Priorities for the Economy of Postcommunist Georgia in the Context of the World Financial Crisis

Silagadze, Avtandil
December 2013
Problems of Economic Transition;Dec2013, Vol. 56 Issue 8, p3
Academic Journal
A difficult situation has emerged in the economy of postcommunist Georgia as a result of both the world financial crisis and the war with Russia (August 2008) and also of internal causes, including insufficient use of national resources. In order to improve socioeconomic conditions it is necessary to mobilize national resources to the utmost and activate government support for the production facilities that rely on them. At present only a small part of the rich potential that exists in Georgia's industrial and agricultural sectors is being used, while the country's foreign debt and dependence on imports are growing rapidly. At the same time, simplification of the procedure for the registration of businesses and a significant rise in their number have not found adequate reflection in productivity. The Georgian government has no real long-term program for the development of the economy. The conduct of a correct economic policy will enable Georgia to overcome the grave socioeconomic situation and attain average European levels of per capita gross domestic product, unemployment, and inflation.


Related Articles

  • ECONOMY.  // Background Notes on Countries of the World: Sweden;Mar2009, p7 

    The article presents information on the economy of Sweden. The highly industrialized country is a leading producing and exporting nation with its extensive forests, rich iron ore deposits, and hydroelectric power. The country was able to avoid the effects of the current financial crisis because...

  • Summary.  // Quarterly Report on Inflation (Magyar Nemzeti Bank);Feb2009, p7 

    The article focuses on the economic conditions in Hungary and the impact of world recession. It notes the projections on economic performance and the government measures and policies to mitigate the adverse effects of inflation. Also discussed are the ratio between the deficit and the gross...

  • Oil To Drive Shaky Recovery In 2011.  // Latin America Monitor: Andean Group Monitor;May2011, Vol. 28 Issue 5, p1 

    The article reports on the reliance of Venezuela to the oil industry due to the effect of the economic crisis. It is noted that ten percent of the country's gross domestic product (GDP) is coming from a portion of oil accounts from its exports, and that the increment of global oil prices will...

  • Assessing The Damage.  // Asia Monitor: South East Asia Monitor Volume 1;Mar2010, Vol. 21 Issue 3, p6 

    The article reports that a full year recession in 2009 was suffered by Cambodia. The result of the global downturn in 2009 was tough to be quantified due to lack of timely GDP data in Cambodia. It reports that Cambodia will return to seven percent real GDP growth with the economy's low base,...

  • Economic Overview. Coleman, Denise Youngblood // Georgia Country Review;2013, p105 

    The article presents an economic overview for the Republic of Georgia as of July 2013, including information on real gross domestic product (GDP) growth rate, economic history and inflation rate.

  • Business Environment.  // France Food & Drink Report;Q1 2012, Issue 1, p12 

    The article presents an overview of the condition of the food and drink industry worldwide. It states that the ongoing European debt crisis and the downward revision to the historical gross domestic product (GDP) series were among the certain events that exemplified that 2008-2009 period has...

  • Policy Initiatives in the Global Recession: What Did Forecasters Expect? Carvalho, Carlos; Eusepi, Stefano; Griss, Christian // Current Issues in Economics & Finance;Feb2012, Vol. 18 Issue 2, p1 

    The global recession of 2008-09 led to monetary and fiscal policy responses by central banks and government authorities that were often unconventional in size and scope. A study of expansionary measures employed during the recession suggests that overall, the policies were likely effective in...

  • Out Of Recession, But Not Out Of The Woods.  // Middle East Monitor: East Med;Oct2009, Vol. 19 Issue 10, p1 

    The article reports on the economic recovery of Israel from the global financial crisis. It is stated that the growth in gross domestic product (GDP), improving trade, buoyant inflation, strengthening currency, and the rise of export products are the factors that help contribute to Israel's...

  • Appraisal of The Effect of The Global Financial Meltdown on The Nigerian Money Market. AJAO, Mayowa Gabriel; FESTUS, Babatunde Oshobuye // International Journal of Economics & Finance;Sep2011, Vol. 3 Issue 4, p95 

    This study looked at the effect of the global financial meltdown on the Nigerian money market. To start with, it identified the major problems associated with the Global financial crisis and its effects on the Nigeria economy. As the crisis affect trade and investment flows, the Nigerian money...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics