“We are not alone in terms of inflation running high, this is a global challenge.”

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is TRUE

"In the near past, Georgia has always been ahead of Armenia in terms of the credit rating”

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is TRUE.

“The country took a huge debt but, on the other hand, this is not a number alone. Debt sustainability is more important as compared to the debt’s absolute number. According to the International Monetary Fund’s forecast, the debt level will decrease simult

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is MOSTLY TRUE.

“We had a current account deficit at a historic low in 2019 and we expect the worst in 2020. This very factor created pressure on exchange rate and it was transmitted to inflation”.

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is TRUE.

Koba Gvenetadze: In 2004-2016 when the GEL exchange rate was stable, the annual inflation rate was 5.6% on average whilst in 2015-2019 when GEL was in depreciation, the inflation rate is less at 3.9%

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is TRUE.

“There is no directly proportional relation between the exchange rate and prices. In 2014-2015, GEL depreciated by nearly 50% whilst inflation did not exceed 3%”

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is MOSTLY TRUE

Koba Gvenetadze: “If in 2014 the share of remittances from Russia constituted 50% of the total remittances, this figure is halved today and amounts to 25%”

FactCheck concludes that Koba Gvenetadze’s statement is TRUE

According to information published by the international edition of Global Finance, Georgia is among the top ten attractive [in terms of being promising] countries.

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is MOSTLY TRUE.

Exogenous factors affected inflation in 2017 … This year we are dealing with an issue similar to that of 2017 when inflation is kept higher as compared to the targeted level owing to increased prices on tobacco and oil

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is MOSTLY TRUE.

In the third quarter of 2018, for the first time in the history of Georgia, current account balance is positive and reached 0.3% of the country’s GDP

Verdict: FactCheck concludes that Koba Gvenetadze’s statement is TRUE.

International reserves increased by USD 282 million in 2017 and now constitute USD 3 billion whilst the reserve adequacy level is getting closer to 90%

Interest rates are decreasing for loans issued to legal entities and individuals and the interest rate spread is also shrinking