
The annual inflation in Turkey reached 78.62% in June - the highest rate since 1998. On the other hand, after the active fall from the moment of the introduction of the Western sanctions, the Russian ruble showed a significant growth. Since January, the ruble has strengthened by 45% against the dollar.
The president of the Georgian Distribution Business association, Iva Chkonia, spoke about the impact of sharp changes in the currency of neighboring countries and important trading partners and inflation on Georgia.
"The current situation in the neighboring countries certainly affects the products imported to Georgia. The high inflation in Turkey and such a sharp strengthening of the ruble against the dollar have a significant impact on prices in Georgia, especially in terms of primary consumption products.
The price of commodity food has increased up to 23% on average, although the prices of various products imported from these two countries have been grown differently, but the increase is noticeable. We depend on the neighboring country and have to import oil, buckwheat and primary consumption products. The ruble has strengthened and this has a negative impact on prices, as importers often have to trade in ruble. The inflation rate in Turkey is up to 80%. Georgia is actively dependent on these two markets", - Iva Chkhonia said.
It should be noted that during the 5 months of the current year, the import from Turkey to Georgia increased to 830,025,300 US dollars, while the import from Russia amounted to 553,931,800 US dollars.
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