Georgia 33rd in world, in Europe’s top 3 for low price level, says World Bank programme
Georgia is 33rd in the world and in the top three in Europe with the low price level, according to the international comparison programme of the World Bank that examines indicators of 188 countries and territories according to purchasing power, Azernews reports, citing Agenda.
In Europe, the Caucasus and the Black Sea region, only North Macedonia and Turkey are ahead of Georgia, while the country has advanced by 18 places in the ranking compared to 2012.
The programme compares price levels of various countries, as expressed in a single currency at a specific point in time. The index in a given country indicates the amount of money needed to purchase the same set of products in that country. The lower the price level index, the less money is needed to buy the same products.
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