Georgia to achieve “high-income country status” by 2030, says Deputy Finance Minister

Georgian Deputy Finance Minister Mikheil Dundua on Monday said the country would ascend to the status of a “high-income country” by 2030, with salaries, pensions and incomes on par with those in states in the category.

Dundua’s remarks were made in response to data from the International School of Economics, which indicated the monthly pension in the European Union was ahead of Georgian figures by 13 times.

Speaking to Imedi TV, the Deputy Minister emphasised the Government had been implementing annual pension increases “in accordance with a predetermined formula, ensuring growth in pension income over the years”.

The introduction of a cumulative pension system was also cited by Dundua as a step towards bolstering pension amounts in the country.