The topic of the article ,,The Tax System of Georgia in Pandexit Period” is very important and significant, because taxes are one of the main subjects in economic relationship. Generally taxes can regulate the direction of Georgian economic and promote its rapid development. Following in the footsteps of covid pandemic, it has become necessary for the tax system to be appropriate/adequate to the new reality facing the country. From all these, lots of changes have been made and most of them are easing and loyal. Today we are in the period of the end of covid pandemic, thus it is very important to realize and summarize tax system in pandexit period. Significant measures were taken during the pandexit to increase the efficiency of tax administration. Special attention was paid to the most important taxpayers ,,large taxpayers”, who make a great contribution to the formation of the state budget. A large taxpayer office has been set up in the Revenue Service of the Ministry of Finance, Which aims to bring the interests of these types of taxpayers and the state as close as possible to each other. Special manuals has been worked out which made it easier to solve various important problematic issues. During the covid pandemic, a number of entrepreneurs have shown unscrupulous attitudes towards the automatic refund of VAT. New regulations and norms have been implemented so as to control unlawful or illegal refund of paid taxes from budget. The buyer of the goods is entitled to deduct the value added tax paid only in that case if he instead of the supplier, will pay the VAT amount to the budget. The relation between entrepreneurial entities and the state has significantly improved. The main focus was not on finding fault and appropriate sanctioning but also to inform taxpayers about their possible mistakes. In order to perfect this idea, special rules have developed, which means informing taxpayers at an early stage about specific violations and warning them. A loyal approach was formed regarding the inaccuracies allowed by the taxpayers in the declarations, there was introduced audit program of declaration which allowed tax payers to verify their data. In 2021, 15 969 declarations were examined, and the amount adjusted by the taxpayers amounted to 67 170 364 GEL. An entirely new ,,hypothetical taxation” mechanism has been developed, which aims to calculate and reflect the possible hypothetical amounts on the personal account of taxpayers. The regulation has had a positive effect on part of the budget as well as reduced the rate of non-submission of declarations by value-added taxpayers. A new debt management strategy has been developed for 2022, which aims at a loyal approach to the collection of tax debt from entrepreneurs, which involves a variety of preventive measures to reduce tax evasion, as well as improving the rate of debt repayment before the budget and reducing existing debts. The existing regulation is especially important for enterpri
{"title":"THE TAX SYSTEM OF GEORGIA IN PANDEXIT PERIOD","authors":"Lia Kheladze","doi":"10.52244/ep.2022.23.13","DOIUrl":"https://doi.org/10.52244/ep.2022.23.13","url":null,"abstract":"The topic of the article ,,The Tax System of Georgia in Pandexit Period” is very important and significant, because taxes are one of the main subjects in economic relationship. Generally taxes can regulate the direction of Georgian economic and promote its rapid development.\u0000\u0000Following in the footsteps of covid pandemic, it has become necessary for the tax system to be appropriate/adequate to the new reality facing the country. From all these, lots of changes have been made and most of them are easing and loyal. Today we are in the period of the end of covid pandemic, thus it is very important to realize and summarize tax system in pandexit period.\u0000\u0000Significant measures were taken during the pandexit to increase the efficiency of tax administration. Special attention was paid to the most important taxpayers ,,large taxpayers”, who make a great contribution to the formation of the state budget. A large taxpayer office has been set up in the Revenue Service of the Ministry of Finance, Which aims to bring the interests of these types of taxpayers and the state as close as possible to each other. Special manuals has been worked out which made it easier to solve various important problematic issues.\u0000\u0000During the covid pandemic, a number of entrepreneurs have shown unscrupulous attitudes towards the automatic refund of VAT. New regulations and norms have been implemented so as to control unlawful or illegal refund of paid taxes from budget. The buyer of the goods is entitled to deduct the value added tax paid only in that case if he instead of the supplier, will pay the VAT amount to the budget.\u0000\u0000The relation between entrepreneurial entities and the state has significantly improved. The main focus was not on finding fault and appropriate sanctioning but also to inform taxpayers about their possible mistakes. In order to perfect this idea, special rules have developed, which means informing taxpayers at an early stage about specific violations and warning them.\u0000\u0000A loyal approach was formed regarding the inaccuracies allowed by the taxpayers in the declarations, there was introduced audit program of declaration which allowed tax payers to verify their data. In 2021, 15 969 declarations were examined, and the amount adjusted by the taxpayers amounted to 67 170 364 GEL. \u0000\u0000An entirely new ,,hypothetical taxation” mechanism has been developed, which aims to calculate and reflect the possible hypothetical amounts on the personal account of taxpayers. The regulation has had a positive effect on part of the budget as well as reduced the rate of non-submission of declarations by value-added taxpayers.\u0000\u0000A new debt management strategy has been developed for 2022, which aims at a loyal approach to the collection of tax debt from entrepreneurs, which involves a variety of preventive measures to reduce tax evasion, as well as improving the rate of debt repayment before the budget and reducing existing debts. The existing regulation is especially important for enterpri","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115516864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Relevance of the study: Central banks exert their influence on the economy by changing the money supply using appropriate instruments in a free financial market. The combination of these tools gives us the operational framework of the National Bank. Aim of the research: to study the instruments (operational framework) of monetary policy regulation of Georgia, Moldova and Montenegro, to identify problems and to find ways to solve them. Research Methods: Use of comparative analysis method based on the database of the National Bank of Georgia, Geostat and the International Monetary Fund. The impact of Georgia's monetary policy regime and instruments on the country's macroeconomic indicators, such as inflation and GDP growth rates. Analysis of the macroeconomic parameters, monetary policy regime and regulatory instruments of Moldova and Montenegro. Comparative analysis of the operational framework of the monetary policy of Georgia, Moldova and Montenegro and ways to solve the identified problems. Monetary policy only changes the future outlook for inflation, and central banks respond to one-time exogenous factors when those factors are so strong that they reflect long-term inflation expectations. Therefore, further tightening of monetary policy (already tightened) will lead to a slowdown in GDP growth and unemployment. According to current forecasts, the inflation rate in 2022 will remain high. Given that the role of temporary and exogenous factors in inflation remains to be determined, while monetary policy is still in a tightening phase, the National Bank has decided to maintain the current level of interest rates. However, in the face of strong supply shocks, the threat of further growth in inflation is still relevant. Against the background of these inflationary risks, a tightening of monetary policy or an increase in interest rates is probably still expected.
{"title":"COMPARATIVE ANALYSIS OF MONETARY POLICY OF EASTERN EUROPEAN COUNTRIES AND GEORGIA","authors":"Tsitsino Dzotsenidze","doi":"10.52244/ep.2022.23.16","DOIUrl":"https://doi.org/10.52244/ep.2022.23.16","url":null,"abstract":"Relevance of the study: Central banks exert their influence on the economy by changing the money supply using appropriate instruments in a free financial market. The combination of these tools gives us the operational framework of the National Bank.\u0000\u0000Aim of the research: to study the instruments (operational framework) of monetary policy regulation of Georgia, Moldova and Montenegro, to identify problems and to find ways to solve them.\u0000\u0000Research Methods: Use of comparative analysis method based on the database of the National Bank of Georgia, Geostat and the International Monetary Fund.\u0000\u0000The impact of Georgia's monetary policy regime and instruments on the country's macroeconomic indicators, such as inflation and GDP growth rates.\u0000Analysis of the macroeconomic parameters, monetary policy regime and regulatory instruments of Moldova and Montenegro.\u0000Comparative analysis of the operational framework of the monetary policy of Georgia, Moldova and Montenegro and ways to solve the identified problems.\u0000Monetary policy only changes the future outlook for inflation, and central banks respond to one-time exogenous factors when those factors are so strong that they reflect long-term inflation expectations. Therefore, further tightening of monetary policy (already tightened) will lead to a slowdown in GDP growth and unemployment. According to current forecasts, the inflation rate in 2022 will remain high.\u0000\u0000Given that the role of temporary and exogenous factors in inflation remains to be determined, while monetary policy is still in a tightening phase, the National Bank has decided to maintain the current level of interest rates. However, in the face of strong supply shocks, the threat of further growth in inflation is still relevant. Against the background of these inflationary risks, a tightening of monetary policy or an increase in interest rates is probably still expected.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129086174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A global threat to food supplies has emerged in the wake of the Russia-Ukraine war. A number of developing countries are already pointing to shortages of basic consumer goods such as wheat, corn, buckwheat, sunflower. Food supply risks are significantly linked to and exacerbate global inflation, which began in the second half of 2021 amid a pandemic and is already approaching double-digit levels even in developed economies. Annual growth in consumer price indices last month was 8% in the US, the Eurozone, the UK and other developed economies, and as output price indices range in the 10-20% range, inflation is not expected to slow in the near future. This phenomenon is known as supply-side inflation and poses an additional challenge not only to economic policy makers, but also primarily to producers and consumers. The developments due to the Russia-Ukraine war and the sanctioning of Russia have significantly increased the demand for the Georgian corridor, which is both an opportunity and a challenge. Amid rising inflation risks, monetary policy is in a tightened phase as a result of the gradual increase in the monetary policy rate over the past year. The National Bank of Georgia is expected to tighten monetary policy until the risks to rising inflation expectations are sufficiently mitigated. The double-digit economic growth achieved by Georgia recently is significant. In the first quarter of this year, Georgia's economic growth amounted to 14.4%. Our country has dealt with the challenges with dignity, has maintained the stability and development of the economy in the light of current events in the world. It is noteworthy that according to the International Monetary Fund, the Ukrainian economy is expected to shrink by 44% and the Russian economy by 13%. In our neighboring countries, the economic growth rate is a single digit. The data against the background of those hostilities unequivocally confirm, on the one hand, the resilience of the Georgian economy to the increased negative exogenous political and economic factors, on the other hand, the growing diversification of the national economy and the more active involvement of Georgian business in the global economy. Russia's aggression against Ukraine and the start of hostilities in the region have a significant impact on the Georgian economy. Increased inflation and inflationary risks remain a recent global challenge. While 2022 was considered a period of global inflation, Russia's war against Ukraine posed new risks, in particular sanctions against Russia over hostilities and restrictions on supplies, which significantly increased the prices of certain categories of goods on world markets. Consequently, in both developed and emerging economies, inflation has risen significantly. After the battles that have developed in neighboring countries, there is a possibility of attracting 16-20 million tons of cargo, and if Georgia is able to absorb at least 60%, the country will transit 10-12 millio
俄乌战争爆发后，全球粮食供应面临威胁。一些发展中国家已经指出了小麦、玉米、荞麦、向日葵等基本消费品的短缺。粮食供应风险与全球通胀密切相关，并加剧了全球通胀。全球通胀始于2021年下半年，当时正值一场大流行，即使在发达经济体，通胀水平也已接近两位数。上个月，美国、欧元区、英国和其他发达经济体的消费者价格指数年增长率为8%，由于产出价格指数在10-20%的范围内波动，预计通胀在近期内不会放缓。这种现象被称为供给侧通胀，它不仅给经济决策者带来了额外的挑战，而且主要是给生产者和消费者带来了挑战。俄乌战争和对俄制裁导致的事态发展大大增加了对格鲁吉亚走廊的需求，这既是机遇也是挑战。在通胀风险上升的情况下，由于过去一年货币政策利率逐步上调，货币政策处于紧缩阶段。预计格鲁吉亚国家银行(National Bank of Georgia)将收紧货币政策，直到通胀预期上升的风险得到充分缓解。格鲁吉亚最近取得的两位数的经济增长是显著的。今年第一季度，格鲁吉亚的经济增长率达到14.4%。我们的国家有尊严地应对了挑战，在当前国际形势下保持了经济的稳定和发展。值得注意的是，根据国际货币基金组织的数据，乌克兰经济预计将萎缩44%，俄罗斯经济预计将萎缩13%。在我们的邻国，经济增长率是个位数。这些敌对行动背景下的数据一方面明确证实了格鲁吉亚经济对日益增加的外部负面政治和经济因素的复原力，另一方面证实了国民经济日益多样化和格鲁吉亚企业更积极地参与全球经济。俄罗斯对乌克兰的侵略和该地区敌对行动的开始对格鲁吉亚的经济产生了重大影响。通胀加剧和通胀风险仍是近期全球面临的挑战。虽然2022年被认为是全球通货膨胀的时期，但俄罗斯对乌克兰的战争带来了新的风险，特别是对俄罗斯的敌对行动和供应限制的制裁，这大大提高了世界市场上某些类别商品的价格。因此，无论是在发达经济体还是在新兴经济体，通胀都显著上升。在邻国爆发战争后，有可能吸引1600万至2000万吨货物，如果格鲁吉亚能够吸收至少60%的货物，该国将过境1000万至1200万吨货物。这方面的一个例子是哈萨克斯坦，它开发了替代路线，根据这些路线，可以最大限度地装载巴库-第比利斯-杰伊汉管道。为了进一步普及格鲁吉亚的运输走廊，有必要使公共部门和私营部门的工作更加协调。根据该地区的情况，我们可以预测货物周转量将大幅增加。因此，经济和可持续发展部与海运局、公路部、“格鲁吉亚铁路”联合公司需要进一步普及格鲁吉亚走廊和发展基础设施，以确保货物的及时和安全运输;甚至在俄乌战争之前，世界各地的通货膨胀就在上升。供给——需求不匹配、商品(燃料和食品)价格上涨刺激了2021年初以来通胀的增长。这就是为什么格鲁吉亚中央银行现在应该更加警惕，因为长期的高通货膨胀可能带来相当高的成本，因此货币当局可能不得不作出更强烈的反应;该国有必要加快与欧洲联盟的一体化，并采取有效步骤改善投资环境，以应对社会经济挑战。重要的是建立对与侵略国有关的资本自由流动的严格监测，并对现有的威胁作出适当的限制。格鲁吉亚国家银行应持续监测当前的经济进程和金融市场，并使用其掌握的所有工具来确保价格稳定;尽管俄罗斯-乌克兰战争，格鲁吉亚的金融部门必须保持弹性，并充分应对这一挑战。
{"title":"THE IMPACT OF THE RUSSIA-UKRAINE WAR ON GEORGIA'S ECONOMIC ACTIVITY","authors":"David Bidzinashvili","doi":"10.52244/ep.2022.23.14","DOIUrl":"https://doi.org/10.52244/ep.2022.23.14","url":null,"abstract":"A global threat to food supplies has emerged in the wake of the Russia-Ukraine war. A number of developing countries are already pointing to shortages of basic consumer goods such as wheat, corn, buckwheat, sunflower. Food supply risks are significantly linked to and exacerbate global inflation, which began in the second half of 2021 amid a pandemic and is already approaching double-digit levels even in developed economies. Annual growth in consumer price indices last month was 8% in the US, the Eurozone, the UK and other developed economies, and as output price indices range in the 10-20% range, inflation is not expected to slow in the near future.\u0000\u0000This phenomenon is known as supply-side inflation and poses an additional challenge not only to economic policy makers, but also primarily to producers and consumers. The developments due to the Russia-Ukraine war and the sanctioning of Russia have significantly increased the demand for the Georgian corridor, which is both an opportunity and a challenge.\u0000\u0000Amid rising inflation risks, monetary policy is in a tightened phase as a result of the gradual increase in the monetary policy rate over the past year. The National Bank of Georgia is expected to tighten monetary policy until the risks to rising inflation expectations are sufficiently mitigated.\u0000\u0000The double-digit economic growth achieved by Georgia recently is significant. In the first quarter of this year, Georgia's economic growth amounted to 14.4%. Our country has dealt with the challenges with dignity, has maintained the stability and development of the economy in the light of current events in the world. It is noteworthy that according to the International Monetary Fund, the Ukrainian economy is expected to shrink by 44% and the Russian economy by 13%. In our neighboring countries, the economic growth rate is a single digit.\u0000\u0000The data against the background of those hostilities unequivocally confirm, on the one hand, the resilience of the Georgian economy to the increased negative exogenous political and economic factors, on the other hand, the growing diversification of the national economy and the more active involvement of Georgian business in the global economy.\u0000\u0000Russia's aggression against Ukraine and the start of hostilities in the region have a significant impact on the Georgian economy. Increased inflation and inflationary risks remain a recent global challenge. While 2022 was considered a period of global inflation, Russia's war against Ukraine posed new risks, in particular sanctions against Russia over hostilities and restrictions on supplies, which significantly increased the prices of certain categories of goods on world markets. Consequently, in both developed and emerging economies, inflation has risen significantly.\u0000\u0000After the battles that have developed in neighboring countries, there is a possibility of attracting 16-20 million tons of cargo, and if Georgia is able to absorb at least 60%, the country will transit 10-12 millio","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114129412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An aim of the paper is to explore the outlines of the looming monetary order. For these purposes, we have made a brief retrospective analysis of money genesis. In its inception market had selected gold as a medium of exchange and gold had become a social institution. After WWII the leading force of monetary order changed. The Bretton Woods conference had made a political agreement to endorse the US dollar as a reserve currency. In 1971 the picture had become clearer, and the gold-backed dollar system collapsed as it was predicted earlier. A digital environment has given the reborn of new types of money. The pioneer of digital money was the crypto currency, a decentralized and transparent system to pay and hold the value. As the old saying tells, everything new is well forgotten old one. Since 2021 central Bank of China has launched a digital RMB pilot program. It is easy to grasp that the state tries to substitute the market-developed money (crypto currencies) with the monopolistic system of CBDC. We have found out the effects of CBDC on retail banking and the incapability of CBDC monetary order with fractional reserve banking.
{"title":"CENTRAL BANK DIGITAL CURRENCY EFFECTS ON FRACTIONAL RESERVE BANKING","authors":"Mirza Khidasheli","doi":"10.52244/ep.2022.23.06","DOIUrl":"https://doi.org/10.52244/ep.2022.23.06","url":null,"abstract":"An aim of the paper is to explore the outlines of the looming monetary order. For these purposes, we have made a brief retrospective analysis of money genesis. In its inception market had selected gold as a medium of exchange and gold had become a social institution. After WWII the leading force of monetary order changed. The Bretton Woods conference had made a political agreement to endorse the US dollar as a reserve currency. In 1971 the picture had become clearer, and the gold-backed dollar system collapsed as it was predicted earlier. A digital environment has given the reborn of new types of money. The pioneer of digital money was the crypto currency, a decentralized and transparent system to pay and hold the value. As the old saying tells, everything new is well forgotten old one. Since 2021 central Bank of China has launched a digital RMB pilot program. It is easy to grasp that the state tries to substitute the market-developed money (crypto currencies) with the monopolistic system of CBDC. We have found out the effects of CBDC on retail banking and the incapability of CBDC monetary order with fractional reserve banking.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"18 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114030229","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Artificial intelligence methods and technologies are increasingly included in human's everyday life. Managing actors in the context of their activities, from the planning stage to the decision-making stage, are faced with the need to operate with big data, non-linear, exponentially growing, critically overloaded data scenarios. In these conditions, the need to introduce artificial intelligence technologies is due to the exhaustion of the intellectual and analytical capabilities of a person. The article discusses a variety of methods and approaches of artificial intelligence, examines the content of key algorithms, models and theories, their strengths and weaknesses in such important areas of the economy as planning and decision-making. The focus is on their classification. Due to the dependence of the planning process on environmental factors, both classical and non-classical planning environments are discussed. If the environment is fully observable, deterministic and static (external changes are ignored) and discrete in terms of time and action, then we are dealing with a classical planning environment. In the case of a partially observable or stochastic environment, we get a non-classical planning environment. The simplest and most intuitive approach to the planning process algorithms is a Total Order Planning. A scheduling algorithm with parallel execution of actions or without specifying the sequence of their execution is a Partial Order Planning algorithm. Recent research into the development of efficient algorithms has sparked interest in one of the earliest planning approaches – Prepositional Logic Planning. With the Critical Path Method, a schedule of activities is drawn up as part of a plan with zero critical travel time margin for each activity, taking into account the calculation of the time margin for each activity and sequence of activities. A forward-looking planning method for solving complex problems is a hierarchical decomposition based on a Hierarchical Task Networks. The influence of time and resource factors on planning procedures is separately highlighted. Approaches and methods used in a non-classical planning environment: compatible planning, conditional planning, continuous planning, multi-agent planning. Special attention is paid to the issues of constructing planning models in conditions of uncertainty based on the theoretical-probabilistic (stochastic) approaches. Bayesian networks are used to represent vagueness. The Relational Probability Model includes certain constraints on the presentation means, thereby guaranteeing a fully defined probability distributions. The main tasks of probabilistic representation in temporal models are: filtering, forecasting, smoothing, determining a probabilistic explanation. By combining these algorithms and additional enhancements, three large blocks of temporal models can be obtained: Hidden Markov Models, Kalman Filter, and Dynamic Bayesian Network. Decision theory allows the agent
{"title":"REVIEW OF THEORETICAL APPROACHES TO USING OF ARTIFICIAL INTELLIGENCE FOR PLANNING PROBLEMS IN ECONOMICS","authors":"Gocha Ugulava","doi":"10.52244/ep.2021.22.11","DOIUrl":"https://doi.org/10.52244/ep.2021.22.11","url":null,"abstract":"Artificial intelligence methods and technologies are increasingly included in human's everyday life. Managing actors in the context of their activities, from the planning stage to the decision-making stage, are faced with the need to operate with big data, non-linear, exponentially growing, critically overloaded data scenarios. In these conditions, the need to introduce artificial intelligence technologies is due to the exhaustion of the intellectual and analytical capabilities of a person.\u0000The article discusses a variety of methods and approaches of artificial intelligence, examines the content of key algorithms, models and theories, their strengths and weaknesses in such important areas of the economy as planning and decision-making. The focus is on their classification. Due to the dependence of the planning process on environmental factors, both classical and non-classical planning environments are discussed. If the environment is fully observable, deterministic and static (external changes are ignored) and discrete in terms of time and action, then we are dealing with a classical planning environment. In the case of a partially observable or stochastic environment, we get a non-classical planning environment. The simplest and most intuitive approach to the planning process algorithms is a Total Order Planning. A scheduling algorithm with parallel execution of actions or without specifying the sequence of their execution is a Partial Order Planning algorithm. Recent research into the development of efficient algorithms has sparked interest in one of the earliest planning approaches – Prepositional Logic Planning. With the Critical Path Method, a schedule of activities is drawn up as part of a plan with zero critical travel time margin for each activity, taking into account the calculation of the time margin for each activity and sequence of activities. A forward-looking planning method for solving complex problems is a hierarchical decomposition based on a Hierarchical Task Networks.\u0000 The influence of time and resource factors on planning procedures is separately highlighted. Approaches and methods used in a non-classical planning environment: compatible planning, conditional planning, continuous planning, multi-agent planning.\u0000Special attention is paid to the issues of constructing planning models in conditions of uncertainty based on the theoretical-probabilistic (stochastic) approaches. Bayesian networks are used to represent vagueness. The Relational Probability Model includes certain constraints on the presentation means, thereby guaranteeing a fully defined probability distributions. The main tasks of probabilistic representation in temporal models are: filtering, forecasting, smoothing, determining a probabilistic explanation. By combining these algorithms and additional enhancements, three large blocks of temporal models can be obtained: Hidden Markov Models, Kalman Filter, and Dynamic Bayesian Network. Decision theory allows the agent","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116617887","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article has been dedicated to one of the actual problems in Georgia – inflation. There is given research of the main reasons of enormously increasing prices on local Products as well as on imported products and services. Among the existing reasons the main reasons are of local originality. For example: overloaded monetary circulation caused by the National Bank’s incorrect monetary and credit politics, monopoly-oligopoly in bank sphere, falling of local production rate caused by pandemic, etc. Some of the reasons are imported, such as increased prices on fuel and on imported products from partner countries, etc. In the article it has been introduced those main branches of national economy, where prices have been tremendously increased. Besides, it should be mentioned imported fuel and food products, transport expenses, medical service, etc. The main aim of the research is to find the ways and methods to overcome inflation crisis. To our knowledge, in order to overcome this problem is development of monetary and credit according to monetarists’ theory which is approved in many countries such as Poland, Estonia, etc. in order to regulate inflation the state should carry out the following measures: growth of local production rate, growth of local products, discharging of monetary circulation from extra money and strict control over these processes, creating competitive environment in bank sector, etc. The mechanism of state intervention in the economy consists of a whole chain of causes and effects. It is headed by the money supply, hence the increase in the money supply, and at the bottom - the state of the economic situation. The monetarist concept of the transmission mechanism is based on the principle that the economic object must act in such a way as to bring as much profit as possible. To do this, it must try to perfect the structure of the asset portfolio and make it one in which it will generate more revenue. The concept of an asset portfolio includes not only cash and securities, but also fixed assets presented in various forms. Portfolios are balanced when the profitability of the marginal units of each type of asset is equal / balanced. The result is that there is no need to redistribute interchangeable assets. This balance is broken by the supply of extra money. The source of its growth may be open market operations, ie the purchase of government bonds by the central bank, for example. After selling the securities, the farms own much more money than they had before.
{"title":"THE ROLE OF THE STATE IN REGULATING INFLATION PROCESS - MONETARIST CONTEXT","authors":"Lia Pitiurishvili","doi":"10.52244/ep.2021.22.08","DOIUrl":"https://doi.org/10.52244/ep.2021.22.08","url":null,"abstract":"The article has been dedicated to one of the actual problems in Georgia – inflation. There is given research of the main reasons of enormously increasing prices on local Products as well as on imported products and services. Among the existing reasons the main reasons are of local originality. For example: overloaded monetary circulation caused by the National Bank’s incorrect monetary and credit politics, monopoly-oligopoly in bank sphere, falling of local production rate caused by pandemic, etc.\u0000 Some of the reasons are imported, such as increased prices on fuel and on imported products from partner countries, etc. In the article it has been introduced those main branches of national economy, where prices have been tremendously increased. Besides, it should be mentioned imported fuel and food products, transport expenses, medical service, etc. The main aim of the research is to find the ways and methods to overcome inflation crisis.\u0000 To our knowledge, in order to overcome this problem is development of monetary and credit according to monetarists’ theory which is approved in many countries such as Poland, Estonia, etc. in order to regulate inflation the state should carry out the following measures: growth of local production rate, growth of local products, discharging of monetary circulation from extra money and strict control over these processes, creating competitive environment in bank sector, etc.\u0000The mechanism of state intervention in the economy consists of a whole chain of causes and effects. It is headed by the money supply, hence the increase in the money supply, and at the bottom - the state of the economic situation. The monetarist concept of the transmission mechanism is based on the principle that the economic object must act in such a way as to bring as much profit as possible. To do this, it must try to perfect the structure of the asset portfolio and make it one in which it will generate more revenue. The concept of an asset portfolio includes not only cash and securities, but also fixed assets presented in various forms. Portfolios are balanced when the profitability of the marginal units of each type of asset is equal / balanced. The result is that there is no need to redistribute interchangeable assets. This balance is broken by the supply of extra money. The source of its growth may be open market operations, ie the purchase of government bonds by the central bank, for example. After selling the securities, the farms own much more money than they had before.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"126 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131736431","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Competition over the use of water resources is growing worldwide and causes a lot of conflict between countries or regions. But hydro political issues and their implications for trans boundary and regional conflicts, which affect water distribution, are undervalued. The main causes of conflicts in this direction are presented in the context of water scarcity. However, water scarcity does not necessarily lead to trans boundary water conflicts; Instead, the main reason may be a geo-economics factor such as power asymmetry. The article presents water resources as an element of geo-economics and a tool in the context of strengthening the power of countries and describes the nature of water conflict and cooperation. The article also discusses how “water conflicts” can be resolved and outlines future directions that can be taken to resolve trans boundary water conflicts.
{"title":"WATER RESOURCES AS A GEO-ECONOMIC TOOL FOR STRENGTHENING THE ECONOMIC POWER OF STATES","authors":"Otar Tukvadze, Ana Guchua","doi":"10.52244/ep.2021.22.09","DOIUrl":"https://doi.org/10.52244/ep.2021.22.09","url":null,"abstract":"Competition over the use of water resources is growing worldwide and causes a lot of conflict between countries or regions. But hydro political issues and their implications for trans boundary and regional conflicts, which affect water distribution, are undervalued. The main causes of conflicts in this direction are presented in the context of water scarcity. However, water scarcity does not necessarily lead to trans boundary water conflicts; Instead, the main reason may be a geo-economics factor such as power asymmetry. The article presents water resources as an element of geo-economics and a tool in the context of strengthening the power of countries and describes the nature of water conflict and cooperation. The article also discusses how “water conflicts” can be resolved and outlines future directions that can be taken to resolve trans boundary water conflicts.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121979020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There could be no progress Georgia without strengthening the vitality of rural areas and agriculture. Strength of rural community depends on developing and pursuing sound public policies. In the thirty-year history of Georgia's independence, there have been made numerous attempts to pursue regional policies aimed at improving the well-being of rural people. Time has shown that each strategy or program designed for this purpose has always been unsystematic and fragmented. As a result, we obtained an almost irreversible process of rural exodus in Georgia, especially in the highland border sector. These areas of Georgia require highly specific approaches. Local Georgians closest to the origins of Georgian civilization still keep in their daily lives the customs that have existed continuously for many centuries (community-based use and enjoyment of land, partnership, community). The goal of the public support programs designed for them is to create conditions that will naturally encourage people to be there on a permanent-type basis. We consider it expedient to create special economic entities in the higher altitude regions of the country, to which the revenues generated from pasture lands and forest funds will accumulate. Within the mentioned economic entities, agricultural production should be developed on a cooperative basis, by organizing a single production cycle within cooperatives (production, processing and marketing of primary products). The owners of these types of economic entities can only be people permanently residing in a certain territory. The revenues from leasing or other agricultural activities can only be spent based on democratic decisions for general purposes to improve the living conditions. Such purposes may include education, healthcare, infrastructure, transport, etc., which will be pre-determined by the Government of Georgia. When specifying the optimal form of local territorial extent of agricultural cooperatives, priority is given to community-based cooperatives. They will be formed within the administrative units, taking into account the factors of production specialization and concentration of the productive forces. Community-based cooperatives contribute to creating conditions for mass community engagement in the cooperative process, where economies of scale can be used and population’s ability and material resources can be capitalized on the ground, which is of particular importance for inclusive (comprehensive) entrepreneurship development. There are unique opportunities for organic production in the mountains of Georgia. The basis for the rational use of natural pasture lands in all vertical zones is the introduction of a system of plot-rotational or similar cattle grazing. Increasing the production of all types of food (green, juicy, coarse) on natural pasture lands, improving their quality and reducing the cost is the main basis for livestock development, because 65-75% of the cost of livestock products is rel
{"title":"COMMUNITY-BASED COOPERATION AS AN EFFECTIVE MECHANISM OF THE RECOVERY OF THE HIGLANDS IN GEORGIA","authors":"P. Koguashvili, N. Chikhladze","doi":"10.52244/ep.2021.22.07","DOIUrl":"https://doi.org/10.52244/ep.2021.22.07","url":null,"abstract":"There could be no progress Georgia without strengthening the vitality of rural areas and agriculture. Strength of rural community depends on developing and pursuing sound public policies.\u0000In the thirty-year history of Georgia's independence, there have been made numerous attempts to pursue regional policies aimed at improving the well-being of rural people. Time has shown that each strategy or program designed for this purpose has always been unsystematic and fragmented. As a result, we obtained an almost irreversible process of rural exodus in Georgia, especially in the highland border sector. \u0000These areas of Georgia require highly specific approaches. Local Georgians closest to the origins of Georgian civilization still keep in their daily lives the customs that have existed continuously for many centuries (community-based use and enjoyment of land, partnership, community). The goal of the public support programs designed for them is to create conditions that will naturally encourage people to be there on a permanent-type basis. \u0000We consider it expedient to create special economic entities in the higher altitude regions of the country, to which the revenues generated from pasture lands and forest funds will accumulate. Within the mentioned economic entities, agricultural production should be developed on a cooperative basis, by organizing a single production cycle within cooperatives (production, processing and marketing of primary products).\u0000The owners of these types of economic entities can only be people permanently residing in a certain territory. The revenues from leasing or other agricultural activities can only be spent based on democratic decisions for general purposes to improve the living conditions. Such purposes may include education, healthcare, infrastructure, transport, etc., which will be pre-determined by the Government of Georgia.\u0000When specifying the optimal form of local territorial extent of agricultural cooperatives, priority is given to community-based cooperatives. They will be formed within the administrative units, taking into account the factors of production specialization and concentration of the productive forces. Community-based cooperatives contribute to creating conditions for mass community engagement in the cooperative process, where economies of scale can be used and population’s ability and material resources can be capitalized on the ground, which is of particular importance for inclusive (comprehensive) entrepreneurship development. \u0000 There are unique opportunities for organic production in the mountains of Georgia. The basis for the rational use of natural pasture lands in all vertical zones is the introduction of a system of plot-rotational or similar cattle grazing. Increasing the production of all types of food (green, juicy, coarse) on natural pasture lands, improving their quality and reducing the cost is the main basis for livestock development, because 65-75% of the cost of livestock products is rel","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116589127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article reviews renewable energies, in particular possibilities of using solar energy, what problems can be solved in the future run for Georgia, the advantages of solar panels and processes related with, challenges and approaches of green energy, gradually getting closer to modern technologies, meant artificial intelligent-based solutions.
{"title":"RENEWABLE ENERGY, ECONOMIC CHALLENGES AND THE ROLE OF ARTIFICIAL INTELLIGENCE","authors":"Maia Melikidze, Mariam Matiashvili","doi":"10.52244/ep.2021.22.12","DOIUrl":"https://doi.org/10.52244/ep.2021.22.12","url":null,"abstract":"The article reviews renewable energies, in particular possibilities of using solar energy, what problems can be solved in the future run for Georgia, the advantages of solar panels and processes related with, challenges and approaches of green energy, gradually getting closer to modern technologies, meant artificial intelligent-based solutions.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"AES-2 6","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114123417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Genadi Iashvili, Tinatin Iashvili, B. Sherazadishvili
Since December 31 2019, the disease caused by the new coronavirus (SARS-CoV-2) (COVID-19) has spread rapidly around the world since the first cases of the virus were reported in Wuhan City, Hubei Province, People's Republic of China. Since the outbreak of the pandemic, the Georgian government has taken steps to prevent the spread of the virus and to meet high standards of economic security, while reducing the negative impact of the virus and supporting the private sector and citizens. The current situation has affected both a large part of the country's citizens and companies. A balance needs to be struck between ensuring people’s lives and health and reducing the negative impact on the economy. It is noteworthy that the state has taken and continues to take measures to alleviate the negative processes caused by the pandemic, even in the face of constraints. It is especially important to cover as many people and businesses as possible with the limited resources. The issue of introduction of electronic technologies in public administration has become particularly relevant. "E-Government" allows citizens to receive a variety of services they need without leaving home (for example, the activities of the Service Agency in the field of public service delivery). It should be noted that the rapid development of information technology in public administration is an important factor in our time, especially under the influence of the coronavirus. The first twenty years of the XXI century are a period of radical transformation in the world, and the Coronavirus (COVID-19) pandemic has further accelerated change in many directions. Traditional views on economic, political and cultural values have changed. The rapid development of information technologies in connection with the globalization of the world economy has become a kind of catalyst for these changes. Currently, a new "e-government", "electronic technologies" is being laid in the world. The development of information technology has made possible the fundamental changes in the technology of production of commercial operations established over the centuries. In this regard, the "e-government" is noteworthy, which leads to changes in the development of the country's social Field. This involves a number of measures. Its main goals are to create technological guidelines for the formation of civil society, as well as to introduce and disseminate information technologies to increase the efficiency of public administration. The crisis caused by the new coronavirus (COVID-19) since 2020 has posed new challenges to Georgia as well as the rest of the world. The pandemic has affected all areas of public life. Therefore, the main goal for the construction of a developed European state at this stage was to overcome the pandemic crisis, rapid economic recovery and development, to create a stable and secure environment for every citizen. Public confidence in the political system increases the legitimacy of governme
{"title":"CHALLENGES OF PUBLIC ADMINISTRATION IN TERMS OF SPREAD CORONAVIRUS","authors":"Genadi Iashvili, Tinatin Iashvili, B. Sherazadishvili","doi":"10.52244/ep.2021.22.04","DOIUrl":"https://doi.org/10.52244/ep.2021.22.04","url":null,"abstract":"Since December 31 2019, the disease caused by the new coronavirus (SARS-CoV-2) (COVID-19) has spread rapidly around the world since the first cases of the virus were reported in Wuhan City, Hubei Province, People's Republic of China. Since the outbreak of the pandemic, the Georgian government has taken steps to prevent the spread of the virus and to meet high standards of economic security, while reducing the negative impact of the virus and supporting the private sector and citizens. The current situation has affected both a large part of the country's citizens and companies. \u0000A balance needs to be struck between ensuring people’s lives and health and reducing the negative impact on the economy. It is noteworthy that the state has taken and continues to take measures to alleviate the negative processes caused by the pandemic, even in the face of constraints. It is especially important to cover as many people and businesses as possible with the limited resources.\u0000The issue of introduction of electronic technologies in public administration has become particularly relevant. \"E-Government\" allows citizens to receive a variety of services they need without leaving home (for example, the activities of the Service Agency in the field of public service delivery). It should be noted that the rapid development of information technology in public administration is an important factor in our time, especially under the influence of the coronavirus.\u0000The first twenty years of the XXI century are a period of radical transformation in the world, and the Coronavirus (COVID-19) pandemic has further accelerated change in many directions. Traditional views on economic, political and cultural values have changed. The rapid development of information technologies in connection with the globalization of the world economy has become a kind of catalyst for these changes.\u0000Currently, a new \"e-government\", \"electronic technologies\" is being laid in the world. The development of information technology has made possible the fundamental changes in the technology of production of commercial operations established over the centuries. In this regard, the \"e-government\" is noteworthy, which leads to changes in the development of the country's social Field. This involves a number of measures. Its main goals are to create technological guidelines for the formation of civil society, as well as to introduce and disseminate information technologies to increase the efficiency of public administration.\u0000The crisis caused by the new coronavirus (COVID-19) since 2020 has posed new challenges to Georgia as well as the rest of the world. The pandemic has affected all areas of public life. Therefore, the main goal for the construction of a developed European state at this stage was to overcome the pandemic crisis, rapid economic recovery and development, to create a stable and secure environment for every citizen. \u0000Public confidence in the political system increases the legitimacy of governme","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127291279","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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