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Ministry: Turkish medicines will not rise in price in Georgia

BMG Staff
28.07.23 19:00
According to the Ministry of Health of Georgia, the decision to revise the fixed euro/lira exchange rate for medicines in the Republic of Turkey will not affect the cost of Turkish medicines imported to Georgia.

After the opening of the Turkish pharmaceutical market for Georgia, prices for drugs fell by 70-80%, the Ministry of Internally Displaced Persons from the Occupied Territories, Labor, Health and Social Affairs of Georgia says.

“To inform the public, we explain that the exchange rate of the Georgian lari against the Turkish lira has appreciated by 46% since 2023. Accordingly, against the backdrop of the strengthening of the lari, the medicines that have risen in price in Turkey will not affect the cost of medicines in Georgia, and Georgian companies will be able to buy and import medicines at a lower price on the Turkish pharmaceutical market.

To recall, the prices of medicines in Turkey were adjusted several times in 2022, however, due to the strengthening of the exchange rate of the lari against the lira, this decision did not affect the cost of importing medicines from Turkey in Georgia.

The Turkish pharmaceutical market for Georgia was opened in January 2022. As a result, drug prices have become cheaper by 70-80%.

As a result of the opening of the Turkish pharmaceutical market, the population of Georgia annually saves about 200 million lari, the statement of the Ministry reads.