SUPPLY-DEMAND SHOCKS AND GOVERNMENT RESPONSE TO PANDEMIC ISSUES (EXAMPLE OF GEORGIA)

In this article, it is discussed the main threats and consequences of the cause of the modern economic crisis - the coronavirus pandemic - that have affected the macroeconomic situation in different countries and regions of the world. The focus is on the radical international economic changes that have caused supply and demand shocks, which have conditioned the structural nature of the crisis. The negative consequences of the pandemic in different sectors of the world are analyzed and general tendencies related to foreign trade, protectionism, employment, fiscal, monetary and other policies are listed. It describes the anti-crisis economic plan developed by the Georgian government and provides examples related to corporate tax shelters. Finally, the conclusion stresses that the priority of the post-crisis economic plan should be to position the country well after the end of the pandemic, as well as to overcome macroeconomic problems such as current account deficits, public debt, unemployment and poverty, rapid economic growth, competitiveness and etc.