scholarly journals COVID 19 - CHALLENGES, ECONOMIC PROBLEMS

2020 ◽  
pp. 70-74
Author(s):  
MIKHEIL CHIKVILADZE
Keyword(s):  
Health Care ◽  
World Bank ◽  
World Economy ◽  
The State ◽  
Economic Losses ◽  
State Budget ◽  
Current State ◽  
The World Bank ◽  
The World ◽  
The Government

The article is focused on problems in the Georgian economy caused by the new coronavirus epidemic. The current implementation of the state budget of Georgia for 2020 has been analyzed, attention has been drawn to the difficulties of both tax and total revenue performance. The main focus is on the effectiveness of business support measures and the transparency and legality of spending money. Measures have been taken on the operative elaboration and implementation of the relevant micro-fiscal policy, in response to the shocks in demand-supply. Coronavirus has caused many problems in the world economy. The world economy fell by 7.5% in the United States on March 9, which has not happened on Wall Street since 2008 global economic crisis. Of course, the influence of Coronavirus on the Georgia’s economy is severe, and the country is trying to deal with it in every possible way. If we analyze the current state budget execution this year, it can be seen that the current state budget for 2020 has been implemented in the first quarter. However, we should not expect the second quarter of the state budget for the same year, as this trend is already visible in April and May. The problems will be reflected in May, both in terms of tax revenues and total revenues as well, which is expected to double the state budget deficit of 2.5%, which means a complete failure of the two quarters. It can be said that the shock of the economy that accompanies coronavirus is quite strange and it affects to the supply and demand at the same time. We see negative risks on the supply side, which is reflected in the high cost of doing business, the demand will decrease as for increased uncertainty, tighter security measures and restrictions on free movement, as a result, the ability of consumers to spend their own money will be reduced. Experience has shown that 1/3 of the economic losses will be caused by direct losses: job cuts, quarantine and etc. 2/3 of economic losses will be indirect - which will be related to the decrease in consumer confidence, changes in the behavior of business entities, as well as the tightening of access to credit resources. It can be said that the global financial market is now more stable than it was before the 2008 crisis, but the main challenge in the current situation is still to manage uncertainty. In such a situation, it is inevitable that the funds from the budget will be prioritized for health care, so that the health care of the citizens not to be hindered. It seems inevitable for us to resolve the demand – to develop appropriate microfiscal policies in response to the shocks in supply. It is welcome that the European Investment Bank supports Georgia in the fight against the new coronavirus, which is to support Georgian business, support the health care system and accelerate the implementation of existing projects. The World Bank provided $ 15 billion quick and instant assistance to address the first challenges of COVID-19, this was mainly in the field of health and social care. The World Bank is currently working on three financial assistance packages: 1. To assist the government in responding to health and social protection challenges, 2. Substantiation will be provided to the state budget to reduce the expected deficit, 3. The World Bank intends to help small and medium-sized businesses to restore jobs and develop the economy, with a particular focus on affected sectors such as tourism, the first phase shall be completed by the end of April, which will be followed consistently. The World Bank has highlighted such an important circumstance as the inevitability of a zoological recession, which will be followed by a slowdown in economic growth, which in the case of Georgia will be 4% (which is significant to consider). According to the government›s decision, 2 billion GEL has been allocated for direct assistance to the economy, in order to provide emergency financial and material assistance to a number of different categories of affected citizens. Particular attention is paid to operative execution and control of measures envisaged in the concrete plan of economic stimulus and the anti-crisis plan of the government.

Prospects of world economy and Russia participation in it

2020 ◽  
pp. 7-13
Author(s):  
E. Ustinovich ◽  
M. Kulikov
Keyword(s):  
Economic Policy ◽  
World Bank ◽  
World Economy ◽  
Russian Economy ◽  
The World Bank ◽  
The World ◽  
Its Regions ◽  
Socio Economic Development ◽  
The Russian Federation ◽  
The Government

The relevance of this article is due to the need to improve the socio-economic development of Russia and its regions on the basis of adopted and ongoing national projects. The Government of the Russian Federation has set the President of Russia the ambitious task of joining the Russian economy in the top fi ve leading economies in the world. An analysis of the data contained in the passports of national projects, as well as statistics from the World Bank and other sources, allowed the authors to draw conclusions about the state of the existing economic policy.

scholarly journals Incorporating Blue Bonds as a funding alternative for a sustainable development project

2021 ◽  
Vol 10 (5) ◽  
pp. 129-134
Author(s):  
Fareis Althalet ◽  
Tira Siya Fajar Rahayu ◽  
Hera Hera ◽  
Ayu Fil Akhirati ◽  
Pingki Pingki ◽  
...  
Keyword(s):  
World Bank ◽  
Development Project ◽  
International Financial Institutions ◽  
International Media ◽  
Fisheries Governance ◽  
The World Bank ◽  
The World ◽  
Good Reputation ◽  
Water Pollution Management ◽  
The Government

This study aims to examine Blue Bonds as a guarantee issued by the issuer (government and companies) as alternative financing. Compared to ordinary bonds that are issued only to meet the issuer's funding needs, the transaction results in Blue Bonds will be used to support marine protection, fisheries governance, waste and water pollution management, and the restoration of marine ecosystems. In this study, the author uses the method literature review sourced from journals, books, reports from related ministries, international financial institutions such as the World Bank, and news from national and international media. The results of this study indicate that by issuing Blue Bonds, the government and companies will get more funds from bond investors. Investors will receive a return in the form of a coupon (fixed interest rate) from the issuer and pay according to schedule and the initial principal investment. Not only that, the government and companies will get a good reputation among investors and actively contribute to Indonesia's maritime development.

THE INTELLECTUALIZATION OF WORLD ECONOMY: ASSESSMENT OF KNOWLEDGE ECONOMY SYMPTOMS

2015 ◽  
Vol 1 (1) ◽  
pp. 61-67
Author(s):  
Andriy Valyukh
Keyword(s):  
World Bank ◽  
Knowledge Economy ◽  
World Economy ◽  
Knowledge Assessment ◽  
Assessment Methodology ◽  
Special Program ◽  
The World Bank ◽  
The World ◽  
Program Knowledge ◽  
Comprehensive Indicator

The main indicators of the knowledge economy in Ukraine and abroad have been investigated. Studied a comprehensive indicator of overall knowledge economy index, which characterizes the level of development of an economy based on knowledge, in countries and regions of the world. He developed in 2004 by the World Bank as part of a special program "Knowledge for Development" in order to determine the ability of countries to create, receive and impart knowledge. The calculation of the Index is based on "Knowledge Assessment Methodology", which includes a set of 109-lei exponents combined into four main groups. Ways of improving the efficiency of the intellectualization of the world economy.

Economic gloom portends instability in Zimbabwe

2016 ◽  
Keyword(s):  
South African ◽  
World Bank ◽  
Driving Force ◽  
Security Forces ◽  
Content Type ◽  
Regional Market ◽  
The World Bank ◽  
The World ◽  
The Government ◽  
South African Rand

Significance Mawarire is the founder of the 'This Flag' movement, which has been a driving force behind a wave of demonstrations and strikes earlier this month against graft, unemployment and economic mismanagement by President Robert Mugabe's government. Impacts Import bans will adversely affect South African exporters, for whom Zimbabwe is a key regional market. Use of the South African rand in Zimbabwe will remain unpopular, due to concerns about its weakness against the dollar. The government will prioritise cash for paying the salaries of the security forces, since these underpin the regime's survival. Loans from the African Export-Import Bank will help Harare to begin paying the World Bank some of its arrears.

Structural Adjustment, Human Needs, and the World Bank Agenda

1991 ◽  
Vol 29 (1) ◽  
pp. 173-189 ◽  
Author(s):  
Howard Stein ◽  
E. Wayne Nafziger
Keyword(s):  
Development Strategy ◽  
World Bank ◽  
Structural Adjustment ◽  
Critical Evaluation ◽  
The State ◽  
Sub Saharan Africa ◽  
Role Of Government ◽  
International Agencies ◽  
The World Bank ◽  
The World

The economic crisis of the 1970s in sub-Saharan Africa led to a critical evaluation of the rôle of government policies by international agencies, including two contrasting views of the problem by the Economic Commission for Africa/Organisation of African Unity and the World Bank. The E.C.A./O.A.U. largely placed the blame on the deteriorating external environment, emphasising the reduction of income inequality, poverty, and unemployment through a continuation of the state-led introverted development strategy of the previous decade. The World Bank responded in the opposite direction, mainly blaming the inappropriate state policies of the post-independence period, while encouraging a re-focus on economic growth through a structural reversal of the state-imposed impediments to the efficient operations of markets.

scholarly journals Demographic determinant of primary school repeater in Indonesia

2021 ◽  
Vol 244 ◽  
pp. 11023
Author(s):  
Omas Bulan Samosir
Keyword(s):  
Growth Rate ◽  
Population Growth ◽  
General Education ◽  
Primary School ◽  
World Bank ◽  
Population Growth Rate ◽  
Infrastructure Development ◽  
The World Bank ◽  
The World ◽  
The Government

The development of a country is supported by its education development. In general, education is financed by the government. It is expected that all school-age population can participate in education. Indonesia has implemented the nine-year compulsory basic education program. The aim of this study is to examine the demographic factors that affect the primary school repeater in Indonesia. The data source was from the World Bank Development Indicator of the World Bank. The data coverage was from 1971 to 2018. The dependent variable was the primary school repeater rate. The independent variables were the population growth rate and fixed telephone subscription. The data were analyzed using multiple regression analysis. The results of the study indicate that higher primary school repeater was associated with higher population growth rate and lower fixed telephone subscription. Therefore, Indonesia needs to manage its population growth rate and improve infrastructure development, in particular information technology infrastructure.

scholarly journals Rural Poverty and Land Degradation: A Review of the Current State of Knowledge

1998 ◽  
Vol 37 (4II) ◽  
pp. 1053-1070 ◽  
Author(s):  
Sohail Jehangir Malik ◽  
Hina Nazli
Keyword(s):  
World Bank ◽  
Land Degradation ◽  
Rural Poverty ◽  
The Past ◽  
Current State ◽  
The World Bank ◽  
Resource Degradation ◽  
The World ◽  
Short And Long Term

By highlighting the lack of rigorous evidence and calling for a greater understanding of the interaction of the two processes, a recent study [Nelson et al. (1997)] has called into question the strong perception that poverty is both a consequence as well as a cause of resource degradation.1 This perception which is widely held is strongly evident in the writings of the multilateral development agencies such as the World Bank (1990) and IFAD (1992) and exists despite extensive reviews which indicate that the short- and long-term implications of land degradation are not very clear [see Scherr and Yadav (1995)]. Similarly, while knowledge about poverty is expanding rapidly, thanks in large parts to the massive international focus and resources brought to bear on its understanding in the past ten.........................

Prospects for the global economy in 2017

2016 ◽  
Keyword(s):  
World Bank ◽  
Global Economy ◽  
World Economy ◽  
Average Growth ◽  
New Normal ◽  
Content Type ◽  
The World Bank ◽  
Factors Influencing ◽  
The World ◽  
Downward Spiral

Subject Prospects for the global economy in 2017. Significance The IMF, the OECD and the World Bank see the world economy growing by about 3.0% next year, little changed from its 2012-16 average growth but down from the 5.1% average achieved during 2003-07. Factors influencing the outlook include weak trade and poor productivity along with high debt levels and policy limitations: these feed into each other, creating a downward spiral of growth expectations. Nonetheless, many economies are well placed to cope with this 'new normal'.

Pandemic may undo Egypt poverty gains

2020 ◽  
Keyword(s):  
World Bank ◽  
Poverty Rate ◽  
Fiscal Sustainability ◽  
Vulnerable Groups ◽  
Safety Nets ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Financial Safety Nets ◽  
The Government

Significance The figure has been presented by the government as a vindication of its efforts to achieve fiscal sustainability while providing financial safety nets for the most vulnerable groups in society. However, the poverty rate is still higher than in 2015, and the new index was compiled before the full impact of the coronavirus pandemic on the economy had become clear. Impacts The economic impact of the pandemic appears to have been relatively light, but this can be attributed partly to statistical anomalies. The poverty rate fall indicates to the IMF and the World Bank that their programmes will eventually pay off for most Egyptians. There is uncertainty about the extent of the return of Egyptians from the Gulf and the effect of this on poverty and unemployment.

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