Prime Minister of Georgia: National Movement is responsible for protest against rising fuel prices

National Movement reponsible for rally against rising fuel prices

According to Georgian Prime Minister Irakli Garibashvili, the opposition party of Georgia, the United National Movement (UNM), is responsible for the March 27 protest against rising fuel prices.

Garibashvili stressed that the coronavirus pandemic, and the Russian-Ukrainian war affected the global and Georgian economies.

On March 27, a protest was held in Tbilisi demanding a reduction in fuel prices. The protesters demanded:
•Complete abolition of excises;
•Transfer of VAT to a floating regime;
•Breakdown of artificial monopolies.

According to the protesters, this will reduce the cost of fuel by 80-90 tetri.”

The protest first began peacefully, and then, in several places, the protesters blocked streets, which was followed by a clash with the police. As a result, the police arrested 20 people.

“I understand that our citizens are very concerned about prices. We are all interested in reducing price increases and reducing pressure on our citizens”, Garibashvili said.

The Prime Minister also said that inflation rates in many countries exceeded forecasts. In the US, for example, a 40-year high is recorded, while in Germany, inflation is at a 29-year high. According to him, the same applies to the Eurozone as a whole.

“Since the Second World War, there have not been wars of this magnitude in Europe. Naturally, this affects everything: prices, economy, inflation”, Garibashvili said.

The Prime Minister also compared the current inflation rate to the period of the UNM rule in 2006:

“I do not want to make another comparison with the previous government, but since opponents speak so irresponsibly and try to mislead citizens, I would like to remind them that during the period of their rule, in May 2011, inflation was 14.3%, 13.9% in March, 13.5% in April and even earlier, in 2006, inflation was 14.5%.»

• Fuel prices hit record high in Georgia
• Op-ed: Who is speculating on the fear of war in Georgia and why?
• Сost of living in Georgia reaches $72 per person

Fuel prices in Georgia hit new anti-records every day, the cost of different types of fuel is already approaching four lari.

From February 24, from the beginning of the war in Ukraine to today, the cost of premium fuel in Georgia has increased by 64 tetri, and the regular fuel by 60 tetri. The price of diesel – Eurodiesel- increased the most by 85 tetri.

Vano Mtvralashvili, head of the Union of Oil Importers, told Business Media Georgia that the sharp rise in prices was caused by two factors: the rise in world fuel prices and the devaluation of the national currency.

Oil importers say they find it difficult to make any predictions today.