TITLE

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

AUTHOR(S)
Silagadze, Avtandil
PUB. DATE
December 2013
SOURCE
Problems of Economic Transition;Dec2013, Vol. 56 Issue 8, p3
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
94418319

 

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