IMF Against Increase of Minimal Salary

(Tbilisi. March 4, 2003. Civil Georgia) – The International Monetary Fund (IMF) mission found “fiscal pressures would be substantially worsened by any move to implement the proposed new monthly minimum wage of 115 Lari approved by the Parliament,” the IMF Tbilisi office press release, issued today reads.

An IMF mission team led by Mr. Paulo Neuhaus, Assistant Director in the European II Department, visited Tbilisi on February 20-March 3. 

90 MPs voted on 28 February in favor of a proposal by the opposition United Democrats faction to increase the minimum salary from 20 Lari (USD 9.20) to minimal subsistence level – 115 Lari (USD 52.90).

President Shevardnadze said on  March 3 that such an increase is not feasible at present and proposed to raise the minimal salary step-by-step to 35 Lari this year, 60 Lari in 2004.

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