20 research outputs found

    ASPECTS OF POST-SOVIET ECONOMY AGAINST THE BACKGROUND OF THE ASSOCIATE AGREEMENT WITH THE EUROPEAN UNION

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    After the collapse of the Soviet Union, at the beginning of the 1990s, Georgia regained its independence and began the process of building a market economy. It went quite painfully and was compunded by internal and external conflicts. here were dismal failures and successes in the economy. n 2012, as a result of democratic elections, new forces came to power in the country. From then on, business was no longer subject to political pressure, confiscation of private property by the government and people close to it ended, the court was given the opportunity to make fair decisions, the medium-term program for socio-economic development was formulated, and more attention was paid to the development of economy's real estate sector. The integration with the European Union has gained irreversible nature: the growth rate of GDP hovered around 3% and the average annual inflation rate did not exceed 2-2.4%. Since 2008, the volume of foreign direct investment reached its highest level, export indicators significantly increased, the share of foreign trade in the EU increased, the employment rate increased 12.4% (from 16.3% in 2010), and the volume of state debt and the ratio to the GDP became stable. Particular attention was paid to the realization of social programs in the condition of small incomes and pension.Unfortunately, due to low incomes, a large part of the population is employed abroad, and the volume of their remittances is growing. According to the population 2015 census, there was a 17% reduction in population size. The integration into the European Union opens up new opportunities for the country, but only through hard work will it be possible to achieve the "economic convergence criteria."

    POPULATION AGING – A GLOBAL CHALLENGE

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    SOME ASPECTS OF THE GEORGIA-CIS TRADE RELATIONS

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    The paper emphasizes that the Commonwealth of Independent States (CIS) was created after the collapse of the former Soviet Union. In addition to the Baltic States (Estonia, Latvia, Lithuania), all the former Soviet republics united in this Commonwealth in 1991: Azerbaijan, Belarus, Moldova, Armenia, Russia, Tajikistan, Uzbekistan, Kazakhstan, Kyrgyzstan, Turkmenistan (an associate member since 2005), Ukraine (withdrew from the organization in 2018) and Georgia (withdrew in 2009, 1993). On August 26, 2005 Turkmenistan refused to be a full member and now it is an associate member. Initially, the maintenance of traditional economic ties was very important for the post-Soviet countries included in the CIS. Soon it became clear that Russia used the CIS to strengthen its influence on its member states. Because of this, some countries, including Georgia, left the "Commonwealth" and expressly chose the European course. Nevertheless, up to date foreign trade, on the free basis, plays an important role in Georgia's economic development. According to the conclusion made in the paper: Georgia's export to the CIS countries is much higher than to the EU countries - despite the increase of the share of the EU countries in recent years. According to the data of 11 months of 2018, the CIS countries - Azerbaijan, Russia and Armenia occupy 1-3 places of the five largest export countries of Georgia. Import of Georgia from the CIS countries in 2003-2017 increased 6.7 times; in Georgia's total import from the CIS countries in 2017 Russia had the highest percentage - 23.3%, Azerbaijan - 16.2% and Ukraine - 13.5%. In spite of difficult political relations, trade between Georgia and Russia did not cease: increased both exports and imports indicators. In addition, the difference between them is 2 times more for Russia; the CIS countries are important partner countries for foreign trade, including a large partner-the Russian Federation, but its market is often unstable due to political pressure (it does not fulfill its commitment to WTO membership), which further accelerates Georgia's foreign markets diversification

    SOME ISSUES OF TAX INCOME IN GEORGIA

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    ABOUT THE ORIGINS OF MODERN GEOECONOMIC FOUNDATIONS OF GEORGIA

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    Georgia is a country with a favorable geographical location, soil, climate conditions, natural and civilization resources, culture, human capital. Georgia is at the ancient transport crossroads which connected and connecting the countries of the North and South, West and East. The old Silk Road was the main artery crossing the country and connecting Europe and Asia. Georgia borders the Black Sea. To the east, via Azerbaijan, the country has historically been linked to the Caspian Sea and then to Central and Eastern Asia. Such a location provides the country with favorable conditions for the development of the international economy as well as the economy as a whole. However, Georgia often did not use these favorable conditions. For many centuries, the country struggled for physical and spiritual survival. The country often lacked the necessary historical function, which is completely defined by the historical function of the country in the international political, economic, cultural and religious system. The situation has changed since Georgia has firmly taken the way towards Euro-Atlantic values. It is now important for Georgia to perform the function of transport corridor, including not only the movement of energy carriers. As a result of the reinforcement of integration processes, the United States, NATO and the European Union have become key strategic partners of the country. Georgia is becoming the center of economic and political interests of various world powers. The government of Georgia, its strategic partners and international investors have developed projects on Anaklia deepwater port, as well as Poti port and on the increase of the Batumi terminal’s international transit potential, and other major projects that represent a long-term guarantee of stakeholders interests. Georgia has become an associated member of the European Union. Citizens of the country are already enjoying visa-free travel and free trade with Europe. It forged relations with its strategic ally, the United States. Georgian citizens gained the right to legal employment in European countries by their respective professional qualifications. In such a geo-economic context we can think of ways to move Georgia forward. With such an approach, the country will play an important role in the pursuit of Euro-Atlantic policy in the Caucasus sub-region as well as in the interests of traditional partners and other countries in the region

    GEORGIA’S TRADE RELATIONS WITH CIS AND EU MEMBER STATES

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    SOME ASPECTS OF NATIONAL ECONOMIC DOCTRINE

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    Doctrines which substantiated introduction of market economy elements and priority of development of real sector , e.g. industry, at certain stage of the development of national economy have held an important place in the history of economic thought. Classes were the very first to develop such doctrines. (Silagadze, A., 1996, 2000, 2001, 2006-2016; Kharitonashvili, 2008; Silagadze, A. and Atanelishvili, T., 2006-2007, 2010-2011, 2013-2014).The issue was quite challenging at the first stage of building capitalism in Georgia (19th century). Niko Nikoladze, a Georgian public figure (1843-1928), emphasized the high priority of the issue in those times. (Nikoladze, N., 1960-2003; 2006; Gamezardashvili, D., 1983; Janelidze, O., 1988; Silagadze, A., (Editor), Atanelishvili, T., Goshadze, G., (Edit.), Demetrashvli, T., Zurabishvili, V. (Edit.) - 2005; Silagadze, A. and Atanelishvili, 2004). His attitudes are still important in post-Soviet Georgia which heavily depends on import. The fact is that instead of using rich local resources, Georgia tends to import goods which the country has a real ability to produce itself. Poor development of real sector of economy has remained an Achilles' heel for years. Tourism is a priority for the country, but during economic crises tourist flows stop and if there is no alternative, the country will face a deep crisis. (valchrelidze, A., Silagadze, A., Keshelashvili, G., Gegia, D., 2011)According to the conclusion made in this article, Nino Nikoladze's doctrine which complies with "classic" attitudes, complies with both "classic" and national economic doctrines of Germany. It also complies with Ilia Chavchavadze's economic doctrine with the difference that Ilia believed that agriculture was of highest priority while Niko Nikoladze believed industry to be the most important. In general, his economic doctrines implies priority development of national industry, deepening of west-east sea and railway ties, construction of ports, supporting of export, careful demilitarization, and improvement of market mechanisms of price formation, etc.

    SOME ASPECTS OF THE GEORGIAN ECONOMY AT THE CONTEMPORARY STAGE

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    In the former Soviet Union the economy of the Georgian Republic occupied advanced positions. At the very first stage of the restoration of independence the post-Soviet Georgia’s economy declined 3-times; in the following years, the situation improved, but it reached the 1990 level only after 15 years. In spite of difficult problems of development it should be singled out the middle period progress of the 90-ies when the country introduced a new currency - Lari, created conditions for attracting foreign investments, economic growth was expressed in double-digit figures; it created an independent banking system, rapidly implemented the program of privatization, strengthened the links with international financial organizations and others. By this time, the private sector’s share in the state budget revenues was already 80%. After the end of the 90-ies, in a few years, economic reforms stalled. After the “Rose Revolution” - until 2012, the development of economy was greatly influenced by tightened administrative methods, foreign loans, foreign investment, and so forth. Unfortunately, at this stage of development, a property encroachment for the government became common practice in such a way as pressure on business. In recent four years, more attention was paid to the actual development, deepening of integration with European Union, the governmental pressure on business was removed. However, because of the lack of jobs, labour force continues to flow abroad

    THE USE OF DRINKING WATER IN THE CONDITIONS OF MAINTAINING ECOLOGICAL BALANCE

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    Central Caucasus is an important transit place for the "Great Silk Road"; an important role in it is assigned to the Baku-Tbilisi-Supsa and Baku-Tbilisi-Ceyhan oil pipeline, Baku-Tbilisi-Erzurum gas pipeline and the Baku-Tbilisi-Kars railway line which is at finishing stage of its construction, and others. The countries of Central Caucasus can make a meaningful contribution to the construction of the "New Silk Road" with other untapped rich natural resources. Especially attractive for investors can be the Georgian underground artesian renewable, biologically clean drinking water reserves of international importance; an effective utilization of their small part can make a significant contribution to the resolving of high quality drinking water supply problem for millions of people in Europe and Asia. After the collapse of the Soviet Union, independent post-Soviet Georgia has passed through the toughest period of reforms, conflicts and development. A significant part of its territory is still occupied, the economy is weak; the country is oriented to the European Union. In this light the country should use foreign experience and capabilities in the real sector (agriculture, mining industry ...). In post-Soviet Georgia according to the current legislation, foreign investors enjoy the same rights as domestic ones. A large part of the world's population suffers from water shortages. In Georgia this resource is virtually untapped (only 0.01 is used). This resource will further rise in price on the world market of raw materials. Through the participation of foreign investors Georgia can make its contribution to the solving of the above-noted global problem in different directions: By the exploitation of freshwater resources Georgia should become a larger producer and exporter of drinking water until the problems of products transportation arise; the second part of underground water reserves should be provided to Europe and other countries through pipelines. Thus, there is proposed a model of bacteriological pure underground artesian water supply from Georgia to Europe in the conditions of maintaining ecological balance. This model takes into account the analysis of water pipeline alternatives, “Georgia-Europe” pipeline construction, as Europe's population is in need of high-quality drinking water, and Georgia is interested in its export

    SOME ASPECTS OF STATE EXTERNAL DEBT

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