News - Parliament speaker: Sanctions by Georgia against Russia will lead to economic decline by 17%

The representatives of the Georgian opposition demanded that the Georgian authorities impose economic sanctions against the Russian Federation, which will lead to a 17-percent decline in the republic's economy. Speaker of the Parliament of Georgia, Shalva Papuashvili, stated this in a press briefing Friday. "Economists have calculated in detail what result such a frivolous and reckless policy will lead to. In 2022, instead of 10 percent economic growth, Georgia would have had an economic decline of up to 17 percent, which is equivalent to a loss of 18 billion laris—more than 6.6 billion [US] dollars. As a result, we [i.e. Georgia] would have had an economic blow three times stronger than we had during the [coronavirus] pandemic, which is equal to the destruction of the economy," Papuashvili said, commenting on the Georgian opposition's demand to impose sanctions on Russia.