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Ramaz AbesadzeNana Bibilashvili
CORRUPTION AS ADELAYING FACTOR FOR ECONOMIC DEVELOPMENT

Annotation: The paper examines the impact of corruption on economic development. The focus is made on its global nature, the subjective and objective causes and sources of its origin, and the main measures for overcoming them. The key-words: Keywords: Corruption, Economic Development, Global Corruption, Corrupt Deal.  Introduction  Corruption is a Latin word (corrumpere) which means spoilage. This term is the most often applied to the bureaucratic apparatus and political elite. This means that officials use own status for personal gain, contrary to the established rules of law. Corruption is one of the strongest barriers to economic development, since it causes inefficient use of resources and produces many other negative consequences. Nowadays, it’s  acquired a global character.  ***  Corruption is not a new phenomenon, it had been originated in the distant past. History has preserved the mention of the Sumerian king, Urukagina, from the city-state
2020-12-18
Vladimer PapavaMikheil Ckuaseli
FEATURES OF THE ECONOMIC ABILITY OF A GOVERNMENT UNDER THE CONDITIONS OF THE COVID-19 PANDEMIC

Summary  The article discusses the characteristics of the economic ability of a government as an independent factor of production in the context of the economic crisis caused by the COVID-19 pandemic.  It has been shown that the anti-crisis programs pursued by governments in the context of this crisis ultimately contribute to the zombie-ing of the economy which obviously is not a desired outcome for the economic ability of a government.  In the post-pandemic period, the confrontation between the economic ability and the function of a government to conduct political processes will intensify. Of particular importance for economic progress will be the extent to which the economic ability of a government will be able to overcome its interests in conducting political processes aimed at maintaining and increasing voter support. Keywords:  factors of production, economic ability of the government, pandemic of COVID-19, economic crisis, zombie-ing of the
2020-12-18
George Berulava
SOME THEORETICAL AND POLICY ISSUES OF INNOVATION INVESTMENTS

Investments in R&D and innovations have been fundamental to long-termeconomic growth across countries. The worldwide experience shows that innovations are usually underinvested by private sectors, due to spillover effects, high level of risks associated with them and other market failures. The study explores some theoretical underpinnings of the innovation investment decision, existing problems in financing of innovations as well as the main financial instruments and public policy options in this sphere.  Keywords: Investment, Innovation, Spillover effect, Innovation financing instruments  The worldwide experience suggests that innovation is a key factor of economic development. Enabling “creative destruction” process, innovation ensures structural transformation of economies, enhances competitiveness of individual businesses, and promotes economic growth. Thus, in many developed as well as in catching-up countries promoting innovation and technological
2020-12-18
Tamari Barbakadze
FINANCIAL INSTRUMENTS OF PUBLIC DOMESTIC DEBT MANAGEMENT IN GEORGIA

Summary  The components of public debt are particularly important for ensuring the fiscal sustainability of the state. When managed effectively, the funds raised are a stimulus to the country's economic growth, and while with inefficient management the country may reach a crisis instead of economic growth. It is therefore important to properly assess and identify the needs that are being financed through public debt. This will enable the country to avoid excessive debt and its service costs. Determining what kind of public debt portfolio is optimal depends on the economic situation of a particular
2020-12-18
Khatuna BarbakadzeNato Kakashvili
ON THE ACTIVITIES OF COMPANIES AND THE PRINCIPLES OF TAX OPTIMIZATION

Summary  Actuality.Optimization of taxation for companiesis one of the most important and actual issue. While, this, in turn, provides both the opportunity to reduce costs and the safety of the company's operations. An important criterion for evaluating the effectiveness of a company's management is to plan and execute their operations in order to achieve maximum tax optimization. The main purpose of company executives is to make a profit. This is due to the fact that the main purpose of the shareholders while  they invest in the company is to receive profit from their own investment, which is reflected in the distribution of dividends as a result of the company's profitable activities. As a rule, the company is obliged to tax liabilities, while minimizing these liabilities is an integral part of the company's management activities. Tax optimization represents implemeted activities under current legislation for  tax payments reduction, above mentioned is related to
2020-12-18
Khatuna Berishvili
THE SOCIAL RESPONSIBILITY AND APPROACHES ORIENTED AT COMPANYS LONG-TERM RESULTS

Summary  Research of the social responsibility revealed that at this stage the social responsibility is weakly developed in Georgia. Private sector is involved in the social projects, but mainly these projects are of one-time assistamce character and less likely are of long-term, which systematically tries to reduce  or/and eradicate the social problems. At the same time, main motivator for implementation of the social projects to be implemented by business is formation of positive image in the society and advertising of their own produce. Such sensitive topics are mostly a priority for business, which are acceptable for the society and cause compassion. This factor very much promotes advertising of a business company and increase of its awareness in the society.  At this stage no types of preferences (stimulation, law on social entrepreneurship, etc) exist from the state for those nusiness organizations which implement the social projects and, unfortunately, the sums
2020-12-18
George Bregvadze
THE PROBLEMS OF UNEMPLOYMENT IN GEORGIA

Summary  The paper discusses the problems of unemployment in Georgia. Issues of statistical accounting perfection are analyzed. Given the current situation with the coronavirus epidemic, urgent measures have been put in place to control
2020-12-18
Veronica Bulat
LOGISTICS SYSTEMS IN THE ENTERPRISE AND THEIR KEY ELEMENTS

Summary  Various buildings and structures are involved in the logistic process, the course of the process significantly depends on the degree of preparedness for it of the moving and periodically accumulated cargoes themselves. The preparedness of workers, associated with the amount and volume of goods, workers, as well as the technologies used by the enterprise. Scientific and technological progress has increased the volume of production, thereby reducing production costs. These properties have had a beneficial effect on firms, thereby lowering the unit price. The aggregate of the productive forces that ensure the passage of goods, better or worse, but always somehow organized. In essence, if there are material flows, then there is always some kind of commodity distribution system. Key words: logistics, microeconomics, logistical system, production
2020-12-18
Vakhtang Burduli
PRODUCTION OF INNOVATIVE COMPOSITE MATERIALS AND PRODUCTS FROM THEM AND THEIR USE IN ECONOMIC SECTORS

Summary  This work mainly examines the issues of the production of composite innovative materials (composites) and their use in sectors of the economy. Recently (approximately from the end of the 50s of the twentieth century) all over the world there has been an intensive growth in the production of composite materials and their use in various sectors of the economy, new varieties of them appear and the areas of use are expanding. Meanwhile, the countries of the post-Soviet space lag behind the leading countries of the world in their production. So today their share in value terms in the global production of composite materials is just over 1%. Meanwhile, the tasks of diversifying production, including Georgia, require the development of the sector for the production of composite materials and products from them (here it should be noted that in many cases the technological process of production is such that in the process of a complex cycle of technological operations the
2020-12-18
Saba Burjaliani
THE MANAGEMENT OF HUMAN RESOURCES FOCUSED ON THE SUCCESS OF THE ORGANIZATION

Summary In the article: "The management of human resources focused on the success of the organization" - is an example that if the human resources in the organization are properly managed, then the organization will be successful. This function is assigned to the personnel management service in the organization. The article emphasizes that personnel management services in Georgian organizations are very weak. Mostly non-professionals work there, as there is a large shortage of staff managers in Georgia. The author considers that such specialization doesn’t exist in Georgian higher education institutions. The article discusses the four styles of personnel manager - directive, persuasive, participatory, delegating, and gives managers advice on when, in what situations, to use them. It also lists the conditions on which each of them must be based. The author concludes that personnel managers need to believe that employees can do a lot of good for the success of the organization.
2020-12-18
Tamaz GamsakhurdiaTeimuraz Pestvenidze
A WISE MANAGER AND STATE THINKING

Summary The paper deals with, that the state government should be an apparatus staffed with human resources, knowledge, qualified specialists, experienced and professional people, that should fight to increase the welfare of the country and its population. When the duty and responsibility rests with inexperienced low-skilled specialists and a group of people incompatible with the profession, obviously the quality of performed work will not be high and effective. The governing structure needs a flexible, sensible strategy and vision. Human resources, selected in this way, will bring great benefits to the people and the country. It is noted that the amount of national products in the country is decreasing and the share of such products in imports, which significantly hurts the country's budget is increasing. Our country has a shortage of wheat because we do not sow as much as we need, while the conditions for growing wheat really exist and we can freely create even a supply of
2020-12-18
Natia GogoladzeInga Prangishvili
THE EFFECTIVENESS OF THE USE OF WORKING CAPITAL IN GEORGIAN INDUSTRIAL BUSINESS

Summary  The formation of Georgian industrial potential about moving to Market Economy  have overcome difficult way. Almost the whole spectrum inherited from Market Economy  and the rate of industry has reduced  so much that nowadays the issue of its rehabilitation is utterly problematic even under the conditions of solid investments. The industry is one of the most important fields of the country which combines  the getting of natural material wealth, industrial raw materials  and different   kinds of enterprises which process agricultural products into means of production and the objects of consumption. The level of the industry development extensively conditions social-economic and scientific-technical state of the country. Thanks to powerful economics the U.S.A, Germany, Japan, France and different countries are at the leading positions of the world. The advancement of the country is impossible without the effective function of the
2020-12-18
Zakir Guliyev
RECOGNITIONS AND TYPES OF VALUATION OF FINANCIAL ASSETS

Summary   Accounting for financial assets is one of the most significant sections of accounting, the organized and reliable maintenance of which allows you to get real information about whether the company is profitable or unprofitable and what is the value of the company's net assets.  In the economic literature, there are many studies devoted to various problems of recognition, assessment, accounting, analysis, classification of financial assets.  However, there are no comprehensive studies devoted to the problems of accounting for income and expenses in domestic accounting science.  Such underdevelopment of this topic and the presence of the Republic of Azerbaijan on the eve of the mandatory universal application of international accounting principles emphasize the relevance of this work.  Development of modern methods of reflection in the accounting system of financial assets, criteria for their recognition, generalization and systematization of
2020-12-18
Khanim Guliyeva
THE IMPACT OF THE PANDEMIC ON UNEMPLOYMNET IN THE WORLD

Summary  The COVID-19 pandemic is seriously affecting economic activity around the world. In this context, the study uses an indicator such as global unemployment which has been impacted by the outbreak in the entire global economy. Global unemployment is analyzed in a time frame with the implementation of 2000-2019 and the forecast calculations for 2020-2021; thus, the consequences of the recent global crisis of 2008 and the coronavirus pandemic are compared. In addition, a negative picture is presented, which is expected to create a global scale of the coronavirus pandemic in the near future. The causes of malfunctions caused by the coronavirus pandemic are considered in the light of the numerical indicators and scenarios based on their results. Key words: coronavirus pandemic crisis, unemployment, developed countries, developing countries,
2020-12-18
Nata Davlasheridze
COMPARISON OF VARIOUS MODELS OF THE DIGITAL ECONOMY AND PROSPECTS FOR THE DEVELOPMENT OF GEORGIAN ECONOMIC LEGISLATION

Summary  The article considers the development of the digital economy in Georgia and its regulatory framework and is also provided a comparative analysis with similar indicators of leading countries. It is emphasized that the three main issues of the development of the digital economy and its normative regulation, on which Georgia needs to form its position, in recent years are monopolization and national IT champions; digital currency and long-term government
2020-12-18
Lina Datunashvili
MODERN RURAL ECONOMIC PROBLEMS IN GEORGIA

Summary  The article examines the current state of life in the villages of Georgia and the people living in these villages. Namely - the Strategy and Action Plan for Agriculture and Rural Development of Georgia for 2021-2027, which was created in accordance with the Strategy and Action Plan for Rural Development 2017-2020, as well as the implemented reforms and the experience of the European Union in this field. The document provides detailed measures to alleviate the problems of rural development over the next 7 years in various directions, the implementation of which will to some extent improve the current situation in the countryside. The activities of LEADER-based Local Development Groups (LAJs) established in 12 municipalities of the country within the framework of the EU program ENPARD have been covered, which have implemented projects related to rural economic, social and environmental problems: in Tetritskaro, Dedoplistskaro, Keda and Khulo municipalities. Despite these
2020-12-18
Lia Dvalishvili
AIR POLLUTION ANALYSIS ON THE EXAMPLE OF WORLD COUNTRIES

Summary  Air pollution is one of the most acute environmental problems in the world. In the early cases of mortality, polluted air ranks fourth.  Air pollution develops in two contexts: indoor (domestic) air pollution and outdoor air pollution. In the modern world, fossil fuel combustion contributes the most to air pollution. The movement is also the main culprit, but factories and power plants continue to contribute to this to some extent. These are responsible for improving air quality. Atmospheric air quality standard legislation and format vary by countries. The best standard for measuring the level of pollutants in the air is the Air Quality Index - AQI. China, USA, India, Russia, Japan, Germany, Iran, Saudi Arabia, South Korea and Canada are among the top ten countries in the world in terms of air pollution. Air pollution puts the future of the universe on the agenda. The chance to save the world will be if the society, the state, the nation, the common people
2020-12-18
Tamar Vanishvili
THE POSITIVE AND NEGATIVE SIDES OF INNOVATION MODEL OF MANAGEMENT UNDER PANDEMIC CONDITIONS

Summary  In the work the positive and negative sides of an innovation model of management under pandemic conditions are
2020-12-18
Megi Iakobashvili
GEORGIAN INDUSTRY DEVELOPMENT OPPORTUNITIES

Summary  Georgia's economy has been developing difficultly since independence, making it one of the developing countries. It is estimated that the countries that make up the GDP per capita are less than ten thousand US dollars - belong to the poorest countries, but in our country this figure is not even half of that. Therefore, the accelerated development of the economy is on the agenda, which in turn is unthinkable without the recovery and development of the industry. This article discusses the possibilities of accelerating the development of the industry and the ways to achieve it. To ensure the rapid development of industry, it is necessary to: promote the development of market infrastructure, reduce the tax burden, a stable exchange rate and liberal credit policy, ensure economic legislation and its
2020-12-18
Nazira KakauliaValeri Arghutashvili
LAND REFORM CHALLENGES IN GEORGIA IN TERMS OF INSTITUTIONAL PROPERTY RIGHTS

Summary  The theory of property rights, which established  in the 1960s and 1970s, is developing today as a methodological and theoretical basis for three new directions of economic analysis - the economics of law, new economic history, and theories of economic organizations. The unity of such approaches is commonly referred to as "transactional economics" and "neo-institutionalism". All of the above problems significantly impede the process of country's economic development, and poverty reduction measures remain a distant prospect. The purpose of this work is to identify the problems existing in the Georgian land market and identify possibilities of their solutions by using and applying the institutional leverage of property theory. The work will also focus on the factors hampering the functioning of institutions that slow down long-term economic growth. Georgia as an agricultural country, to a large extent, its development potential depends on the successful
2020-12-18
Ketevan Kokaia
TAX SYSTEM AND TYPES OF REGULATING INSURANCE ACTIVITY

Summary  The article examines other countries’ experience in developing methods and types of regulating insurance activity. Aims, tasks and mechanisms of self-regulation in this field are rationalized. Negative aspects of self-regulation are revealed. In the author’s opinion, a balanced combination of state regulation, self-regulation and co-regulation is needed for increasing socio-economic efficiency of insurance
2020-12-18
Tea Lazarashvili
FORMS, METHODS AND TOOLS FOR STIMULATING INNOVATIONS

Summary  The paper discusses the state incentives for innovations. The classifications of the methods of state stimulating the innovations are considered. The main means of financing innovative activities are established. The national peculiarities of stimulating innovative activities are analyzed on the example of developed countries. The main characteristics of state stimulation of innovations are covered. Keywords: Innovations, State Incentives, Innovation Stimulation
2020-12-18
Medea MelashviliNunu KistauriKetevan Kveladze
SOME ISSUES OF THE IMPACT OF THE PANDEMIC ON ENVIRONMENTAL PROBLEMS

Summary  One of the most interesting issues today is ecology and the problems associated with it in a pandemic. Changes in the environment, especially against the backdrop of epidemics in general and coronavirus in particular, can even be perceived positively today: air purification, especially in large cities, minimizing emissions, cleaning the atmosphere, and so on. However, the universal quarantine will end when it is, and all this will return to the old standards, examples of which can be found in the world.  It‘s hard to say that a pandemic that takes the lives of many people can have any positive consequences, but it‘s quite clear that this is indeed happening and, of course, it has a short period of time. The basic conclusion that the world has clearly seen is that nature really has the ability to restore itself if man does not prevent it to his
2020-12-18
Volodymyr Olefir
FOREIGN AND DOMESTIC TRADE IN COVID-19: THE CASE OF UKRAINE

Annotation. The conditions of functioning of foreign and domestic trade in Ukraine in the conditions of the COVID-19 pandemic are investigated. The positive effects and negative consequences of trade policy under the COVID-19 pandemic, during the Great Depression and the global financial and economic crisis of 2008 are analyzed. Measures to establish the normal operation of small retail businesses during a pandemic are proposed. Key words: foreign trade, domestic trade, Ukraine, trade policy, COVID-19  The COVID-19 pandemic has radically changed the way people live in many countries. Social distance and restrictions on social contacts have become the norm. This had particularly negative consequences for small retail businesses. Prospects for overcoming the COVID-19 pandemic remain unclear. The urgent task is to establish the normal operation of domestic and foreign trade in the pandemic. In Ukraine, the first infected COVID-19 person was found on March 3, 2020. Since then,
2020-12-18
Nino Zhorzhikashvili
THE ESSENCE OF INNOVATIONS AND THE FACTORS HINDERING THEIR SPREAD IN THE GEORGIAN HEALTHCARE SYSTEM

Summary      Fast pace of the globalization process ensures changes of industrialization, urbanization, economic and political liberalization, social and environmental policies in the global scale, which is related to hight benefits for population, however, this process has a negative impact on public health, which causes the environment pollution, climate change, bio-terrorism, military conflicts, humanitarian disasters, etc. As a result, the growth of healthcare expenditures is acute for any country. Healthcare is a special area of ​​service that plays a major role in shaping quantitative and qualitative indicators of economic growth. An effective healthcare system is a guarantee of national security. Thus, the proper and successful operation of the healthcare system is essential for increasing the country's welfare and socio-economic development. At this stage, we will focus on the problems of spread of innovations in the Georgian healthcare sector, because
2020-12-18
Giorgi Sanadze
THE IMPORTANCE OF INDUSTRIALIZATION AFTER THE GLOBAL FINANCIAL AND ECONOMIC CRISIS

Summary  The following article clarifies the key concepts of industrialization especially after the different global and financial crises. It should be mentioned that Industrialization itself covers all of the social and economic parts closely related to the transformation processes from an agrarian economy into an economy where modern technologies play a crucial role. In terms of industrialization, we strongly figure out the processes closely related to various demands for products and services erected in different types of social groups. In the article, the financial and economic crisis is defined mainly as a social-based. But in some cases, the crisis might be caused by a pandemic situation. The empirical observation on industrialization's impact on society began at the First Industrial Revolution. However, in order to study the effect of industrialization, great importance was attached to the geographical area of its distribution and the cultural characteristics of the
2020-12-18
Zhanara Seriyeva Lyazipa Medukhanova
THE TRADE AND ECONOMIC RELATIONS BETWEEN KAZAKHSTAN AND KYRGYZSTAN: CURRENT STATE AND PROBLEMS

Summary  In this article, we will consider the trade and economic relations between Kazakhstan and Kyrgyzstan between these Central Asian countries. A reliable Foundation for the formation, development and strengthening of relations between the republics of Kazakhstan and Kyrgyzstan is the geographical proximity of the two countries, deep historical roots, common language, culture and traditions. Therefore, the development of cooperation with the Kyrgyz state remains one of the tasks of Kazakhstan's foreign policy. Establishing good-neighborly and stable relations with the neighboring Kyrgyz country is one of the important factors in ensuring the national security of the two countries. The purpose of the article is to study the current state and development of trade and economic problems in Kazakhstan and Kyrgyzstan. To achieve this goal, we used such methods of analytical and statistical research as analysis of foreign and domestic publications on the topic under study,
2020-12-18
Valeri Arghutashvili
EFFECTIVENESS OF NATURAL DISASTER MANAGEMENT PROJECTS IN GEORGIA

Summary  Natural disasters have increased with climate change. The amount of damage caused by the disaster has increased. During the last 40 years, the economic damage amounted to 14 billion dollars in Georgia. Consequently, in such conditions, different activities and projects implemented by the state in the field of prevention and preparedness are very important. This study presents several projects, despite the implementation of which it seems that there are still disadvantages in disaster risk reduction in Georgia. The problem was identified in two main areas: inefficiency of project management and lack of coordination mechanisms. In particular, the state does not implement all stages of the project life cycle effectively, and also, coordination mechanisms are weak, so agencies and organizations involved in disaster risk reduction work on the same issue without communicating with each other. In order to improve the current situation, it is important to prepare a guide
2020-12-18
Sesili Tabatadze
EFFECTIVENESS OF NATURAL DISASTER MANAGEMENT PROJECTS IN GEORGIA

Summary  Natural disasters have increased with climate change. The amount of damage caused by the disaster has increased. During the last 40 years, the economic damage amounted to 14 billion dollars in Georgia. Consequently, in such conditions, different activities and projects implemented by the state in the field of prevention and preparedness are very important. This study presents several projects, despite the implementation of which it seems that there are still disadvantages in disaster risk reduction in Georgia. The problem was identified in two main areas: inefficiency of project management and lack of coordination mechanisms. In particular, the state does not implement all stages of the project life cycle effectively, and also, coordination mechanisms are weak, so agencies and organizations involved in disaster risk reduction work on the same issue without communicating with each other. In order to improve the current situation, it is important to prepare a guide
2020-12-18
Irma Tkemaladze
THE ROLE OF REMOTE EMPLOYMENT IN REDUCING THE NEGATIVE EFFECTS OF THE COVID-19 PANDEMIC

Summary  The character and conditions of work are constantly changing, new professions are emerging, the share of intellectual workers is growing. The development of technology creates favorable conditions for remote work. The spread of the Covid-19 pandemic has accelerated these processes and made employment of people in this kind of form as a part of the work culture for the most organizations. Georgia is no exception in this case. Since March 2020, work through remote platforms, has been successfully implemented and realized on the Georgian labor market, in those fields and areas where presence of the workers on the workplace was not a necessity. The quarantine regime has become a kind of motivator for each employer to think about the implanting of the remote model instead of the standard model of employment, not only in terms of Covid-19, but also in the post-pandemic period. It is important to study and evaluate the results of remote work mass practice. The paper
2020-12-18
Tengiz Kavtaradze
FOOD PROCESSING MODERN ECONOMIC PROBLEMS IN GEORGIAN OX BREEDING

Summary  In Georgia ox breeding is quite well developed. This field in republic economy has important place. Its development level is conditioned by specifical natural in Georgia – ox winter and spring pasture; Georgian ox is giving special taste of meat, high quality carpet wool and cheese and it is famouse outside of our republic. Demolition of social farming, massive land privatization, disruption of social agricultural infrastructure, lost in Caspian region of 200 ha winter pastures, has caused ox breeding field huge decrease, was violated between mountain and lowland economic links. Which coused by migration from mountain villages. Ox breeding is profitable field, which is necessary for development of infrastructure, approaching to world standarts and improving competitiveness. By this viewpoint we expediently belive with North Coucasus has to be make joint ox breeding farms, we would be use our spring pastures and our shepherds will  be use Kizlar winter
2020-12-18
Medea MelashviliNunu KistauriKetevan Kveladze
THE ROLE OF VIRTUAL TOURISM IN THE ECONOMIC DEVELOPMENT OF THE COUNTRY

Summary  Among the new types of tourism today - virtual tourism is special, when the virtual becomes real, and the real - virtual. The paper is dedicated to such a popular problem today as tourism in general, and its virtual form in particular. The author compares the classic and virtual types of tourism, discusses the pros and cons of each of them, as well as emphasizes the special importance of virtual tourism as the most convenient and comfortable service for travelers in a pandemic. It is also noted that the development of virtual tourism is unthinkable without digital technologies. Georgia is also trying to keep pace with world innovations and, as far as possible, use the surname "Second Life". In addition to interactivity, speed and unlimited access, the Internet has created a prerequisite for the emergence of such an innovative and paradoxical event in tourism as `Virtual Tourism`,` Virtual Excursions`, 3D Excursions, 3D Panoramas, 3D Tours. The paper also discusses the
2020-12-18
Medea MelashviliNunu KistauriKetevan Kveladze
INTERNATIONAL CAPITAL MOVEMENT AND THE IMPACT OF THE PANDEMIC ON IT (ON THE EXAMPLE OF GEORGIA)

Summary  The international capital movement, as an important feature of the development of the modern world economy, has a global character. This process has been particularly active since the second half of the twentieth century, which has its pros and cons for both donor and recipient countries. Foreign direct investment has the predominant role. In the world market, these investments are the basis for the dominance of transnational companies. The movement of investment flows is different in developed, developing and transitional economies, as can be well seen in the digital material presented in the
2020-12-18
Ana Chagelishvili
THE IMPACT OF THE PANDEMIC ON EMPLOYEES WAGESIN GEORGIA

Summary  As in the rest of the world, the pandemic crisis has caused a number of economic problems in Georgia: The unemployment and poverty rate has increased, the national currency has been depreciated, and so on. It had negative impact on employees wages and on a number of  workplaces. A number economic sectors, such as education, office work and etc. quickly adapted to changing circumstances by working remotely and online, however, in many areas it could not be managed and organizations were forced to make unpleasant decisions such as wage cuts, making unpaid or even firing from the work. During the pandemic crisis, the legality of lowering wages and dismissal from the work have become the subject of disagreements between employer and employee. According to the current legislative norms, we can conclude that in the context of such a global threat, the issue of reducing wages and terminating the contracts because of a decrease in the organization's income is completely
2020-12-18
Lali Chagelishvili-AgladzeImedo Jashi
PANDEMIC AND CONCEPTUAL ISSUES OF ECONOMIC DEVELOPMENT OF THE REGION

Summary  The pandemic puts on the agenda the most harmonized use of the resource potential and priorities of countries and regions and the deepening of export-oriented economic policies. Under the conditions of the pandemic, the tourism sector suffered the most. International tourism flows have stopped, which has completely changed the further activities and strategic visions of the tourist regions and structures. Today, the strategic vision of this field is the development of domestic tourism, which requires the formation of the right strategy and its effective implementation. In the paper as the object of the study  is selected Kakheti region and the use of tourism potential in it. The aim of the study was to substantiate the efficiency of cluster parameters, for which the K-means method of cluster analysis was used. The effective functioning of clusters depends on the distance of the groups within it and the impact of the variables. Clusters are not equally sensitive
2020-12-18
Malkhaz Chikobava
MONETARY-FISCAL POLICY MIX AND EXPECTED SOVEREIGN DEFAULT RISK

Summary  The article analyzes the monetary policy against the background of the viral-economic crisis. It is noted that the US Federal Reserve System is actively involved in the process of rescuing the American economy, which has launched the "printing press" of the dollar at full capacity. Additional issued dollars are mainly used to buy corporate stocks and bonds on the stock markets. There is a rapid growth in capitalization of the leading American IT corporations, and in fact - inflation of financial bubbles. COVID-19 is clearly provoking serious changes in the economies of all countries of the world, one of which is the decrease in the role of central banks in the context of the increasing role of finance ministries. It turned out that central banks are unable to completely eliminate the economic imbalances that have arisen during the current crisis. The global economy has not yet managed to overcome the crisis, despite the fact that the central banks of the leading
2020-12-18
Zurab Tsereteli
COMMON ECONOMIC PROBLEMS CAUSED BY PANDEMIC AND EXPECTED PROSPECTS

Summary  The paper presents the common economic problems, challenges and complications which are and will be held in the most countries during and in the post pandemic time. The focus is mainly made on the coronavirus (COVID 19) pandemic. It presents the negative aspects that are common in all over the world. In the work is also briefly discussed: 1) The role and purpose of the state in these uncertain times; 2) Returning to the idea of ​​nationalism and/or  to the national state; 3) Globalization and anti-globalization; 4) The priorities of socio-economic development; 5) Confidence to the scientific experts, and professionals. In the conclusion is outlined our view about future of the world economy in the light of the post -pandemic  time, as well as it is given our outlook to some implemented measures or on which  that should be  implemented in that case. Keywords: economic complications, pandemic, economic problems, global challenges, corona virus,
2020-12-18
Khatuna KharkhelauriTamari Kajaia
SPECIAL TAX REGIME IN GEORGIA AND ITS EFFECT ON SMALL BUSINESS DEVELOPMENT

Annotation. The development of small and medium-sized businesses in Georgia plays an important role in improving the difficult socio-economic situation, overcoming poverty and unemployment. Small and medium enterprises play an important  role in the development of the country's economy, they make a significant contribution in ensuring sustainable economic growth and can be considered the cornerstone of any country's economy. Reforms are being implemented for the development of small and medium businesses, whose success is preceded by step-by-step monitoring and analysis of the results obtained. Keywords: Small and medium business, Special taxation regime  Introduction  Special tax regimes apply under the Tax Code of Georgia: a)         Individuals with micro business status; b)        For entrepreneurial individuals with small business
2020-12-18
Lela Kheladze
THE ISSUES OF THE IMPROVEMENT OF LEGAL REGULATIONOF THE ACTIVITY OF CONSTRUCTION COMPANIES

Summary  Introduction and aim: Construction is one of the fastest growing and developing branches of Georgian Economy and it has its specific aspects. One of the main ways to get Georgian Economy out of the crisis and rebuild it is developing the construction business. This is only possible in the condition of healthy economic environment and right legal regulation. Various political-economic, financial, exogenous and endogenous factors affect Georgian building industry. According to statistical data, the development of construction field helps economic growth and plays important role in employment projects of population. The development of construction business encourages the rise of economic potential of the country the development of national farming customs, it also improves the social and cultural living condition of the population. The aim of the research is to study and analyze the legislative norms that regulate the activity of construction business sector in Georgia.
2020-12-18
Alimi Kherkhadze
THE PROBLEMS OF INEQUALITY OF ECONOMIC DEVELOPMENT AND THE OPPORTUNITIES OF THEIR SOLUTION IN THE REGIONS OF GEORGIA

Summary  The reality in a certain region of Georgia is an important indicator of the economic, political or social strength of the country. Therefore, proper analysis and problem solving is an important issue. The regions of Georgia face significant challenges, their development opportunities are quite different, and as a result the population is unequally settled. The majority of the population lives in municipal centres and areas where the level of economic activity is relatively high. An analysis of foreign investment, economic activity, GDP, per capita income and other economic indicators reveals that the index of socio-economic well-being of the population is substantially higher than the resident of the region. The gap of inequality between the regions of Georgia is growing from year to year. Most of the foreign investment and start-up companies in the country still are in the centre, and the region depends on state funding, which is insufficient. Local budget revenues
2020-12-18
Revaz Javakhishvili
DYNAMICS OF FOREIGN DIRECT INVESTMENT AND ITS MAIN TRENDS IN GEORGIA

Summary After gaining independence in Georgia, certain steps have been taken to attract, encourage and protect investment, to create and improve an appropriate legal framework.. As a result of the adopted laws in 1995-1998 by the Parliament and the amendments made to them, legal guarantees for the implementation and protection of both local and foreign investments were created, which contributed to the systematic increase in the attraction of foreign investments in the country. The paper analyzes the main trends and peculiarities of the dynamics of foreign direct investment according to certain stages of reform and development of the Georgian economy. It focuses on the recent decline in foreign investment in the country, such as the completion of large-scale investment projects during this period and the problems caused by the Coronavirus pandemic from 2020. It also emphasizes that we need to properly understand and learn to coexist cohabitate with any virus, not only in terms of
2020-12-18
Emzar JulayidzeElizbar Barbakadze
MANAGERIAL RELEVANT DECISIONS’ PROBLEM TO BUSINESS ENVIRONMENT CHANGES

Summary  The first and the most important milestone of making a decision is to realize the necessity of making a decision. This kind of necessity is provided by changes in business environment, which can make as opportunities as some kind of risks. Therefore, in order to make a successful decision it is better to analyze all possible alternative of achieving the aim of business, identify these alternatives to company`s opportunities and desired state, form activities which will avoid some dangers. According to these activities, there should be made consecutive and complete curriculum in order to achieve the goal. Otherwise, create a plan, which will completely represent company`s reaction to domestic and external problems. It should be mentioned, that these kind of problems in management increase by the time. Therefore, increasing intensity of making decision encloses with modern management. It conditioned by, that the organisations’ forced to provide for fast changes
2020-12-18