Coronomic crisis challenges for the world and Georgia (კორონომიკური კრიზისის გამოწვევები მსოფლიოსა და საქართველოსთვის)

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Date
2021
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
The economic crisis caused by the Kovid-19 pandemic proved to be the most severe test for the economies as world, so for individual countries. The crisis is still going on, but in its depth and severity it is already surpassing the global financial crisis of 2007-2009 and equating to the “Great Depression” of the 1930s. The coronomical crisis has significantly hampered the process of globalization, but there is currently no real threat for deglobalization. The negative impact of the coronomical crisis on the Georgian economy was extremely large. In 2020, the country’s gross domestic product (GDP) decreased by 6.1% compared to the previous year, in January 2021, the decline in GDP was 11%. The field of tourism, which has been the main source of foreign currency in Georgia in recent years, has found itself in a particularly difficult situation. he anti-crisis activity of Georgia Government can be divided into three stages. In the first phase, the government implemented sharp limitations on economic activity across the country, what became a successful response to the pandemic. In the second stage, the opposite happened - the mitigation of restrictive measures led to the emergence of a new wave of pandemics, which quickly spread from the Black Sea resort area throughout Georgia. Its epicenter was in Tbilisi. The government was forced to carry out again to severe restrictions. We are currently dealing with the third stage, when the process of gradual opening of the economy is taking place against the background of pandemic intensity’s reduction. The final solution to the problem will depend on the optimal combination of mass vaccination implementation and the gradual removing the restrictions of economic.
Description
• Archvadze J. (2020). Saxelmcipo pandemiis pirobebshi sazogadoebrivi aucileblobisa da moqalaqeta tavisuplebis optimaluri tanafardobs ziebashi. [Government in Search of the Optimal Relationship between Social Necessity and Freedom of Citizens in the Context of the Coronavirus Pandemic]. (in Georgian). • Archvadze J. (2020). Koronavirusis pandemiastan dakavshirebuli globaluri cvlilebebi. Tb., “Mtsignobari”. [Global Changes Related to the Coronavirus Pandemic]. (in Georgian). • Papava V. (2020). Coronomic Crisis: When the Economy is a Hostage to Medicine. Eurasia Review. • Papava V., Charaia V. (2020). The Coronomic Crisis and Some Challenges fort the Georgian Economy. Georgian Foundation for Strategic and International Studies, N136. • Rodrik D. (2020). Will COVID-19 Remake the World? Project Syndicate • http://www.project-syndcate.rg/commentary/will-covid-19-remake-the-worldby- dani-rodrik-2020-04
Keywords
Coronomic crisis, deglobalization, anti-crisis policy, mass vaccination, restricting economy
Citation
Economics and Business, №1, 2021, pp. 27-33
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