23 February 2020,   18:22
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Devaluated GEL and increased prices for products

The national currency today has depreciated and reached impairment record of 2018. In the aftermath of the elections, the GEL is depreciated in parallel with the political statements . Commercial banks sell one dollar for 2.75 GEL.

Economic experts directly say that panic in the currency market is linked to the political threat of the ruling party, and people started to buy dollars with savings after the Georgian Dream announced the civil confrontation in case of the victory of the opposition.

Political statements of the government have already been reflected on ordinary citizens` pockets. Prices for fuel, medicines and products have already increased. Despite the fact that fuel price on the world market has decreased, its price increases in Georgia. Experts argue that the state has a resource to reduce in short-term perspective the excise tax, which last year was increased by 25 tetri per liter.

There is panic in the agricultural markets. Traders say that the number of buyers is reduced daily. Together with food it is difficult for people to buy expensive medicines.

Experts believe that the trend of rising prices will continue and will reach the peak for the New Year in December.

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