SOME PECULIARITIES OF ECONOMICS IN PANDEMIC CONDITIONS

NESTAN GVARISHVILI,

PhD student of Batumi Shota Rustaveli State University,

Georgia, Batumi

E-mail: nestangvarishvili@gmail.com

orcid.org/0000-0002-6845-9980

Abstract

At the civil stage of the development of civilization, the world economy was affected by various impediments, including inflation, overproduction, wars and conflicts, anomalous processes, and more. At the beginning of  21st century, international economic and social characteristics were hampered by a global process called the pandemic which  is  caused by the COVID-19 virus. The pandemic was massive, rapidly spreading, and unpredictable in nature, affecting both developed and developing countries alike.

The impact of the pandemic on the economy is manifesting for longer than science and government figures can imagine. In the first 5 months of its inception, it directly affected up to 4 billion people. Supply and demand have plummeted, unemployment has risen, financial and resource problems have plagued more than one large company, sector and industry, trade and economic relations between countries have been disrupted for a long time, millions of people have died, and market relations have collapsed in some countries.

The international economy pandemic (COVID-19) has posed significant problems. The main challenges remain scale, unpredictability, rapid spread and other unknown factors. This is probably why different countries use unconventional, different and often hasty measures to compensate for economic damage, the main thing for them is to save lives.

However, the pandemic period  lasts much longer than expected, states will develop strategies for economic recovery. Georgia is among them.

Measures are being taken in the country to ensure the maintenance of investment importance, alleviation of priority sectors and areas, infrastructure, social parameters, employment problems.

The present paper sets out the author's views on these issues, analyzes the approaches of some countries, and substantiates the issues of developing special mechanisms for the regulatory role of the state and the new regime of economic regulation.