“Within the framework of the Government Coordination Commission, we seek to investigate the chain of price formation thoroughly. It is essential to transparently communicate to the public why prices for essential goods are rising, and then to employ all the tools at our disposal. Ultimately, our main goal is to bring prices down,” stated Levan Zhorzholiani, Head of the Administration of the Government of Georgia.

Zhorzholiani further noted that prices in Georgia are significantly higher than those in Europe, even for identical products.

“The Prime Minister mentioned in an interview that, for a particular product sold across both European and Georgian outlets, the price in Georgia is three times higher than in Europe, a discrepancy that defies logic. Even if you bought that product abroad and transported it back, there should still be no justification for such a large markup. The Ministry of Economy has conducted an initial study, which revealed an average price markup of 86%. This means that in some cases, the markup is as high as 150%, while in others it’s around 70%. On average, the markup stands at 86%.

We believe that, within the framework of the commission, it is essential to investigate the entire chain of price formation. Naturally, we will present this information to the public transparently, explaining the reasons behind the markup on basic necessities. Furthermore, we will utilise all available measures moving forward. Our primary aim remains to lower prices,” concluded Levan Zhorzholiani.