Inflation in South Caucasus

The Georgian population, as well as analysts and opposition members, are expressing their concern over the inflation process in Georgia. The officials are trying to defend themselves against this criticism. For instance, Prime Minister Nika Gilauri mentioned that inflation for the last three years in Georgia is around 21.9 percent, whereas in Ukraine, according to him, the inflation is 34 percent, in Moldova – 22, in Azerbaijan – 31, in Armenia – 23, in Turkey – 24 percent. Therefore, his conclusion was that Georgia is in the best position in the region. According to him this is determined by the country's strict fiscal and monetary policy. Some analysts however think that the figures named by Gilauri are not quite correct, naming other figures. The analysts mention that the level of employment is higher in Azerbaijan and Armenia, and that the average pension in Georgia is USD 46, whereas in Armenia it is USD 66 and in Azerbaijan USD 106. The average salary in Georgia is the lowest amongst the South Caucasus countries.