BAKU, Azerbaijan, June 12
By Tamilla Mammadova – Trend:
Georgian Citizens of over 70 years old will receive an increased pension starting from July 1, 2020, with monthly pensions increasing by 30 lari ($9.87) to 250 lari ($82.24), Trend reports, referring to the Georgian government's statement.
In addition, retirees living in highland villages of Georgia will receive higher pensions (300 lari).
Meanwhile, pensions for people under 70, will increase by a minimum 20 lari ($6.58) in a year, while for people above 70 years it will increase by a minimum of 25 lari ($8.22).
"Increasing the pension by 30 lari ($9.87) is not enough and we must improve the condition of our retirees every year," said Prime Minister Georgi Gakharia.
He said it is very important that Georgia begins indexing pensions to inflation and economic growth, meaning that an increase in pensions for people less than 70 years old will be adjusted based on the inflation rate, while an increase of pensions for people above 70 will be adjusted based on 80 percent of economic growth as well as the inflation rate.
Georgia already increased pensions of all the retirees by 20 lari ($6.58) on January 1, 2020.
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