Journal number 1 ∘ Emir Eteria ∘

EU-Georgia Economic Relations during 2014-2023: From Association to Candidacy

10.36172/EKONOMISTI.2024.XX.01.Emir.Eteria Expanded Summary On December 14, 2023, according to the conclusions of the European Council, Georgia was granted EU candidate status, which marks the beginning of a new phase in EU-Georgia relations. Therefore, it is important to analyze and assess the economic relations from the moment of signing the EU-Georgia Association Agreement (2014) until Georgia was granted candidate status. It is obvious that the Association Agreement, including the Deep and Comprehensive Free Trade Agreement (DCFTA), represents an important mechanism for intensifying Georgia's economic relations with the EU and, consequently, increasing the degree of Georgia's economic integration with the EU. Any country, including Georgia, enters the process of regional economic integration to increase trade, especially exports, to attract Foreign Direct Investment (FDI) and to support economic growth and development in general. These are the economic determinants of economic in

Journal number 1 ∘ Givi Bedianashvili ∘ Zviad Gabroshvili ∘

Blockchain technologies for managing public debt

10.36172/EKONOMISTI.2024.XX.01.Givi.Bedianashvili/Zviad.Gabroshvili Annotation. The study presents the application of blockchain technologies in the direction of public debt management. Existing models for debt management are mentioned, such as the debt, investment, growth model and the debt, investment, growth and natural resources model. An important component for achieving sustainability, the use of blockchain technology for increasing the efficiency of state investments, which implies the transparency of investments, is presented. The study showed how the government should use blockchain technology to make investments more efficient and transparent, which could reduce the likelihood of an explosive debt problem. The paper also discusses how the state can find resources through blockchain technology and, in certain cases, reduce the public debt based on the emergence of new reserves. The risks of using this technology are also shown, which can cause significant problems in the dire

Journal number 1 ∘ Zurab Garakanidze ∘

The so-called half-sanctions’ role in Central Europe’s gas supply monopolization

10.36172/EKONOMISTI.2024.XX.01.Zurab.Garakanidze Expanded Summary The article discusses the facts of the energy conflict between the Russian Federation and the European Union, and proposals by which Georgia, as a candidate country, can respond to the energy security challenges of the European Union. For example, from April 27, 2022, Gazprom completely stopped supplying gas to Bulgargaz, due to the latter's refusal to pay in Russian rubles. In response, in June 2022, the trial delivery of Azerbaijani gas to Bulgaria through the "South Caucasian Gas Pipeline" in the "Southern Gas Corridor" through Georgia began. Through the “Trans-Adriatic Gas Pipeline” (TAP) Bulgaria-Greece Interconnector - IGB, located in the same "Corridor" of the European Union, which will be 3 billion cubic meters by the end of 2024. Southeastern European countries - Italy and Greece, and later Bulgaria - have receive gas from Azerbaijan through the "Southern Gas Corridor of the European Union"

Journal number 1 ∘ Zurab Tsereteli ∘

PROBLEMS OF ECONOMIC SECURITY OF THE ENTERPRISE AND WAYS TO OVERCOME THEM

10.36172/EKONOMISTI.2024.XX.01.Zurab.Tsereteli Annotation. The paper examines problems of economic security of the enterprise and ways to overcom them, as a result of improvement the economic indicators of the enterprise are achieved. Keywords: economic security, economic security of the enterprise, economic efficiency of the enterprise. Introduction Nowadays, economic security has a great international recognition. It is an important condition for better existence and development a mindful society in the whole world. Economic security is understood as a field of scientific knowledge in which the role of economy is considered, that ensures a high and stable growth of the main economic indicators. A special attention is paid to the economic security and threats. This is due to the current conditions in the world. The enterprises are forced to operate with different levels of risk and also the arising of various destabilizing factors. Problems of economic security are always r

Journal number 1 ∘ Shota Abzianidze ∘ Tengiz Verulava ∘

Use of cannabinoids, hallucinogens and stimulants among young people in Georgia

10.36172/EKONOMISTI.2024.XX.01.Shota.Abzianidze/Tengiz.Verulava Resumme Introduction: The growing trends in drug use and the complexity of control mechanisms represent a significant challenge in public health, both nationally and globally. Young people are especially vulnerable in this regard. Premature use of drugs has a significant impact on adolescent and youth development. In the last decade, the so-called Club drug use has been rampant among young people, and cannabinoids remain the most widely used drug on the global scene. In Georgia, the events that have developed in recent years, which are changes in the legal framework and the liberalization of the state's position on narcotic drugs, in particular cannabinoids, have changed the situation in terms of the use of narcotic drugs. Very few studies are available to assess how much the situation has changed before and after the legislative changes. It is the lack of relevant information and scientific studies that became the main

Journal number 1 ∘ Lela Menabdishvili ∘ Nana Menabdishvili ∘ Nino Gomelauri ∘

TRANSFORMATION OF SOCIO-DEMOGRAPHIC BEHAVIOR IN THE GEORGIAN FAMILY

10.36172/EKONOMISTI.2024.XX.01.Lela.Menabdishvili/Nana.Menabdishvili/Nino.Gomelauri Annotation. The fact that our population is gradually declining and that the Georgian nation is one of the dying nations is both significant and tragic for the future of the country. Against this background, it is undoubtedly timely to study and research the causes that have brought the country to this state. The following article deals with the consequences of the transformation of socio-demographic behaviour that the family is undergoing. It focuses on the period of the new century (2001-2022). The aim of the article is to show how the transformation of the socio-demographic behaviour taking place within the Georgian family has changed the demographic picture of the country and to highlight the serious character of the demographic situation existing at the present stage. The relevance of the article lies in the analysis of issues related to fertility, reproductive behaviour of families in diffe

Journal number 1 ∘ Tea Munjishvili ∘

The Development of a machine learning software system for predicting business financial results[1]

10.36172/EKONOMISTI.2024.XX.01.Tea.Munjishvili Expanded Summary In the article we research let's understand if the peculiarities of accounting and reporting in Georgia to the size categories of enterprises according and what financial forecasts can be made according to the indicators reflecting the financial condition of enterprises. Small-sized enterprises of the fourth category were selected as the objects of the study, because a large part of the enterprises operating in Georgia belong to the fourth category according to their indicators. For information, 13.12.23 According to the data, 1,675,893 individuals and 347,544 legal entities are recorded in the database of the Revenue Service. (According to the data of 2021, there are 123 enterprises of the first category, and 606 of the second category). A total of 13 enterprises were selected for the research: 6 enterprises of the 4th category, 7 enterprises of the 2nd and 3rd category. The development of the mathem

Journal number 1 ∘ Vladimer Basaria ∘

For the issue of interrelationship between education system and youth employment problems

Expanded Summary Youth is increasingly becoming the main driving force of the modern world. This is somewhat related to the growing demand for creative and communicative workers in the field of information technology in the rapidly developing digital economy. An important part of them objectively consists of young people. Therefore, it can be said that in the modern world, those (mostly developed) countries that improve and realize the human capital of young people have a certain strategic advantage. Unfortunately, in many places (including our country), youth still belong to the vulnerable category, which faces significant difficulties when looking for a job, and this is primarily related to the ineffective state employment policy, which limits the realization of the labor potential of young people, hinders the growth process of the national economy, and The level of political, social, technological or cultural competitiveness of the country as a whole decreases. I think that solvi

Journal number 1 ∘ Nino Zhorzhikashvili ∘

The influence of direct foreign investments on the economy of Georgia

10.36172/EKONOMISTI.2024.XX.01.Nino.Zhorzhikashvili Expanded Summary Foreign investments are one of the ways to achieve economic growth for the country. Foreign investment increases the stock of capital in a country, leading to higher productivity and higher levels of employment. Foreign investments also allow developing countries to learn about and use the latest technologies that are produced and used in countries with developed economies. In the modern conditions of globalization, attracting foreign direct investments is a vital necessity for Georgia, since it leads to the growth of investments in infrastructure, technologies and other important sectors, which is the main stimulator of economic growth. In addition, FDI facilitates both the creation of new businesses and the expansion of existing ones, which increases employment opportunities for the local workforce, lowers the unemployment rate, and increases household income. When we talk about the impact of d

Journal number 1 ∘ Niko Khutsishvili ∘

Economic policy that promots the implementation of innovations in Georgian Agriculture, through Industry 4.0

Annotation: The current data and challenges of agriculture in Georgia are analyzed in the article. The article also discusses innovative approaches that allow entrepreneurs to be more productive and competitive during the fourth industrial revolution. The article analyzes the existing programs in Georgia that contribute to the development of agriculture. The current data in Georgia was compared with the average data of the world. Based on these data, a regression model is built that establishes the relationship between resources spent on research and development and agricultural output. Conclusions and recommendations are made based on the research. Key words: Innovation, Agriculture, Fourth Industrial Revolution, Economic Policy Introduction Innovations are the most important factor of human development. It is a driving force of economic growth and prosperity that allows countries and entrepreneurs to create new goods, increase productivity and compete with other business ent

Journal number 1 ∘ Salome Tvalodze ∘

Analysis of Sustainable Financial Products and Sustainable Finance Market Trends in Georgia

Expanded Summary In recent years, the global financial landscape has witnessed a paradigm shift towards sustainability, driven by increasing awareness of environmental and social challenges. Within this context, sustainable finance has emerged as a critical avenue for fostering economic growth while addressing pressing environmental and social concerns. In Georgia, a country with a burgeoning economy and a growing emphasis on sustainability, the analysis of sustainable financial products and market trends holds significant importance. This paper aims to provide a comprehensive examination of sustainable financial products and sustainable finance market trends within the Georgian context. By exploring the landscape of sustainable finance in Georgia, we seek to understand the extent to which sustainable financial instruments are being utilized and their impact on the broader financial ecosystem. Furthermore, we will delve into the trends shaping the sustainable finance market in Georgi

Journal number 1 ∘ Mariam Kutateladze ∘

Factors Effecting on Quality of Hotel Service and Main Aspects of Assecment

Expanded Summary In the paper as its title indicates are investigated the factors affecting the quality of the hotel services and the main aspects of their assessment. For any company working in the hotel industry ensuring and maintenance the high quality of the hotel service is a strong lever of its well development. In addition it is closely related to the continues improvement of activities between enterprise representatives and customers. The essence of the peculiarity of hotel service in many cases is associated with its intangible ‘’perception’’ and indivisibility. When visiting a hotel, guests pay a certain amount not only for accommodation , but also for the impressions received during the provided service. Customers ‘‘’perceptions&rsquo

Journal number 1 ∘ Giorgi Tchotchua ∘

Landscape diversity of Georgia and perspectives of sustainable tourism

Expanded Summary The essay examines sustainable tourism prospects in Georgia, a country with different landscapes ranging from mountains to the sea, as well as a high variety in terms of flora and fauna. It emphasizes how these natural treasures can positively contribute to the country's long-term destiny and society. Georgia can exploit its natural beauty to achieve economic benefits while protecting its environment and cultural heritage by supporting responsible tourism practices. This method not only helps to preserve the country's beautiful landscapes, but it also improves the quality of life in local communities, promotes cultural interchange, and promotes environmental conservation. Georgia has the opportunity to develop a harmonious relationship between its natural resources, tourism sector, and the well-being of its people for years to come through a well-managed and balanced approach to tourism. The collaboration between UNESCO and the Protected Areas Development

Journal number 1 ∘ Teona Makalatia ∘

Implications of diseases on financial reporting and auditing

Expanded Summaryt In the era of global warming, the outbreaks of infectious diseases are expected to increase. The latest coronavirus pandemic, or COVID-19, showed us a lot. Regarding the health effects, national authorities and the World Health Organization (WHO) might be consulted. Significant economic repercussions of the crisis also affect firms, for example, because of travel bans or limits on trade, production, and consumption. The accounting, reporting, and auditing of the financial statements of the relevant enterprises or groups are impacted by these economic repercussions. A few of these possible ramifications are highlighted in this publication. Companies and their auditors must take into account how it affects their business and examine them frequently because the impact on businesses will vary. One cannot forecast the pandemic’s future course, duration, or effects. Regardless, auditors and accountants should remind businesses of the initiatives for relief to

EKONOMISTI The international scientific and analytical, reviewed, printing and electronic journal of Paata Gugushvili Institute of Economics of Ivane Javakhishvili Tbilisi State University

DOI: 10.36172/EKONOMISTI E ISSN 2346-8432 Print ISSN 1987-6890	Journal number 1 ∘ Emir Eteria ∘ EU-Georgia Economic Relations during 2014-2023: From Association to Candidacy 10.36172/EKONOMISTI.2024.XX.01.Emir.Eteria Expanded Summary On December 14, 2023, according to the conclusions of the European Council, Georgia was granted EU candidate status, which marks the beginning of a new phase in EU-Georgia relations. Therefore, it is important to analyze and assess the economic relations from the moment of signing the EU-Georgia Association Agreement (2014) until Georgia was granted candidate status. It is obvious that the Association Agreement, including the Deep and Comprehensive Free Trade Agreement (DCFTA), represents an important mechanism for intensifying Georgia's economic relations with the EU and, consequently, increasing the degree of Georgia's economic integration with the EU. Any country, including Georgia, enters the process of regional economic integration to increase trade, especially exports, to attract Foreign Direct Investment (FDI) and to support economic growth and development in general. These are the economic determinants of economic in Journal number 1 ∘ Givi Bedianashvili ∘ Zviad Gabroshvili ∘ Blockchain technologies for managing public debt 10.36172/EKONOMISTI.2024.XX.01.Givi.Bedianashvili/Zviad.Gabroshvili Annotation. The study presents the application of blockchain technologies in the direction of public debt management. Existing models for debt management are mentioned, such as the debt, investment, growth model and the debt, investment, growth and natural resources model. An important component for achieving sustainability, the use of blockchain technology for increasing the efficiency of state investments, which implies the transparency of investments, is presented. The study showed how the government should use blockchain technology to make investments more efficient and transparent, which could reduce the likelihood of an explosive debt problem. The paper also discusses how the state can find resources through blockchain technology and, in certain cases, reduce the public debt based on the emergence of new reserves. The risks of using this technology are also shown, which can cause significant problems in the dire Journal number 1 ∘ Zurab Garakanidze ∘ The so-called half-sanctions’ role in Central Europe’s gas supply monopolization 10.36172/EKONOMISTI.2024.XX.01.Zurab.Garakanidze Expanded Summary The article discusses the facts of the energy conflict between the Russian Federation and the European Union, and proposals by which Georgia, as a candidate country, can respond to the energy security challenges of the European Union. For example, from April 27, 2022, Gazprom completely stopped supplying gas to Bulgargaz, due to the latter's refusal to pay in Russian rubles. In response, in June 2022, the trial delivery of Azerbaijani gas to Bulgaria through the "South Caucasian Gas Pipeline" in the "Southern Gas Corridor" through Georgia began. Through the “Trans-Adriatic Gas Pipeline” (TAP) Bulgaria-Greece Interconnector - IGB, located in the same "Corridor" of the European Union, which will be 3 billion cubic meters by the end of 2024. Southeastern European countries - Italy and Greece, and later Bulgaria - have receive gas from Azerbaijan through the "Southern Gas Corridor of the European Union" Journal number 1 ∘ Zurab Tsereteli ∘ PROBLEMS OF ECONOMIC SECURITY OF THE ENTERPRISE AND WAYS TO OVERCOME THEM 10.36172/EKONOMISTI.2024.XX.01.Zurab.Tsereteli Annotation. The paper examines problems of economic security of the enterprise and ways to overcom them, as a result of improvement the economic indicators of the enterprise are achieved. Keywords: economic security, economic security of the enterprise, economic efficiency of the enterprise. Introduction Nowadays, economic security has a great international recognition. It is an important condition for better existence and development a mindful society in the whole world. Economic security is understood as a field of scientific knowledge in which the role of economy is considered, that ensures a high and stable growth of the main economic indicators. A special attention is paid to the economic security and threats. This is due to the current conditions in the world. The enterprises are forced to operate with different levels of risk and also the arising of various destabilizing factors. Problems of economic security are always r Journal number 1 ∘ Shota Abzianidze ∘ Tengiz Verulava ∘ Use of cannabinoids, hallucinogens and stimulants among young people in Georgia 10.36172/EKONOMISTI.2024.XX.01.Shota.Abzianidze/Tengiz.Verulava Resumme Introduction: The growing trends in drug use and the complexity of control mechanisms represent a significant challenge in public health, both nationally and globally. Young people are especially vulnerable in this regard. Premature use of drugs has a significant impact on adolescent and youth development. In the last decade, the so-called Club drug use has been rampant among young people, and cannabinoids remain the most widely used drug on the global scene. In Georgia, the events that have developed in recent years, which are changes in the legal framework and the liberalization of the state's position on narcotic drugs, in particular cannabinoids, have changed the situation in terms of the use of narcotic drugs. Very few studies are available to assess how much the situation has changed before and after the legislative changes. It is the lack of relevant information and scientific studies that became the main Journal number 1 ∘ Lela Menabdishvili ∘ Nana Menabdishvili ∘ Nino Gomelauri ∘ TRANSFORMATION OF SOCIO-DEMOGRAPHIC BEHAVIOR IN THE GEORGIAN FAMILY 10.36172/EKONOMISTI.2024.XX.01.Lela.Menabdishvili/Nana.Menabdishvili/Nino.Gomelauri Annotation. The fact that our population is gradually declining and that the Georgian nation is one of the dying nations is both significant and tragic for the future of the country. Against this background, it is undoubtedly timely to study and research the causes that have brought the country to this state. The following article deals with the consequences of the transformation of socio-demographic behaviour that the family is undergoing. It focuses on the period of the new century (2001-2022). The aim of the article is to show how the transformation of the socio-demographic behaviour taking place within the Georgian family has changed the demographic picture of the country and to highlight the serious character of the demographic situation existing at the present stage. The relevance of the article lies in the analysis of issues related to fertility, reproductive behaviour of families in diffe Journal number 1 ∘ Tea Munjishvili ∘ The Development of a machine learning software system for predicting business financial results[1] 10.36172/EKONOMISTI.2024.XX.01.Tea.Munjishvili Expanded Summary In the article we research let's understand if the peculiarities of accounting and reporting in Georgia to the size categories of enterprises according and what financial forecasts can be made according to the indicators reflecting the financial condition of enterprises. Small-sized enterprises of the fourth category were selected as the objects of the study, because a large part of the enterprises operating in Georgia belong to the fourth category according to their indicators. For information, 13.12.23 According to the data, 1,675,893 individuals and 347,544 legal entities are recorded in the database of the Revenue Service. (According to the data of 2021, there are 123 enterprises of the first category, and 606 of the second category). A total of 13 enterprises were selected for the research: 6 enterprises of the 4th category, 7 enterprises of the 2nd and 3rd category. The development of the mathem Journal number 1 ∘ Vladimer Basaria ∘ For the issue of interrelationship between education system and youth employment problems Expanded Summary Youth is increasingly becoming the main driving force of the modern world. This is somewhat related to the growing demand for creative and communicative workers in the field of information technology in the rapidly developing digital economy. An important part of them objectively consists of young people. Therefore, it can be said that in the modern world, those (mostly developed) countries that improve and realize the human capital of young people have a certain strategic advantage. Unfortunately, in many places (including our country), youth still belong to the vulnerable category, which faces significant difficulties when looking for a job, and this is primarily related to the ineffective state employment policy, which limits the realization of the labor potential of young people, hinders the growth process of the national economy, and The level of political, social, technological or cultural competitiveness of the country as a whole decreases. I think that solvi Journal number 1 ∘ Nino Zhorzhikashvili ∘ The influence of direct foreign investments on the economy of Georgia 10.36172/EKONOMISTI.2024.XX.01.Nino.Zhorzhikashvili Expanded Summary Foreign investments are one of the ways to achieve economic growth for the country. Foreign investment increases the stock of capital in a country, leading to higher productivity and higher levels of employment. Foreign investments also allow developing countries to learn about and use the latest technologies that are produced and used in countries with developed economies. In the modern conditions of globalization, attracting foreign direct investments is a vital necessity for Georgia, since it leads to the growth of investments in infrastructure, technologies and other important sectors, which is the main stimulator of economic growth. In addition, FDI facilitates both the creation of new businesses and the expansion of existing ones, which increases employment opportunities for the local workforce, lowers the unemployment rate, and increases household income. When we talk about the impact of d Journal number 1 ∘ Niko Khutsishvili ∘ Economic policy that promots the implementation of innovations in Georgian Agriculture, through Industry 4.0 Annotation: The current data and challenges of agriculture in Georgia are analyzed in the article. The article also discusses innovative approaches that allow entrepreneurs to be more productive and competitive during the fourth industrial revolution. The article analyzes the existing programs in Georgia that contribute to the development of agriculture. The current data in Georgia was compared with the average data of the world. Based on these data, a regression model is built that establishes the relationship between resources spent on research and development and agricultural output. Conclusions and recommendations are made based on the research. Key words: Innovation, Agriculture, Fourth Industrial Revolution, Economic Policy Introduction Innovations are the most important factor of human development. It is a driving force of economic growth and prosperity that allows countries and entrepreneurs to create new goods, increase productivity and compete with other business ent Journal number 1 ∘ Salome Tvalodze ∘ Analysis of Sustainable Financial Products and Sustainable Finance Market Trends in Georgia Expanded Summary In recent years, the global financial landscape has witnessed a paradigm shift towards sustainability, driven by increasing awareness of environmental and social challenges. Within this context, sustainable finance has emerged as a critical avenue for fostering economic growth while addressing pressing environmental and social concerns. In Georgia, a country with a burgeoning economy and a growing emphasis on sustainability, the analysis of sustainable financial products and market trends holds significant importance. This paper aims to provide a comprehensive examination of sustainable financial products and sustainable finance market trends within the Georgian context. By exploring the landscape of sustainable finance in Georgia, we seek to understand the extent to which sustainable financial instruments are being utilized and their impact on the broader financial ecosystem. Furthermore, we will delve into the trends shaping the sustainable finance market in Georgi Journal number 1 ∘ Mariam Kutateladze ∘ Factors Effecting on Quality of Hotel Service and Main Aspects of Assecment Expanded Summary In the paper as its title indicates are investigated the factors affecting the quality of the hotel services and the main aspects of their assessment. For any company working in the hotel industry ensuring and maintenance the high quality of the hotel service is a strong lever of its well development. In addition it is closely related to the continues improvement of activities between enterprise representatives and customers. The essence of the peculiarity of hotel service in many cases is associated with its intangible ‘’perception’’ and indivisibility. When visiting a hotel, guests pay a certain amount not only for accommodation , but also for the impressions received during the provided service. Customers ‘‘’perceptions&rsquo Journal number 1 ∘ Giorgi Tchotchua ∘ Landscape diversity of Georgia and perspectives of sustainable tourism Expanded Summary The essay examines sustainable tourism prospects in Georgia, a country with different landscapes ranging from mountains to the sea, as well as a high variety in terms of flora and fauna. It emphasizes how these natural treasures can positively contribute to the country's long-term destiny and society. Georgia can exploit its natural beauty to achieve economic benefits while protecting its environment and cultural heritage by supporting responsible tourism practices. This method not only helps to preserve the country's beautiful landscapes, but it also improves the quality of life in local communities, promotes cultural interchange, and promotes environmental conservation. Georgia has the opportunity to develop a harmonious relationship between its natural resources, tourism sector, and the well-being of its people for years to come through a well-managed and balanced approach to tourism. The collaboration between UNESCO and the Protected Areas Development Journal number 1 ∘ Teona Makalatia ∘ Implications of diseases on financial reporting and auditing Expanded Summaryt In the era of global warming, the outbreaks of infectious diseases are expected to increase. The latest coronavirus pandemic, or COVID-19, showed us a lot. Regarding the health effects, national authorities and the World Health Organization (WHO) might be consulted. Significant economic repercussions of the crisis also affect firms, for example, because of travel bans or limits on trade, production, and consumption. The accounting, reporting, and auditing of the financial statements of the relevant enterprises or groups are impacted by these economic repercussions. A few of these possible ramifications are highlighted in this publication. Companies and their auditors must take into account how it affects their business and examine them frequently because the impact on businesses will vary. One cannot forecast the pandemic’s future course, duration, or effects. Regardless, auditors and accountants should remind businesses of the initiatives for relief to