Chairman of ruling Georgian party: Imposing sanctions against Russia will lead to a catastrophe for Georgia

05.06.2023, Tbilisi.

The Georgian government refused to impose sanctions against Russia because it would lead to a catastrophe for the Georgian economy, chairman of the ruling party Georgian Dream Irakli Kobakhidze said on TV channel Imedi on June 4.

According to him, if Georgia were to impose sanctions following the West’s demands in 2022, instead of economic growth of 10%, which it had last year, the country’s economy would have contracted by 10%, and in the case of the pessimistic scenario – by 18%.

“This would entail at least 200,000 job cuts, lower wages, the fact that farmers would no longer be able to sell their products, would be left with debts, etc. <…> the tourist season would have been very hard and many people could have been left with debts, loans,” Kobakhidze said.

He reminded about the economic crisis in Georgia in 2020 because of the quarantine restrictions. Then the economic decline was 6.5%.

Georgia has not imposed sanctions against Russia after the start of the Russia’s special military operation on the denazification of Ukraine, but complies with all prohibitions imposed by the West in order not to fall under the secondary sanctions. At the same time, the trade between Russia and Georgia in 2022 increased by 49.2% compared to the previous period. Russia has become the republic’s largest economic partner.

Source: Rossa Primavera News Agency