GEL 100 pensions

As readers will be well aware, President Saakashvili promised to increase the minimum pension up to GEL 100 which is approximately USD 59. Independent analysts are very skeptical about the move. Of course any kind of increase will be beneficial for pensioners but when inflation is over 11%, to increase pensions by only 10 Lari is not a big deal. In fact the purchasing power of 100 lari is less today than it was even a couple of months ago. The prices of products are growing and it is unlikely that the pension increase will catch up with the inflation rate.