Economy
Posted: 2 years ago

Cost of Living does not Signify that This Sum Suffice for Sustenance

The cost of living does not signify that this sum suffice for sustenance, Gogita Todradze, executive director of Geostat, the national statistics service of Georgia, told BM.Ge.

The cost of living includes the quantity of energy values and minimum volume of calories that are required for maintaining the life of an able-bodied person, Todradze said. 
“If you ask me whether this sum suffice for sustenance, I believe this issue requires individual approach, because there is no international practice in relation to the cost of living. There are a lot of countries that do not calculate this indicator. It is based on the food basket approved by the Health Minister in 2003. Based on statistical reports, Geostat reflects the value of food basket on prices”, Gogita Todradze noted.

We remind you that according to Geostat, for a five-member family the cost of living makes up 361.20 GEL; four-member family – 321 GEL, 3-mmber family – 288 GEL, two-member family – 256 GEL.