Economic development of the South Caucasus countries in the conditions of the COVID-19 pandemic (სამხრეთ კავკასიის ქვეყნების ეკონომიკური განვითარება COVID-19 პანდემიის პირობებში)

Abstract

Consequently, from an economic, the states of the South Caucasus are suffering significant losses due to the crisis caused by the Cov pandemic.The governments of these countries are taking steps to mitigate its effects, which is reflected in programs aimed at mitigating the economic losses caused by COVID-19 and the economic and social development of the countries of the South Caucasuscountries.Despite the steps taken in this regard, the economic situation of these countries remains difficult, largely dependent on endogenous and exogenous factors that are emerging in the world economy as a whole, on the competent management of local opportunities and resources.The approaches and strategies implemented by the countries are heterogeneous.Georgia lags behind Armenia and Azerbaijan in managing the pandemic crisis, which is reflected in the living standards of the country's population, massiveunemployment, local currencies, a decrease in investment activity and the growth of external debt.State programs can be assessed in different ways, and their criticism from the expert community is undoubtedly acceptable, but the active work of state institutions remains the decisive factor in solving emerging problems.