კონფერენცია

∘ Mariam Khurtsidze, ∘
OVERCOMING POVERTY AND REDUCING UNEMPLOYMENT AS ONE OF THE MAIN CHALLENGES OF GEORGIA

Summary

The work reviews one of the main challenges of Georgia – overcoming poverty and unemployment, which represents the piercing problem for all over the world during the pandemic period. On the base of given material, has been concluded and argumented the ways of reducing unemployment and the means to improve the growth of country’s welfare.

The growth of employment, full employment, overcoming poverty and welfare, still remains the main challenges of many countries. Georgia feels the same – reducing unemployment and overcoming poverty represents the meaningful socio-economic problems.

According to the assessment of the international organizations – International Monetary Fund, World Bank and International Labour Organization – the effects of the COVID-19 will be long-termed on the global labour world and it will cause high levels of unemployment and extreme poverty.

From the socio-economic point of view, four main factors are figured which affect the poverty: targeted social assistance, pension, unemployment and employment. Privately:

The targeted social assistance aims to help the helpless popularity to improve living standards, to grow the social equality and decrease the poverty;
Pension counts a lot in social sphere and supports to decrease the poverty. It is also important that the social function of pension changes into economical in Georgia.
Unemployment talks about degree of welfare and affects on the level of poverty. According to the statistics of National Statistics Office of Georgia, in 2019 the unemployment rate in Georgia amounted to 11.6 percent and compared to the previous years this is the lowest indicator. Unfortunately, the decline of unemployment rate doesn’t represent the meaningful changes in country’s economics.
Employment declines the poverty risk. Moreover, effective employment speeds up economic recovery and solves the social problems existed in the country. Though, the formation of labour-market has not come to its end.

To sum up, in the face of the COVID-19 crisis, governments should review passive and active labor market policies and programs; upgrade labor market policies and programs. In order to reduce unemployment in Georgia and improve the welfare of the country it is necessary to develop appropriate legislative, organizational and financial leverages; to develop the private sector; to get the inclusive economic growth; etc.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Mariam Khurtsidze, ∘ OVERCOMING POVERTY AND REDUCING UNEMPLOYMENT AS ONE OF THE MAIN CHALLENGES OF GEORGIA Summary The work reviews one of the main challenges of Georgia – overcoming poverty and unemployment, which represents the piercing problem for all over the world during the pandemic period. On the base of given material, has been concluded and argumented the ways of reducing unemployment and the means to improve the growth of country’s welfare. The growth of employment, full employment, overcoming poverty and welfare, still remains the main challenges of many countries. Georgia feels the same – reducing unemployment and overcoming poverty represents the meaningful socio-economic problems. According to the assessment of the international organizations – International Monetary Fund, World Bank and International Labour Organization – the effects of the COVID-19 will be long-termed on the global labour world and it will cause high levels of unemployment and extreme poverty. From the socio-economic point of view, four main factors are figured which affect the poverty: targeted social assistance, pension, unemployment and employment. Privately: The targeted social assistance aims to help the helpless popularity to improve living standards, to grow the social equality and decrease the poverty; Pension counts a lot in social sphere and supports to decrease the poverty. It is also important that the social function of pension changes into economical in Georgia. Unemployment talks about degree of welfare and affects on the level of poverty. According to the statistics of National Statistics Office of Georgia, in 2019 the unemployment rate in Georgia amounted to 11.6 percent and compared to the previous years this is the lowest indicator. Unfortunately, the decline of unemployment rate doesn’t represent the meaningful changes in country’s economics. Employment declines the poverty risk. Moreover, effective employment speeds up economic recovery and solves the social problems existed in the country. Though, the formation of labour-market has not come to its end. To sum up, in the face of the COVID-19 crisis, governments should review passive and active labor market policies and programs; upgrade labor market policies and programs. In order to reduce unemployment in Georgia and improve the welfare of the country it is necessary to develop appropriate legislative, organizational and financial leverages; to develop the private sector; to get the inclusive economic growth; etc.