Pension for pensioners under 70 years of age will increase by 45 GEL

Decision on pension increase

Georgian Prime Minister Irakli Kobakhidze announced at a briefing held at the Government Administration that the pension for pensioners under 70 years of age will increase by 45 GEL. According to the Prime Minister's explanation, the indexation rule approved a few years ago provided for an increase of only 20 GEL, however, the government found an additional 128 million GEL in resources in the budget to increase the pension by 45 GEL. 1TV+5

According to Irakli Kobakhidze, the pension for pensioners over 70 years of age is increasing to 555 GEL. The Prime Minister noted that the government has made a decision to bring the pension of pensioners under 70 as close as possible to the pension of pensioners who have reached and exceeded 70 years of age. 1TV+3

Fiscal and social aspects

The Prime Minister emphasized that the share of social expenditures in the state budget exceeds 33% and this figure is at the threshold of the recommendations of international financial institutions. According to him, increasing social expenditures above the threshold may slow down economic growth and contribute to inflationary processes. 1TV+3

Experts and analysts responded to this decision on social media. According to David Kartvelishvili, the 45 GEL increase is significant assistance for a pensioner. Nino Pochkhua noted that the Prime Minister promised us that the government will try its best to increase the pension for pensioners under 70 beyond the indexation rule in the coming years as well. Lado Sadgobelashvili and David Chikhelidze assessed the decision as a step of caring for citizens. Imedi+8