"Georgia's economic growth directly affects citizens' incomes and well-being, Deputy Finance Minister Mikheil Dundua states.
"The economy as a whole covers the incomes of all citizens and economic entities. An increase in per capita income means that general well-being also improves," the Deputy Minister notes.
As per Dundua, poverty still exists in the country, but its scale is shrinking. "Indeed, there is a segment of the population experiencing poverty, but it's a small one, and most people feel their financial situation has improved," Mikheil Dundua stresses.
Dundua points out that a large number of people are now in the relatively high-income group although some challenges still remain.
As per the World Bank, a substantial part of the population has joined the upper-middle class, becoming more prosperous. Roughly, about 40% earn below this level.
While this is a considerable figure, it is projected to decline to 35% by 2028 which is not considered poverty. In practice, poverty should be eliminated by 2028. By 2030, poverty as a problem should no longer exist. We must feel this year after year. This is a scientifically sound, measured statement,"Mikheil Dundua points out.
