Georgian citizens’ savings are “not in danger” and the decline in real returns during the current high inflation is a “temporary, short-term phenomenon” that will not lead to a reduction in citizen contributions, according to the statement published by the Georgian Pension Agency.
Made in response to recent media reports over the issue, the statement noted the high rate of inflation in the country posed a challenge to savings, and resulted in a reduction in real returns, but highlighted it only impacted accrued real interest payment and not contributions themselves.
"One of the main tasks of the Agency's investment activities is to generate positive real interest payments and returns above the minimum inflation rate”, the Agency said in its statement, noting the profitability of its investment portfolio had continued to grow at a time when prices of almost all asset classes globally had “fallen sharply”.
Currency diversification of the Agency’s portfolio, its purchase of global stocks, investments in refinancing rates and in instruments with high, long-term fixed interest rates on the market were also pointed out in the statement.
See all the news
What regime of sanctions applies to Russian oil and what requirements Georgia has to comply?
Financial Services in CAREC
#TheCheckpoints: TIWB & Georgia - Interview with Rusudan Kemularia, Head of TIWB Secretariat
#TheCheckpoints: The Professional - Demnagram_Story of Saba Bakhia
#პროფესიონალი: საბა ბახია
Stoli® Group to Release Limited-Edition Bottle in Support of the Ukrainian People
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Aliyev replaces long-serving central bank head with loyalist
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
ყველაზე სანქცირებული რუსი ოლიგარქები
Business Leaders Council by USAID and Georgian Business
ვინ არის მსოფლიოში #1 სნაიპერი “Wali”?
ბინების ქირის ფასი 50%-მდე გაიზარდა
OECD formally terminates the accession process of Russia
"Today we are all Ukrainians"- Zurab Pololikashvili
საქმიანი დილა - 25.02.2022 - გადაცემა სრულად
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI