prices of certain food products, including oils and fats, vegetables, bread and cereals, milk, cheese and eggs, decreased year-on-year across Georgia in January, the National Statistics Office said on Friday.