November Unrest Cost Economy USD 500 mln ? PM
The Georgia economy lost at least USD 500 million as a result of the November 7 unrest, Georgian Prime Minister Lado Gurgenidze said on December 13.
?We should all understand that because of recent developments our economy suffered to the tune of half a billion U.S. dollars,? Gurgenidze said.
Gurgenidze was speaking in a live interview on an Imedi TV late night political talk show, On the Air.
The prime minister pointed out that an additional GEL 300 million would be spent on ?the government?s new social initiatives? to help root out poverty.
?Georgia without poverty? is a major slogan of Mikheil Saakashvili?s re-election campaign, with the government increasingly emphasizing its commitment to tackling socio-economic problems, particularly since the November 7 events.
Gurgenidze, who was approved as Prime Minister on November 22, said that the cabinet could have allocated even more, at least another GEL 500 million, for social assistance programs, if there hadn?t been political turmoil and resulting economic loss.
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