Trade War: Georgia vs. Russia

Objectives. The relevance of the study of socio-economic rejection in Ukraine is determined by the increase in the number of factors of turbulence in the economy of Ukraine as a response to the degree of increasing uncertainty of financial security and the growth of Ukraine's debt indicators. The purpose of the article is to summarize and present the causes and forms of the phenomenon of socio-economic rejection in Ukraine at various levels of its manifestation through the prism of financial interpretation of the actual turbulence of the economy. Methods/Approach. The research was based on expert reviews and assessments of the state of the state budget, the amount of state debt, modern theoretical and methodological, regulatory and legislative aspects of the amount of international financial assistance; methods of dialectics, methods and principles of scientific knowledge, tools of statistical and economic analysis are used. Results. The obtained results of the research created a basis for substantiating the regularity and algorithms of the manifestation of the phenomenon of socio-economic rejection as a result of the growth of social tension, financial obligations and the ratio of the amount of public debt to the size of the country's gross domestic product. The trends of changes in the export potential of key global exporters were studied as criteria for forecasting financial capacity and dependence on external borrowing. The cost of public debt service was analyzed from the point of view of the impact of this indicator on the size of the public debt and the possibility of intensive development of the country's economy. It was established that, taking into account the laws of turbulent entropy logic, it is necessary to rely not on one trajectory of the development of the socio-economic and financial system, but on a set of the most likely development scenarios, including those that are unlikely. The practical value of the research results is related to a number of proposals for Ukraine's exit from the systemic crisis through qualitative changes in its leading idea: representation on the financial market, construction of the architecture of new target orientations, which form a new vector direction of development for the search for positive synergistic effects. Conclusions. It has been established that the primary means of leveling the manifestations of socioeconomic rejection is the formation and observance of a state strategy for reducing the state debt, compliance with state guarantees, social obligations, which will guarantee social involvement, social justice and the economic effectiveness of the social contract with the population.

Section: Ukraine's Economy Is In a State Of Turbulencementioning

confidence: 99%

Financial aspects of socio-economic rejection in Ukraine in conditions of economic turbulence

Likhonosova,

NENCHEVA,

Ismailov

et al. 2024

“…Trade Agreement (DCFTA) with the European Union, the export of Georgian products and their competitiveness in the world market became particularly important (Abuseridze, 2020).…”

Section: Clarification Of Basic Concepts Hypo Thesismentioning

confidence: 99%

Untitled

2022

In the modern world, which is experiencing more globalization, the entrepreneurship and its development are important.Business at the modern stage is one of the most promising areas to stimulate the economy, business support and its perfection should be one of the main priorities of the state, because as a result of its development the country develops both economically and socially. Objectives: To clarify what kind of impact did the pandemic have on previously mentioned issues and what were other development hindering factors. A study was conducted to analyze the situation of small and medium business sectors, which aims to identify the problems that Georgian entrepreneurship is facing todayMethods/Approach: Both qualitative and quantitative studies carried out in business sector in Georgia Results: The results gained within the study and further recommendations significantly define the role of small and medium-sized business sectors for Georgia. The paper gives us a clear conception on the current situation and enables us to make relevant conclusions based on the obtained results.

“…The Russian embargo made it clear that modern challenges in Georgia's trade relations required greater diversification in order to avoid and prevent potential threats in the future. Following the signing of the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union, the export of Georgian products and their competitiveness in the world market became particularly important (Abuseridze, 2020).…”

Section: Introductionmentioning

confidence: 99%

Transformation of Georgia’s trade policy strategy: from frailty to sustainability

Abuseridze¹,

Petrova²,

Zahars³

et al. 2022

Self Cite

The following article reviews the trade policies and practices of Georgia as well as Georgia-WTO relationship. The authors focus on Georgia's recent economic performance, including Association Agreement (AA) with the European Union that contributed powerfully to stabilising Georgia's trade legislation and reinforcing domestic economic reform. The Association Agreement between Georgia and the European Union and its member States aims at Georgia's gradual economic integration into the EU Internal Market, through the establishment of the DCFTA, which should provide for far-reaching market access based on sustained and regulatory approximation. The study reveals the importance of the World Trade Organization, main trade agreements and arrangements with Georgia as a developing country. It demonstrates that effective trade stabilization in the WTO can be achieved by the implementation of specific WTO's regulations on trade, economic and legal spheres. One of the reasons for the special success of the WTO is systemic exceptions for developed countries and states with special needs (country like Georgia) that contributes to the development of international trade through progressive liberalization and the comparative advantage of the states when carrying out trade. The example of Georgia shows very well that so far the country has not been able to actively apply all the advantages that can be used within the framework of international or regional organizations, at least for the simple reason that the country does not possess the appropriate infrastructure for bringing innovative products to foreign markets, and thus accumulate more economic wealth. This case study evidences and confirms that while the accession process to the WTO is challenging per se, it is part of a process of domestic reforms that triggers growth and economic benefits.