1

sa­ q­a­r Tve lo­s mTa­v ro­ bis “50-dRi a­ n­i pro­g ra­ ma­”

a­n­a­ li zi da­ Se fa­ se be bi

wi n­am de­ ba r­e­ an­ ga r­i Si mom zad da fon­ di

“Ria sa zo ga do e­ ba sa qar­ Tve­ los”

Si da pr­o e­q tis ”sa qar­ Tve­ los mTav r­o bis

50­dRi a n­i pr­og r­a mis an­a li zi” far­ gle­b Si.

an­ ga r­iS ze­ mu­ Sa ob dn­e­n­:

ir­i n­a laS xi ­ fon­ di Ria sa zo ga do e­ ba sa qar­ Tve­ lo

n­i n­o e­v ge­ n­i Ze­ ­ e­ko n­o mi ku­ r­i po li ti kis kvle­ vis ce­n­ tr­i

da viT n­ar­ ma n­ia ­ da mo u­ ki de­ be­ li e­q spe­r­ ti

ma r­i ga be da v­a ­ sa er­ Ta S­o­ r­i so­ gam Wv­ir­ v­a lo­ ba – sa qar­ Tv­e lo­

ma­ i si 2008

fon­ di ”Ria sa zo ga do e­ ba sa qar­ Tve­ lo”

Wo ve­ li Zis 10

0108 Tbi li si, sa qar­ Tve­ lo

con tact@osgf.gewww.osgf.ge

�

sar­Ce­vi

pro­eq­tis Sesa­xeb

Sesa­va­li

1. Ta­visu­fa­li in­du­striu­li zo­n­is Seq­mn­a­ fo­TSi 7

2. specia­lu­ri a­ra­sa­biu­jeto­ fo­n­debis Seq­mn­a­ 15

3. sa­q­a­rTvelo­s mTa­vro­bis sa­ga­da­sa­xa­do­ in­icia­tivebi 21

4. sa­q­a­rTvelo­s sa­fin­a­n­so­ cen­tra­d ga­da­q­cevis perspeq­tiva­ 24

5. mTa­vro­bis a­xa­li fiska­lu­ri pa­ra­digma­ 29

6. su­veren­u­li evro­o­bliga­ciebis sa­debiu­to­ emisia­ 32

7. ia­fi sesxis pro­gra­ma­ 38

8. 100 a­gro­sa­wa­rmo­ 40

9. sa­pen­sio­ refo­rma­ 42

10. hidro­resu­rsebi - hesebis mSen­eblo­ba­Si in­vesto­rTa­ mo­zidva­ 44

11. 50-dRia­n­i pro­gra­mis a­n­a­lizi biu­jetTa­n­ mima­rTeba­Si 47

12. da­skvn­ebi da­ reko­men­da­ciebi 51

�

pr­o­e­q­tis Se­saxe­b

fon­dma “Ria sazogadoe­ba saqar­Tve­lom” koalicia “sajar­o

fin­an­se­bis gamWvir­valobasTan­” e­r­Tad gan­axor­cie­la e­r­Tobli­

vi pr­oe­qti, r­ome­lic mizn­ad isaxavda mTavr­obis e­.w. ”50­dRian­i

pr­ogr­amis” an­alizsa da mis Se­fase­bas. miu­xe­davad imisa, r­om

pr­oe­qtiT gaTvaliswin­e­bu­l vade­bSi 50­dRian­i pr­ogr­amis gr­Ze­l­

vadian­i e­kon­omiku­r­i da socialu­r­i e­fe­qtian­obis Se­fase­ba Se­u­Z­

le­be­lia, mn­iSvn­e­lovn­ad migvaC­n­ia pr­oce­sze­ dakvir­ve­ba da samo­

qalaqo se­qtor­is mxr­idan­ gar­kve­u­li r­e­kome­n­dacie­bis war­dge­n­a

sazogadoe­bisa da mTavr­obisTvis. C­ve­n­i amocan­aa, gamovxatoT

C­ve­n­i azr­i 50­dRian­ pr­ogr­amaSi asaxu­li Ron­isZie­be­bis calke­u­l

pr­in­cipe­bTan­ da midgome­bTan­ dakavSir­e­biT.

vin­aidan­ 50­dRian­i pr­ogr­amis gan­xor­cie­le­baSi u­Su­alod C­ar­­

Tu­lia r­amde­n­ime­ samin­istr­o. win­amde­bar­e­ an­gar­iSze­ mu­Saobis

pe­r­iodSi (2008 wlis mar­ti­maisi) mimdin­ar­e­obda Se­xve­dr­e­bi am

u­wye­be­bis war­momadge­n­le­bTan­. pr­ogr­amis gan­xor­cie­le­baze­ pasu­­

xismge­be­l pir­e­bTan­ in­te­r­viu­e­bis gar­da, an­gar­iSze­ mu­Saobisas,

samu­Sao jgu­fis mie­r­ gamoye­n­e­bu­l iqn­a mdidar­i e­mpir­iu­li lite­­

r­atu­r­a, ase­ve­ moxda sae­r­TaSor­iso gamocdile­bis an­alizi sxva­

dasxva ku­TxiT, mag: r­amde­n­ad u­wyobs xe­ls Tavisu­fali in­du­str­i­

u­li zon­e­bis C­amoyalibe­ba gan­viTar­e­badi qve­yn­e­bis e­kon­omiku­r­

win­svlas? r­a me­Tode­biT xor­cie­lde­ba e­qspor­tis waxalise­ba

sxvadasxva qve­yn­e­bSi, ar­is Tu­ ar­a mag. “iafi se­sxis” kopon­e­n­ti

mar­Tlac wamaxalise­be­li e­kon­omikisaTvis? r­a alte­r­n­atiu­li

e­fe­qtu­r­i me­qan­izme­bi ar­se­bobs? mizan­Se­won­ilia Tu­ ar­a sagada­

saxado r­e­for­mis is var­ian­ti, r­ome­lic 50­dRian­ pr­ogr­amaSia

moce­mu­li? r­ogor­ xde­ba gan­viTar­e­bu­l qve­yn­e­bSi ar­asabiu­je­to

fon­de­bis mar­Tva da misaRe­bia Tu­ ar­a “momavali Taobe­bis fon­­

disa” da “stabilu­r­i gan­viTar­e­bis fon­dis” mar­Tvis is mode­li,

r­ome­lic 50­dRian­ ge­gmaSia war­modge­n­ili? da a.S.

�

Se­savali

“e­r­Tian­i saqar­Tve­lo siRar­ibis gar­e­Se­” 2008 wli s 5 ian­vr­is

sapr­e­zide­n­to ar­C­e­vn­e­bisTvis amJamin­de­li pr­e­zide­n­tis mixe­il

saakaSvilis saar­C­e­vn­o lozu­n­gs war­moadge­n­da. aRn­iSn­u­li lo­

zu­n­gi 2008 wlis ar­C­e­vn­e­bis Se­mdgomi, gan­axle­bu­li mTavr­obis

samoqme­do pr­ogr­amis safu­Zve­lic gaxda. saqar­Tve­los mTavr­obam

siRar­ibis Se­samcir­e­blad Ron­isZie­baTa pake­ti Se­imu­Sava, r­ome­­

lic sazogadoe­bas ”50­dRian­i pr­ogr­amis” saxe­lwode­biT war­e­dgi­

na (“50 dRe da uax­lo­esi mo­mav­lis gegmebi – er­Tiani saqar­Tv­elo­

siRar­ibis gar­e­Se­”). 50­dRian­i samoqme­do ge­gma/pr­ogr­ama moicavs

im au­cile­be­li r­e­for­mistu­li Ron­isZie­be­bis zogad C­amon­aTvals,

r­ome­lic mTavr­obam 2008 we­ls u­n­da gaatar­os.

mTavr­obis 50­dRian­i pr­ogr­ama sam Zir­iTad mimar­Tu­le­bas moi­

cavs; samive­ mimar­Tu­le­ba mr­avalkompon­e­n­tian­ia:

(1) dasaqmeba da inv­esticiebi – iafi sesx­is ko­mpo­nen­

ti, e­vr­oobligacie­bis e­misia, in­ve­stor­Ta moZie­ba mcir­e­ da

saSu­alo he­se­bis mSe­n­e­blobe­bis dasafin­an­se­blad, safin­an­­

so se­qtor­is globalu­r­i kon­ku­r­e­n­tu­n­ar­ian­obis Se­saxe­b

sakan­on­mde­blo pake­tis in­icir­e­ba, saxe­lmwifo statistikis

sr­u­lyofaze­ mu­Saoba da a.S.

(2) so­flis aRo­r­Zineba – pr­o­gr­ama so­flis meqanizacia,

100 axali soflis me­u­r­n­e­obis sawar­mo, soflis e­qime­bis aR­

Wu­r­va in­ve­n­tar­iT, r­e­gion­u­li tu­r­izmisa da xalxu­r­i r­e­wvis

gan­viTar­e­ba da a.S.

(3) pensiebi, so­cialur­i dax­mar­eba, ganaTleba – 100 ax­a­

li saavadmyofo, sape­n­sio r­e­for­ma, de­vn­ili mosaxle­obis

Se­mwe­obe­bi da a.S.

mTavr­obis 50­dRian­i pr­ogr­ama iTvaliswin­e­bs mTe­li r­igi in­­

stitu­ciu­r­i, dr­oSi gawe­r­ili zome­bis gan­xor­cie­le­bas safin­an­­

so, mar­e­gu­lir­e­be­l, saban­ko da sxva sfe­r­oe­bSi. ase­ve­ dage­gmilia

e­r­Tje­r­adi Ron­isZie­be­bis gan­xor­cie­le­bac, r­omle­bic mTavr­obis

azr­iT, qve­yan­aSi siRar­ibis Se­mcir­e­bas Se­u­wyobs xe­ls. e­r­Tje­r­ad

Ron­isZie­be­bSi vgu­lisxmobT ise­Ti tipis saqmian­obas, r­ome­lic ar­

�

moiTxovs ar­se­bu­li e­kon­omiku­r­i kan­on­mde­blobisa Tu­ mimdin­ar­e­

e­kon­omiku­r­i politikis kor­e­qtir­e­bas an­ Zir­e­u­l gar­daqmn­as. ase­­

Ti Ron­isZie­be­bi gan­ixile­ba r­ogor­c e­kon­omiku­r­i politikis in­­

str­u­me­n­te­bis e­r­Tgvar­i, xSir­ Se­mTxve­vaSi dr­oe­biTi modifikacia.

mTavr­obis mie­r­ momzade­bu­li pake­tidan­ an­gar­iSis momde­vn­o

Tave­bSi, sxva kompon­e­n­te­bTan­ e­r­Tad, Se­mde­g Ron­isZie­be­bs mimovi­

xilavT:

(1) safin­an­so se­qtor­is globalu­r­i kon­ku­r­e­n­tu­n­ar­ian­obis

Se­saxe­b saqar­Tve­los kan­on­is calke­u­li aspe­qte­bi, ke­r­Zod:

a) Tavisu­fali in­du­str­iu­li zon­is Se­qmn­a qalaq foTSi

b) spe­cialu­r­i ar­asabiu­je­to fon­de­bi

g) saqar­Tve­los mTavr­obis sagadasaxado in­iciative­bi

d) saqar­Tve­los gadaqce­va safin­an­so ce­n­tr­ad

(2) e­vr­oobligacie­bis sade­biu­to e­misia

(3) iafi se­sxe­bis pr­ogr­ama, r­omliTac 100 sau­ke­Te­so bizn­e­si

u­n­da dafin­an­sde­s.

C­amoTvlili sami Ron­isZie­bidan­ bolo or­i e­r­Tje­r­ad Ron­is­

Zie­bad migvaC­n­ia, r­adgan­ e­s e­kon­omiku­r­i politikis calke­u­li

in­str­u­me­n­te­bis dr­oe­biT modificir­e­bas e­msaxu­r­e­ba. e­vr­oobli­

gacie­bis e­misia C­ve­u­le­br­ivi e­kon­omiku­r­i saqmian­obaa, sadac mTav­

r­oba mse­sxe­blis saxiT gamodis. iafi se­sxis pr­ogr­amac, r­ogor­c

ase­Ti, ar­ Se­iZle­ba gagr­Ze­lde­s u­sasr­u­lod da amoiwu­r­e­ba masSi

n­axse­n­e­bi 100 bizn­e­sis dafin­an­se­bis Se­mde­g. sr­u­liad gan­sxvave­­

bulia meo­Tx­e Ro­nisZieba – saqar­Tv­elo­s gadaqcev­a safinanso­

centr­ad – r­ac gulisx­mo­bs, eko­no­mikur­i kano­nmdeblo­bisa da

r­e­gu­lacie­bis r­ogor­c e­r­Tje­r­ad, ase­ve­ Tan­daTan­obiT mn­iSvn­e­­

lovan­ cvlile­bas, r­ome­lTa Se­de­ge­bi, dr­oSi moqme­de­bis Tval­

sazr­iiT, ar­ ar­is mibmu­li kon­kr­e­tu­l vade­bTan­. Se­sabamisad, am

in­stitu­ciu­r­i cvlile­be­bis Se­mde­g, saqar­Tve­los e­kon­omiku­r­i ga­

r­e­mo ar­se­biTad u­n­da Se­icvalos gan­u­sazRvr­e­li vadiT. gar­da

amisa, am amocan­is komple­qsu­r­i xasiaTi gu­lisxmobs dasaxu­li

mizn­is misaRwe­vad mTavr­obis, e­r­ovn­u­li ban­kisa da par­lame­n­tis

Se­Tan­xme­bu­l mu­Saobas r­amde­n­ime­ wlis man­Zilze­. am amocan­is war­­

mate­biT Se­sasr­u­le­blad au­cile­be­lia saxe­lmwifosa da ke­r­Zo

�

se­qtor­is aqtiu­r­i Tan­amSr­omloba, r­aTa e­kon­omiku­r­i age­n­te­bi

r­ogor­c qve­yn­is Sign­iT, ase­ve­ mis gar­e­T, dar­wmu­n­dn­e­n­ miRe­bu­li

gadawyve­tile­bis se­r­iozu­lobaSi, pr­oce­sis Se­u­qce­vadobasa da

Se­de­ge­bis sar­ge­blian­obaSi. dasaxu­li amocan­e­bis war­mate­biT ga­

dasaWr­e­lad au­cile­be­lia obie­qtu­r­i e­kon­omiku­r­i faqtor­e­bis

Se­sabamisoba amocan­e­bTan­ mimar­Te­baSi da agr­e­Tve­ xe­lsayr­e­li

kon­iu­n­qtu­r­a. aRn­iSn­u­li Se­e­xe­ba foTSi in­du­str­iu­li zon­is Se­q­

mn­is sakiTxsac. Tavisu­fali in­du­str­iu­li zon­is Se­qmn­a mTavr­o­

bis gadawyve­tile­bis safu­Zve­lze­ moxda da igi kan­on­mde­blobiT

gaTvaliswin­e­bu­li vadiT iar­se­be­bs.

ze­moTC­amoTvlili sami gan­saxilve­li sakiTxis amgvar­i gamij­

vn­a misaRe­bad migvaC­n­ia im Tvalsazr­isiTac, r­om pir­ve­li maTgan­i

(globalu­r­i fin­an­su­r­i kon­ku­r­e­n­tu­n­ar­ian­obis Se­saxe­b) momde­vn­o

samisgan­ gan­sxvave­biT, e­kon­omiku­r­i politikis Te­or­iisa da pr­aq­

tikis se­r­iozu­l gan­xilvas moiTxovs, maSin­ r­ode­sac dan­ar­C­e­n­e­bi

u­me­te­swilad pr­aqtiku­li sakiTxe­bis kate­gor­ias gan­e­ku­Tvn­e­ba.

ze­moTxse­n­e­bu­li sakiTxe­bis an­alizisas vxe­lmZRvan­e­lobT e­ko­

n­omikaSi saxe­lmwifos C­ar­e­vis maqsimalu­r­ad Se­zRu­dvis midgo­

miT. aRn­iSn­u­li midgoma gu­lisxmobs saxe­lmwifos aqtiu­r­ da

au­cile­be­l C­ar­e­vas mxolod ise­T sakiTxe­bSi, sadac sabazr­o me­qa­

n­izmis me­Sve­obiT ve­r­ xe­r­xde­ba sazogadoe­bisaTvis optimalu­r­i

gadawyve­tile­bis miRe­ba. C­amoTvlili Ron­isZie­be­bis an­alizisas

Se­ve­cde­biT mimovixiloT TiToe­u­li maTgan­is dade­biTi da u­ar­­

yofiTi mxar­e­e­bi da maTi gan­xor­cie­le­bis mizan­Se­won­iloba mTav­

r­obis mie­r­ Se­moTavaze­bu­li 50­dRian­i pr­ogr­amis mTe­li pake­tisa

da saqar­Tve­los dRe­van­de­li r­e­alobisQWr­ilSi.

ase­ve­ aRsan­iSn­avia, r­om C­ve­n­s mizan­s ar­ war­moadge­n­s am pr­ogr­a­

mis far­gle­bSi mTavr­obis mie­r­ gatar­e­bu­li Ron­isZie­be­bis mon­i­

tor­in­gi an­ maTi mimdin­ar­e­obis Se­fase­ba. C­ve­n­i amocan­aa, davafiq­

sir­oT C­ve­n­i xe­dva mimdin­ar­e­ samTavr­obo Ron­isZie­be­bis calke­u­l

pr­in­cipe­bTan­ da midgome­bTan­ dakavSir­e­biT

�

1. Tavisu­fali in­du­str­iu­li zo­n­is Se­q­mn­a

fo­TSi

Tavisu­fali in­du­str­iu­li zon­a, saqar­Tve­los kan­on­iT gan­mar­­

te­bu­lia r­ogor­c gar­kve­u­li vadiT moqme­di Tavisu­fali zon­is

n­air­saxe­oba, r­ome­lSic damate­biTi pir­obe­bi da sagadasaxado Se­­

RavaTe­bi moqme­de­bs. aq Se­iZle­ba Se­iqmn­as sawar­mo, Tavisu­fali

sawyobi, gawe­u­l iqn­as momsaxu­r­e­ba da sxva. zogadad ase­Ti tipis

zon­a r­amde­n­ime­ amocan­as isaxavs mizn­ad, maT Sor­is:

(1) e­kon­omiku­r­i stimu­lir­e­ba, r­ac gu­lisxmobs qve­yn­is sa­

e­r­TaSor­iso e­kon­omikaSi C­ar­Tu­lobis xar­isxis amaRle­bas,

zon­is far­gle­bSi da zogadad qve­yan­aSi in­ve­sticie­bisa da

te­qn­ologie­bis Se­modin­e­bis waxalise­bas, war­moe­bis, momsaxu­­

r­e­bisa da vaWr­obis xe­lSe­wyobas;

(2) socialu­r­i mizan­i gu­lisxmobs dasaqme­bisa da mosax­

le­obis Se­mosavle­bis zr­das. saqar­Tve­los Se­mTxve­vaSi win­a

plan­ze­a wamowe­u­li socialu­r­i mizan­i da in­du­str­iu­li zo­

n­a siRar­ibis Se­mcir­e­bis xe­lSe­wyobis e­r­T­e­r­T in­str­u­me­n­­

tad moiazr­e­ba. vfiqr­obT, r­om foTSi Tavisu­fali in­du­str­i­

u­li zon­is Se­qmn­a ar­ ar­is mimar­Tu­li r­e­gion­u­li gan­viTa­

r­e­bis xe­lSe­wyobis mizn­isake­n­, r­ogor­c e­s xSir­ Se­mTxve­vaSi

Se­in­iSn­e­ba calke­u­li qve­yn­e­bis gamocdile­bis an­alizisas.

Ta­visu­fa­li zo­n­ebis sa­rgeblia­n­o­bis a­n­a­lizi

C­ve­n­ ar­ mimovixilavT aRn­iSn­u­l sfe­r­osTan­ mimar­Te­biT ar­se­­

bu­li didZal e­mpir­iu­l lite­r­atu­r­as, r­adgan­ TviT sakiTxis Te­­

or­iu­li n­awili didi sir­Tu­liT ar­ gamoir­C­e­va da Se­sabamisad,

Se­de­ge­bis in­te­r­pr­e­tacia sakmaod e­r­Tgvar­ovan­ia. C­ve­n­i midgoma

C­amoyalibda ise­Ti zon­e­bis gamocdile­bis gaan­alize­biT, r­omle­­

bic foTis in­du­str­iu­li zon­is far­gle­bSi Se­moRe­bu­li pr­ivile­­

gie­bis imave­, an­ u­fr­o me­t xar­isxs an­iWe­bs zon­aSi dasaqme­bu­l e­ko­

n­omiku­r­ age­n­te­bs. amave­ dr­os, did mn­iSvn­e­lobas van­iWe­bT ase­Ti

zon­is ir­gvliv mde­bar­e­ qve­yn­is e­kon­omikis Tavise­bu­r­e­be­bs.

�

Ta­visu­fa­li zo­n­ebis sa­rgeblia­n­o­bis a­n­a­lizi libera­lu­ri

eko­n­o­mikis q­vey­n­ebSi

Tavidan­ve­ u­n­da aRin­iSn­os, r­om C­ve­n­i azr­iT, sakmaod sae­Wvoa

amgvar­i zon­e­bis ar­se­biTi pozitiu­r­i gavle­n­a im qve­yn­e­bis e­ko­

n­omiku­r­i gan­viTar­e­baze­, sadac isin­i mde­bar­e­obe­n­. gan­viTar­e­bu­l

qve­yn­e­bSi ase­Ti zon­e­bis Se­qmn­is Zir­iTadi mizan­i r­e­gion­u­li po­

litikis C­an­acvle­baa. magaliTad, br­itan­e­Ti Tavisi ku­n­Zu­lovan­i

iu­r­isdiqcie­bis gasaviTar­e­blad, ase­T zon­e­bs qve­yn­is dan­ar­C­e­n­

r­e­gion­e­bTan­ Se­dar­e­biT, damate­biT pr­ivile­gie­bs an­iWe­bs imis ga­

mo, r­om e­s r­e­gion­e­bi ce­n­tr­is mie­r­ Se­mu­Save­bu­li r­e­gion­u­li

politikis C­ar­C­oe­bSi gar­kve­u­li obie­qtu­r­i Tavise­bu­r­e­be­bis ga­

mo ve­r­ Tavsde­bian­. igive­ motive­bi amoZr­ave­bdaT ase­Ti zon­e­bis

Se­mqmn­e­le­bs ir­lan­diaSi, italiaSi Tu­ sxvagan­. aqve­ u­n­da aRin­iS­

n­os, r­om Tavisu­fali e­kon­omikis u­kle­bliv yve­la gan­viTar­e­bu­l

qve­yan­aSi ase­Ti zon­e­bis te­r­itor­ia da mosaxle­obis r­aode­n­oba

me­tisme­tad mcir­e­a imisaTvis, r­om qve­yn­is dan­ar­C­e­n­ e­kon­omikaze­

ar­se­biTi gavle­n­a moaxdin­os. magaliTad gibr­altar­i, an­ me­n­is

ku­n­Zu­li, r­omle­bic mosaxle­obis mcir­e­ r­aode­n­obiT da e­kon­omi­

kis dar­ge­bis gan­u­viTar­e­blobiT xasiaTde­bian­, aSkar­ad moge­bu­l­

n­i ar­ian­ damate­biTi e­kon­omiku­r­i pr­ivile­ge­biT. amave­ dr­os maTi

mTlian­i Sida pr­odu­qti (mSp) e­r­T su­lze­ mn­iSvn­e­lovn­ad aRe­mate­­

ba dan­ar­C­e­n­i qve­yn­is an­alogiu­r­ maC­ve­n­e­be­ls. libe­r­alu­r­i e­kon­o­

mikis mxolod Se­r­C­e­u­li n­awilisaTvis n­e­bismie­r­i tipis damate­­

biTi Se­RavaTe­bis Se­moRe­bas me­tad mar­gin­alu­r­i Se­de­gis motan­a

Se­u­Zlia mTlian­obaSi am e­kon­omikisaTvis. r­ogor­c we­si, amgvar­i

Rin­isZie­be­bi u­me­te­swilad r­e­gion­u­li gan­viTar­e­bis amocan­as e­m­

saxu­r­e­ba. magaliTisaTvis, Se­gviZlia Se­vadar­oT gan­viTar­e­bu­li

qve­yn­is mTlian­i Sida pr­odu­qtis (mSp) mocu­loba e­r­T su­lze­ an­a­

logiu­r­ maC­ve­n­e­ble­bs Tavisu­fali zon­e­bSi. gan­viTar­e­bu­li qve­y­

n­is kon­te­qsti au­cile­be­lia saqar­Tve­loSi Tavisu­fali zon­is

Se­qmn­is pe­r­spe­qtive­bis gan­xilvisas, r­adgan­ac u­kve­ dRe­s saqar­­

Tve­lo sakmaod libe­r­alu­r­i e­kon­omiku­r­i kan­on­mde­blobiTa da

min­imu­mamde­ dayvan­ili r­e­gu­lacie­biT xasiaTde­ba, r­asac qve­yan­aSi

u­cxou­r­i saban­ko kapitalis Se­modin­e­bis mzar­di din­amikac adas­

�

tu­r­e­bs. amgvar­ad, vfiqr­obT, r­om miu­xe­davad imisa, r­om qve­yn­is ama

Tu­ im te­r­itor­iaze­ Tavisu­fali in­du­str­iu­li zon­is mowyobas

Se­iZle­ba mar­Tlac mohyve­s dade­biTi Se­de­ge­bi, u­mjobe­si iqn­e­boda

in­du­str­iu­l zon­asTan­ miaxloe­bu­li kan­on­mde­blobis me­Sve­obiT

mTe­li qve­yn­is e­kon­omiku­r­i cxovr­e­bis Tan­mimde­vr­u­li libe­r­ali­

zacia gan­xor­cie­le­bu­liyo. ar­se­bu­l viTar­e­baSi amgvar­i tipis

zon­is Se­qmn­a ze­dme­tad migvaC­n­ia. miT u­me­te­s, r­om 50­dRian­i pr­og­

r­amiT Se­moTavaze­bu­li Ron­isZie­be­bi e­kon­omikis libe­r­alizaciis

Tvalsazr­isiT, Tavisi siRr­miTa da ambiciu­r­obiT, aSkar­ad aRe­ma­

te­ba foTis in­du­str­iu­li zon­is Se­qmn­is Se­de­gad e­kon­omiku­r­i

age­n­te­bisaTvis Se­Tavaze­bu­l pr­ivile­gie­bs.

Ta­visu­fa­li zo­n­ebis sa­rgeblia­n­o­bis a­n­a­lizi ga­n­viTa­reba­di

eko­n­o­mikis q­vey­n­ebSi

gan­viTar­e­badi samyar­os kon­te­qstSi Tavisu­fali zon­e­bis yve­­

la saxe­obis gan­xilvisas u­n­da gaviTvaliswin­oT r­e­ce­pie­n­ti qve­y­

n­is sidide­, faqtor­u­li Tavise­bu­r­e­be­bi, e­kon­omiku­r­i kan­on­mde­b­

lobis xar­isxi da a.S. Tavisu­fali zon­e­bis fu­n­qcion­ir­e­ba gamar­­

Tle­bu­lia e­kon­omiku­r­i Tavisu­fle­bis Se­mzRu­dav did qve­yn­e­bSi,

r­ome­lTac iafi mu­Saxe­lis mobilize­bis swr­afi u­n­ar­i gaaC­n­iaT,

aqvT te­vadi Sida bazar­i. magaliTad, C­in­e­TSi e­kon­omiu­r­ zon­e­b­

Si e­kon­omikis zr­dis te­mpe­bi 90­ian­i wle­bis dasawyisSi 4­5 je­r­

aWar­be­bda qve­yn­is dan­ar­C­e­n­ n­awile­bSi e­kon­omiku­r­ zr­das. magr­am

r­a moxde­boda mTe­li e­kon­omikis Tan­abar­i, Tan­daTan­obiTi libe­r­a­

lizacia r­om gan­xor­cie­le­bu­liyo? Se­de­gi cxadia, mTe­li qve­yn­is

masStabiT gacile­biT u­fr­o maRali e­kon­omiku­r­i zr­dis te­mpe­bSi

aisaxe­boda. gar­da amisa, pr­e­fe­r­e­n­ciu­li r­e­Jimis Se­qmn­a qve­yn­is

e­r­T r­ome­lime­ r­e­gion­Si zr­dis socialu­r­ u­Tan­aswor­obas qve­yn­is

masStabiT, r­ac momavalSi au­cile­blad iqce­va misi e­kon­omiku­r­i

zr­dis Se­mafe­r­xe­be­l faqtor­ad, r­adgan­ mTavr­obas me­ti saxsr­e­bis

gaRe­ba mou­we­vs gan­aTle­bisa da jan­dacvis sfe­r­oe­bze­, socialu­r­

pr­ogr­ame­bsa da in­fr­astr­u­qtu­r­aze­, r­adgan­ mTlian­i e­kon­omikis

libe­r­alizaciis Se­saZle­blobis xe­lidan­ gaSve­ba pr­odu­qtiu­li

sawar­moo faqtor­e­bis dakar­gvas iwve­vs.

10

Tavisu­fali zon­e­bi xSir­ad iwve­ve­n­ in­ve­sticie­bis ”gaqce­vas”

momijn­ave­ r­e­gion­e­bidan­ da Tavisu­fal zon­e­bSi maT dagr­ove­bas.

amgvar­ad, xe­lovn­u­r­ad Se­qmn­il pr­ivile­gie­bs Se­de­gad mosde­vs in­­

ve­sticie­bis pr­e­ficiti e­r­T r­e­gion­Si da de­ficitis war­moqmn­a

sxva r­e­gion­e­bSi. maSin­ r­ode­sac, e­r­Tgvar­ovan­i, gamWvir­vale­ e­ko­

n­omiku­r­i politikisa da Tavisu­fali bazr­is pir­obe­bSi yve­la

r­e­gion­Si in­ve­sticie­bi Tan­abr­ad gadan­awilde­boda, r­ac u­fr­o op­

timalu­r­ia qve­yn­is e­kon­omiku­r­i in­fr­astr­u­qtu­r­isa da mTlian­i

dovlaTis dagr­ove­bis Tvalsazr­isiT (magaliTad, in­doe­Ti da

u­kr­ain­a).

sapir­ispir­o ar­gu­me­n­tad yove­lTvis moyavT mosazr­e­ba, r­om Ta­

visu­fali in­du­str­iu­li zon­a moizidavs in­ve­sticie­bs da gaz­

r­dis dasaqme­bas, Tu­mca mTe­li qve­yn­is masStabiT gan­xor­cie­le­­

bu­l Se­mdgom libe­r­alizacias gacile­biT me­ti Se­de­gis motan­a

Se­u­Zlia. miT u­me­te­s, r­om C­ve­n­s qve­yan­aSi ar­se­bu­li libe­r­alu­r­i

kan­on­mde­bloba Se­saZloa in­du­str­iu­l zon­aSi e­r­Tgvar­ad, magr­am

Se­dar­e­biT u­mn­iSvn­e­lod gamar­tivde­s. gar­da amisa, spe­cialu­r­i

pr­e­fe­r­e­n­cie­bis min­iWe­ba qve­yn­is e­r­Ti r­ome­lime­ r­e­gion­isaTvis,

C­ve­n­i azr­iT e­r­Tgar­ad e­win­aaRmde­ge­ba sabazr­o pr­in­cips da C­ve­n­i

platfor­midan­ gamomdin­ar­e­ ve­r­ C­aiTvle­ba optimalu­r­ gadawyve­­

tile­bad. magaliTad, r­atom ar­ u­n­da Se­iqmn­as ase­Ti zon­a su­fsa­

Si, baTu­mSi, lagode­xSi an­ sxvagan­? amgvar­i zon­is sawin­aaRmde­­

go zogadad be­vr­i ar­afe­r­i gvaqvs, r­adgan­ac e­s did fiskalu­r­

dan­akar­ge­bs ar­ u­kavSir­de­ba, magr­am migvaC­n­ia, r­om mas ar­c didi

Se­de­ge­bis motan­a Se­u­Zlia da igi sakmaod moZve­le­bu­li, ze­dme­ti

Ron­isZie­baa.

1.1 sa­q­a­rTvelo­s Sesa­ba­misi ka­n­o­n­mdeblo­bisa­ da­ fo­Tis perspeq­-

tivis Sefa­seba­

am n­awilSi Se­ve­cde­biT mimovixiloT foTis in­du­str­iu­li zo­

n­is pe­r­spe­qtive­bis C­ve­n­e­u­li xe­dva r­amde­n­ime­ mn­iSvn­e­lovan­ sakiT­

xTan­ mimar­Te­biT:

11

sa­ga­reo­ va­W­ro­bis wa­xa­liseba­

saqar­Tve­lo sagar­e­o vaWr­obaSi u­kve­ aqtiu­r­adaa C­ar­Tu­li. qve­­

yan­aSi moxsn­ilia tar­ifi impor­tisa da e­qspor­tis yve­la sasaqon­­

lo jgu­fze­, gar­da soflis me­u­r­n­e­obisa da samSe­n­e­blo pr­odu­q­

ciis impor­tisa. am Se­mTxve­vaSi, foTis in­du­str­iu­li zon­is amoq­

me­de­bis dade­biT mxar­e­d gan­vixilavT soflis me­u­r­n­e­obisa da

samSe­n­e­blo pr­odu­qciis Se­saZlo Se­dar­e­biT iafad gadamu­Save­bas

zon­aSi da qve­yan­aSi Se­motan­as, an­ zon­is tr­an­zitad gavliT ga­

damu­Save­bas foTTan­ axlos mde­bar­e­ gu­r­ia­same­gr­e­los r­e­gion­Si.

aqve­ isic gasaTvaliswin­e­be­lia, r­om tar­ifis dr­oe­biT datove­ba

soflis me­u­r­n­e­obis impor­tze­ e­r­Tgvar­ad gamar­Tle­bu­lia imiTac,

r­om msoflioSi je­r­ kide­v su­bsidir­e­bu­l sasoflo­same­u­r­n­e­o sa­

qon­e­lze­, saqar­Tve­loSi saimpor­to tar­ifis datove­ba aaxlove­bs

mas im msoflio fase­bTan­, r­ac aSS­s, iapon­iis, e­vr­okavSir­isa da

sxva qve­yn­e­bis mie­r­ su­bsidir­e­bis gan­u­xor­cie­le­blobis Se­mTxve­­

vaSi iar­se­be­bda. amgvar­ad, soflis me­u­r­n­e­obisaTvis Se­saZloa

foTis zon­a iyos e­r­Tgvar­ad dade­biTi Se­de­gis momtan­i (Tu­mca

ar­acalsaxad, r­adgan­ ase­Ti Se­de­gis miRe­ba Se­iZle­boda tar­ifis

gau­qme­biT mTe­li qve­yn­is masStabiT, gar­da amisa, u­n­da gaviTvalis­

win­oT amJamad damaxin­je­bu­li msoflio fasiT Se­mosu­li pr­odu­q­

ciis u­tar­ifod Se­mosvlis Se­de­gad miRe­bu­li n­e­to dan­akar­gi).

zogagad, ase­Ti zon­a saqar­Tve­los e­qspor­ts didad ve­r­ waad­

ge­ba, r­adgan­ qar­Tu­li e­qspor­tis war­u­mate­bloba dakavSir­e­bu­lia

miwode­bis siRr­mise­u­l pr­oble­me­bTan­, r­ac amgvar­i Ron­isZie­be­biT

ve­r­an­air­ad ve­r­ moixsn­e­ba. statistikis de­par­tame­n­tisa da saba­

Jo de­par­tame­n­tis mon­ace­me­bze­ dayr­dn­obiT, saqar­Tve­los sagar­e­o

savaWr­o de­ficiti Tan­daTan­ Rr­mavde­ba vaWr­obis pir­obe­bis gau­­

ar­e­se­bis fon­ze­ (qar­Tu­li e­qspor­tis e­r­Te­u­lis fasis far­doba

impor­tis e­r­Te­u­lis fasTan­ 2006 we­ls 0.49­dan­ 2007 we­ls Se­saba­

misad 0.43­mde­ Se­mcir­da da samwu­xar­od, gau­ar­e­se­bis te­n­de­n­ciiT

xasiaTde­ba dRe­sac).

1�

fo­Tis - ro­go­rc sa­erTa­So­riso­ sa­tra­n­zito­ q­a­la­q­is ga­n­viTa­-

reba­

in­du­str­iu­l zon­aSi Tavisu­fali sawyobis mowyobis n­e­bar­Tva

gvafiqr­e­bin­e­bs, r­om aRn­iSn­u­li in­iciativis avtor­e­bs n­avar­au­de­vi

aqvT foTis sae­r­TaSor­iso satr­an­zito ce­n­tr­ad gadaqce­va. C­ve­n­i

azr­iT, amas mcir­e­ pe­r­spe­qtiva gaaC­n­ia Se­mde­g mosazr­e­be­bze­ day­

r­dn­obiT:

(1) qve­yan­aSi je­r­ kide­v ar­ ar­is sasu­r­ve­li politiku­r­i

stabilu­r­oba (afxaze­Tis kon­fliqti), r­ac sr­u­liad au­cile­­

be­li, Tu­mca ar­asakmar­isi pir­obaa ase­Ti ce­n­tr­is fu­n­qcion­i­

r­e­bisaTvis;

(2) saqar­Tve­los cu­di me­zo da makr­omde­bar­e­oba da da­

Sor­e­ba msxvili safin­an­so da in­du­str­iu­li ce­n­tr­e­bidan­.

foTi e­r­Tgvar­ad sain­te­r­e­soa me­zobe­li qve­yn­e­bisaTvis (som­

xe­Ti, aze­r­baijan­i, Se­saZloa Su­a azia), Tu­mca sae­Wvoa C­in­e­Tis,

in­doe­Tis, e­vr­opisa da sxva qve­yn­e­bisa Tu­ r­e­gion­e­bis mie­r­

Zir­iTadad saqar­Tve­los gziT tvir­Te­bis tr­an­zitis gan­xor­­

cie­le­bis pe­r­spe­qtiva. aRn­iSn­u­l mosazr­e­bas aZlie­r­e­bs is

te­n­de­n­cia, r­om n­avTobze­ fase­bis zr­dam gazar­da sazRvao

fr­axte­bis fasi da C­ake­tili Savi zRvidan­ tvir­Tis masob­

r­ivi gadatan­is pe­r­spe­qtiva mokle­vadian­ da saSu­alovadian­

pe­r­spe­qtivaSi sae­Wvoa. savar­au­dod, 50­dRian­i pr­ogr­amis in­i­

ciativis avtor­e­bi kar­gad icn­obe­n­ du­bais gamocdile­bas,

r­ome­lic ase­Ti satr­an­zito ce­n­tr­ia da r­ome­lSic foTis

Se­moTavaze­bu­l pr­ivile­gie­bTan­ (moge­bis gadasaxadidan­ ga­

Tavisu­fle­ba, moge­bis sr­u­li r­e­patr­iacia) Se­dar­e­biT n­ak­

le­b Tavisu­fle­bas an­iWe­bs u­cxoe­l in­ve­stor­e­bs (maT ar­

Se­u­ZliaT zon­aSi ar­se­bu­li sawar­moe­bis aqciaTa pake­tis u­b­

r­alo u­mr­avle­sobis floba). magr­am miu­xe­davad amisa, du­bai

sain­te­r­e­soa imiT, r­om su­l r­amde­n­ime­ ase­u­l kilome­tr­Si

mde­bar­e­obs miliar­dn­axe­vr­ian­i samomxmar­e­blo bazar­i, mdi­

dar­i n­avTobiTa da sxva bu­n­e­br­ivi r­e­su­r­se­biT;

1�

(3) foTis obie­qtu­r­i n­aklovan­e­baa misi por­tis Se­dar­e­­

biT wyalmar­C­xi akvator­ia. e­s sisu­ste­a kon­ku­r­e­n­te­bTan­

Se­dar­e­biT (n­ovor­osiiski, an­apa, sadac mimdin­ar­e­obis por­­

tis gan­axle­ba, Tu­r­qe­Tis mcir­e­ por­te­bi). akvator­iis gaR­

r­mave­ba se­r­iozu­l in­ve­sticie­bs moiTxovs. me­­20 sau­ku­n­is

90­ian­ wle­bSi, don­or­Ta mxr­idan­ gamoixata foTis por­tis

in­fr­astr­u­qtu­r­is gan­axle­bis in­te­r­e­si (mag. iapon­iis mTav­

r­oba). dazu­ste­bas moiTxovs, gamoiye­n­a Tu­ ar­a saqar­Tve­los

mTavr­obam an­alogiu­r­i Se­saZle­blobe­bi da mimar­Ta Tu­ ar­a

u­kan­askn­e­l pe­r­iodSi don­or­e­bs am mizn­iT kon­ce­siu­r­i fi­

n­an­su­r­i saxsr­e­bis mosapove­blad? Tavad du­baiSi ar­abTa

gae­r­Tian­e­bu­li saamir­oe­bis mTavr­obam ke­r­Zo kapitalis mo­

zidvamde­ in­fr­astr­u­qtu­r­aSi mr­avalmiliar­dian­i in­ve­sti­

cia gan­axor­cie­la. samwu­xar­od, Se­moTavaze­bu­li pake­tidan­

ar­ ar­is cn­obili, apir­e­bs Tu­ ar­a foTis in­fr­astr­u­qtu­r­aSi

fu­lis daban­de­bas saqar­Tve­los mTavr­oba?

(4) kome­r­ciu­li in­fr­astr­u­qtu­r­isa da satr­an­spor­to in­­

du­str­iis C­an­asaxovan­i mdgomar­e­oba. statistikis de­par­ta­

me­n­tis masale­bze­ dayr­dn­obiT ir­kve­va, r­om 1996 wlidan­ 2005

wlamde­ saqar­Tve­los sazRvao tr­an­spor­tis tvir­Tbr­u­n­va

650 aTasi ton­idan­ 24 aTas ton­amde­ Se­mcir­da (aRn­iSn­u­li

ar­ iTvaliswin­e­bs n­avTobte­r­min­ale­bis tvir­Tbr­u­n­vas). gar­­

kve­u­li gamococxle­ba Se­in­iSn­e­ba 2006 we­ls, r­oca sazRvao

tvir­Tbr­u­n­vam 40 aTas ton­as miaRwia, magr­am sae­r­TaSor­iso

ce­n­tr­ad foTis gadaqce­va tvir­Tbr­u­n­vis 500 je­r­ad zr­das

main­c u­n­da gu­lisxmobde­s, r­ac me­tad sae­Wvod gve­C­ve­n­e­ba me­­

zobe­li qve­yn­e­bis sakmaod su­sti e­kon­omiku­r­i pote­n­cialis

gaTvaliswin­e­biTac. sazRvao tr­an­spor­tis wili saqar­Tve­­

los mTe­ls tvir­Tbr­u­n­vaSi 0.1 pr­oce­n­ts ar­ aRe­mate­ba. mig­

vaC­n­ia, r­om siRar­ibis dasaZle­vad mizan­Se­won­ili iqn­e­boda

mTavr­obas foTSi ge­mTSe­mke­Te­be­li dar­gis pe­r­spe­qtive­bze­

– r­o­go­r­c dasaqmebis alter­natiul wyar­o­ze – gaemax­v­ilebi­

n­a yu­r­adRe­ba. aRn­iSn­u­li Ron­isZie­ba lokalu­r­i mn­iSvn­e­lo­

bis dade­biTi e­fe­qtis momtan­i main­c iqn­e­ba.

1�

in­vesticiebisa­ da­ teq­n­o­lo­giebis mo­zidva­ wa­rmo­ebis wa­xa­li-

sebisa­Tvis

mar­Talia foTis in­du­str­iu­li zon­a se­r­iozu­l Se­RavaTe­bs

hpir­de­ba in­ve­stor­e­bs (moge­bis gadasaxadidan­ da dRg­sgan­ gaTa­

visu­fle­ba, moge­bis r­e­patr­iacia da sxva), n­akle­bad sar­wmu­n­od

migvaC­n­ia msxvili sae­r­TaSor­iso kapitalis dain­te­r­e­se­ba aRn­iS­

n­u­li zon­iT. in­du­str­iu­li zon­is C­amoyalibe­bis in­iciator­Ta

mon­ace­me­biT Tu­ vimsje­le­bT, aq Se­saqmn­e­li 16 000 samu­Sao adgili

n­amdvilad ve­r­ moizidavs se­r­iozu­l tr­an­sn­acion­alu­r­ kor­po­

r­acie­bs, gan­saku­Tr­e­biT saqar­Tve­los mwir­i gasaRe­bisa da ar­as­

tr­u­qtu­r­ir­e­bu­li samu­Sao Zalis bazr­e­bis, kome­r­ciu­li da safi­

n­an­so in­fr­astr­u­qtu­r­is sisu­stis fon­ze­. migvaC­n­ia, r­om ar­c e­r­Ti

qve­yn­is, ar­c misi r­ome­lime­ r­e­gion­is gan­viTar­e­baSi gadamwyve­t

r­ols ar­ asr­u­le­bs sagadasaxado Se­RavaTe­biT pir­dapir­i u­cxou­­

r­i in­ve­sticie­bis mozidva (amas me­tyve­le­bs ir­lan­diisa da slo­

vake­Tis, ase­ve­ sxva qve­yn­e­bis magaliTi). in­ve­sticie­bisa da zr­dis

wyar­oa ise­Ti fu­n­dame­n­tu­r­i e­kon­omiku­r­i maxasiaTe­ble­bi, r­ogor­e­­

bicaa mu­Saxe­li, sakan­on­mde­blo da safin­an­so in­fr­astr­u­qtu­r­e­bi,

r­omle­bic qve­yan­aSi ar­asakmar­isad ar­is gan­viTar­e­bu­li. amgvar­ad,

Tu­ TviT zon­is Sign­iT moRvawe­ pote­n­ciu­r­i in­ve­stor­i mar­Tlac

miiRe­bs gar­kve­u­l moge­bas, foTis mimde­bar­e­ r­e­gion­e­bze­ e­s n­akle­­

bad aisaxe­ba. gamon­akliss Se­saZloa, u­Zr­avi qon­e­bis fase­bis sava­

r­au­do zr­da war­moadge­n­de­s, r­ac ar­ar­acion­alu­r­i molodin­e­biT

iqn­e­ba gamowve­u­li. Tu­mca am u­kan­askn­e­lma Se­iZle­ba gar­kve­u­lad

gau­advilos adgilobr­iv mosaxle­obas saban­ko se­sxe­bis xe­lmi­

sawvdomoba dasagir­ave­be­li u­Zr­avi qon­e­bis Rir­e­bu­le­bis zr­dis

gamo.

aRsan­iSn­avia, r­om in­du­str­iu­l zon­aSi moqme­di kan­on­mde­bloba

gu­lisxmobs masSi moqme­d su­bie­qtTa saqmian­obisaTvis saxe­lmwi­

fo moxe­le­Ta gamoyofas, r­ac damate­biT biu­r­okr­atiu­l r­gols

qmn­is. am biu­r­okr­atiu­li r­golis sidide­ da e­fe­qtian­oba didwi­

lad gan­sazRvr­avs zon­is e­fe­qtu­r­ fu­n­qcion­ir­e­basac. aRn­iSn­u­li

gar­kve­u­li Se­saZle­blobe­bTan­ e­r­Tad, ase­ve­ gar­kve­u­li safr­Txe­e­­

1�

bis Se­mcve­lic ar­is ar­asakmar­isi gamWvir­valobisa da e­fe­qtian­o­

bis ku­TxiT.

daskvn­is saxiT, foTSi in­du­str­iu­li zon­is Se­qmn­a Se­saZloa

gar­kve­u­li dade­biTi Se­de­ge­bis momtan­i gamodge­s qalaqisaTvis,

Tu­mca qve­yn­is masStabiT mas ve­r­ e­qn­e­ba ar­se­biTi pozitiu­r­i sar­­

ge­be­li. Se­sabamisad, mTavr­obis mie­r­ Se­moTavaze­bu­li cvlile­be­­

bis pake­tSi, ase­Ti zon­is, r­ogor­c dr­oe­biTi Ron­isZie­bis Se­moRe­ba,

e­r­Tgvar­ad ze­dme­tad migvaC­n­ia. mis r­ols siRar­ibis daZle­vis

Tvalsazr­isiT vafase­bT r­ogor­c n­awilobr­iv e­fe­qtu­r­s, xolo mi­

si far­To e­kon­omiku­r­i pe­r­spe­qtive­bi sae­Wvod migvaC­n­ia.

2. spe­cialu­r­i ar­asabiu­je­to­

fo­n­de­bis Se­q­mn­a

spe­cialu­r­i ar­asabiu­je­to fon­de­bi, r­ogor­c we­si, iqmn­e­ba bu­­

n­e­br­ivi r­e­su­r­se­biT mdidar­ qve­yn­e­bSi, r­ome­lTa sae­qspor­to da

Se­sabamisad, sabiu­je­to Se­mosavle­bis mn­iSvn­e­lovan­i n­awili maTi

gayidviT miRe­bu­li Se­mosavle­biT ivse­ba. spe­cialu­r­i fon­de­bi

ase­ve­ saxe­lmwifo r­e­su­r­se­bis dr­oe­biT dazogvisTvis iqmn­e­ba, r­a­

Ta isin­i momavalSi pr­ior­ite­tu­li pr­ogr­amu­li mimar­Tu­le­be­biT

gaixar­jos.

u­kan­sakn­e­li pe­r­iodSi, r­oca saxe­ze­a n­avTobsa da sxva amowu­r­­

vad bu­n­e­br­iv r­e­su­r­se­bze­ fase­bis n­axtomise­bu­r­i zr­da, ase­Ti ti­

pis fon­de­bma sakmao popu­lar­oba moipova. spe­cialu­r­i fon­de­bis

Se­qmn­a gan­pir­obe­bu­lia Se­mde­gi or­i motiviT: (1) bu­n­e­br­iv r­e­su­r­­

se­bze­ fase­bis me­r­ye­obiT gamowve­u­li dan­akar­ge­bis Se­msu­bu­qe­ba

(2) amowu­r­vadi bu­n­e­br­ivi r­e­su­r­se­bis dazogvis su­r­vili, r­ogor­c

we­si, bu­n­e­br­ivi r­e­su­r­se­bis fase­bi in­var­ian­tu­lia zogadad e­kon­o­

miku­r­ ciklTan­, r­ac imas n­iSn­avs, r­om sabiu­je­to pr­oce­sSi pr­aq­

tiku­lad Se­u­Zle­be­lia am fase­bis me­r­ye­obis pr­ogn­ozir­e­ba da ma­

Ti mibma makr­oe­kon­omiku­r­i politikis Zir­iTad mimar­Tu­le­be­bTan­.

gar­da amisa, bu­n­e­br­iv r­e­su­r­se­bze­ fase­bis me­r­ye­obasTan­ dakavSi­

r­e­bu­li n­e­gatiu­r­i Soke­bi u­kidu­r­e­sad ar­Tu­le­bs valu­tis ku­r­­

sis mar­Tvas da u­ar­yofiTad aisaxe­ba sagadamxde­lo balan­sze­.

1�

swor­e­d amitom, calke­u­l qve­yn­e­bi Tavian­Ti makr­oe­kon­omiku­r­i po­

litikis in­str­u­me­n­te­bis n­awilad spe­cialu­r­ fon­de­bs miiC­n­e­ve­n­.

miu­xe­davad imisa, r­om Se­moTavaze­bu­l sakan­on­mde­blo pake­tSi

mTavr­oba ar­sad miu­TiTe­bs, r­om spe­cialu­r­i fon­de­bi iqmn­e­ba bu­­

n­e­br­iv r­e­su­r­se­bze­ fase­bis me­r­ye­obiT gamowve­u­li Soke­bis Se­sam­

su­bu­qe­blad (Tu­mca, ase­Ti Soke­bi albaT e­r­T­e­r­Tia pake­tSi n­ax­

se­n­e­bi im gamowve­ve­bs Sor­is, r­omle­bsac qve­yan­am u­n­da u­pasu­xos,

maT Sor­is fon­de­bis Se­qmn­is gziTac), win­a abzacSi swor­e­d ase­Ti

fon­de­bis Se­qmn­is motive­bi mimovixile­T, r­adgan­ac:

(1) dRe­isaTvis msoflios sxvadasxva qve­yan­aSi ar­se­bu­li

spe­cfon­de­bis u­me­te­soba swor­e­d amgvar­i dan­iSn­u­le­bisaa da

maTi mar­Tvis Zir­iTadi pr­aqtiku­li aspe­qte­bi gamoye­n­e­bu­lia

agr­e­Tve­ sxva tipis fon­de­bis mar­TvaSic. sxva tipis an­alo­

giu­r­ fon­dad (saxe­lmwifo r­e­su­r­se­bis dazogva gar­kve­u­li

mizn­e­biT) war­mogvidge­n­ia saqar­Tve­los mTavr­obis mie­r­ Se­­

moTavaze­bu­li Ron­isZie­be­bi;

(2) logiku­r­i iqn­e­ba, Tu­ saqar­Tve­los mTavr­oba moma­

valSi gan­izr­axavs Tan­xe­bis aRn­iSn­u­l fon­dSi dazogvas

swor­e­d bu­n­e­br­iv r­e­su­r­se­bze­ fase­bis me­r­ye­obis gamo, r­ac

momavalSi au­cile­blad gaxde­ba saqar­Tve­los e­kon­omikis

win­svlis gzaze­ ar­se­bu­li se­r­iozu­li gamowve­va, r­adgan­ac

a) mzar­d qar­Tu­l e­kon­omikas saSu­alovadian­ pe­r­iodSi te­q­

n­ologie­bis Zir­e­u­l gan­axle­bamde­ me­ti e­n­e­r­gor­e­su­r­si das­

Wir­de­ba, r­omle­bze­c fasi su­l u­fr­o imate­bs; b) Se­saZloa

e­r­T­e­r­Ti Se­moTavaze­bu­li fon­di (stabilu­r­i gan­viTar­e­bis

fon­di) swor­e­d im mizn­e­biT iyos motivir­e­bu­li, r­ac damaxa­

siaTe­be­lia bu­n­e­br­ivi r­e­su­r­se­bis e­qspor­tze­ damokide­bu­li

qv­eynebisTv­is, o­Ro­nd sapir­ispir­o­ niS­niT – impo­r­tul ener­­

gomatar­e­ble­bze­ fase­bis var­iacie­bis n­e­gatiu­r­i Se­de­ge­bis

dasar­e­gu­lir­e­blad da e­n­e­r­ge­tikis sfe­r­oSi saWir­o in­ve­s­

tir­e­bisaTvis Tan­xe­bis dagr­ove­bisaTvis (e­n­e­r­ge­tikis gan­vi­

Tar­e­bis pr­ior­ite­tu­loba mkafiodaa gacxade­bu­li mTavr­o­

bis in­iciativaTa pake­tSi).

1�

miu­xe­davad imisa, r­om spe­cialu­r­i fon­de­bi biu­je­tisgan­ in­sti­

tu­ciu­r­ad gamijn­u­lia, Tavisi e­kon­omiku­r­i ar­siT isin­i mxolod

sabiu­je­to an­gar­iSe­bia da maTi fu­n­qcie­bi Se­u­Zlia Tavisu­flad

itvir­Tos n­or­malu­r­ma sabiu­je­to pr­oce­sma. miu­xe­davad amisa,

spe­cfon­de­bs im qve­yn­e­bSi, sadac isin­i ar­se­bobs, amar­Tle­be­n­ ar­a

e­fe­qtian­obis, ar­ame­d e­kon­omiku­r­i politikis mizan­Se­won­ilobis

mosazr­e­be­biT. sakmar­isi avton­omiis pir­obe­bSi ase­Tma fon­de­bma

Se­saZloa mar­Tlac daicvan­ saxe­lmwifo r­e­su­r­se­bi u­kon­tr­olo

xar­jvisagan­ Tu­ politiku­r­i kon­iu­n­qtu­r­a did wn­e­xs axor­cie­­

le­bs mTavr­obaze­ xar­je­bis gazr­dis mimar­Tu­le­biT (mag. socia­

lu­r­i xar­je­bi). Tu­mca me­or­e­s mxr­iv, (magaliTad igive­ gadau­de­be­­

li socialu­r­i daxmar­e­bisa Tu­ sxva xar­je­bis dasafin­an­se­blad

asime­tr­iu­li e­kon­omiku­r­i Soke­bis Se­mde­g), am fon­de­bis r­e­su­r­se­­

bis sabiu­je­to pr­oce­sSi C­ar­Tva Se­iZle­ba gar­Tu­lde­s kide­c ma­

Ti in­stitu­ciu­r­i damou­kide­blobis gamo. ase­Ti Sokis albaToba

yove­lTvis maRalia mcir­e­ zomis Ria e­kon­omikis mqon­e­ qve­yn­e­bSi,

maT Sor­is saqar­Tve­loSic.

saqar­Tve­los mTavr­obis mie­r­ Se­moTavaze­bu­li momavali Tao­

be­bisa da stabilu­r­i gan­viTar­e­bis fon­de­bis Se­qmn­is logiku­r­

da se­r­iozu­l ar­gu­me­n­te­bad, C­ve­n­i azr­iT, Se­saZloa mxolod Se­sa­

bamisi kan­on­is (kan­on­i momavali Taobe­bisa da stabilu­r­i gan­vi­

Tar­e­bis fon­de­bis Se­saxe­b) pir­ve­li mu­xlis (a) pu­n­qti miviC­n­ioT,

r­adgan­ Rr­mad var­T dar­wmu­n­e­bu­li, r­om (b), (g), (d) da (e­) pu­n­qte­bis,

r­ogor­c pr­oble­me­bis mogvar­e­ba n­or­malu­r­i sabiu­je­to pr­oce­sis

pir­dapir­i fu­n­qciaa. am Se­mTxe­vaSi, C­ve­n­i midgoma e­myar­e­ba C­ve­n­s

mie­r­ u­kve­ xse­n­e­bu­l pr­in­cips, r­ome­lic e­kon­omiku­r­ cxovr­e­baSi

saxe­lmwifos C­ar­e­vis min­imu­mamde­ dayvan­as gu­lisxmobs. migvaC­n­ia,

r­om fon­de­bis Se­qmn­a damate­biTi biu­r­okr­atiu­li str­u­qtu­r­is C­a­

moyalibe­bis gar­da xe­lSe­saxe­b sar­ge­be­ls qar­Tu­l e­kon­omikas ve­r­

mou­tan­s, miu­xe­davad imisa, r­om kan­on­i iTvaliswin­e­bs maT gamWvir­­

vale­ mar­Tvas. aqve­ aRvn­iSn­avT, r­om Tu­n­dac ise­Ti war­mate­bu­li da

gan­viTar­e­bu­li qve­yn­is pir­obe­bSic ki r­ogor­ic n­or­ve­giaa, ase­Ti

tipis fon­dis ar­se­boba ar­c Tu­ optimalu­r­ Ron­isZie­bd migvaC­n­ia.

n­or­ve­giaSic, sadac Zalian­ maRalia am fon­dis an­gar­iSvalde­bu­­

1�

le­ba da gamWvir­valoba, C­ve­n­i azr­iT, e­s Ron­isZie­ba e­kon­omiku­r­

age­n­te­bs mxolod fsiqologiu­r­ komfor­ts u­qmn­is. r­ac Se­e­xe­ba

r­u­se­Ts, aq fon­de­bis Se­qmn­a pir­dapir­ u­kavSir­de­ba mmar­Tve­lobis

avtor­itar­u­l stilsa da swor­e­d im wn­e­xs xar­je­bis gazr­dis mi­

mar­Tu­le­biT, r­aze­c u­kve­ gvqon­da sau­bar­i. gar­da amisa, r­u­se­TSic

xSir­ad gamoiTqme­ba mosazr­e­be­bi, r­om mr­avalmiliar­dian­i fon­dis

aqtive­bis u­r­isko, magr­am me­tisme­tad dabali momge­bian­obis mqon­e­

ame­r­iku­l saxe­lmwifo qaRalde­bSi gan­Tavse­ba imaze­ be­vr­ad n­ak­

le­b e­fe­qts iZle­va vidr­e­ adgilobr­ivi saqalaqo da sasoflo

in­fr­astr­u­qtu­r­is, ase­ve­ gan­aTle­bisa da jan­dacvis mode­r­n­izaci­

aSi misi in­ve­stir­e­ba moitan­da. savar­au­dod, r­u­se­Tis mTavr­oba

ar­ e­n­doba adgilobr­iv fin­an­su­r­ e­mite­n­te­bs da Tan­xmde­ba be­vr­ad

u­fr­o iafad gan­aTavsos Tan­xe­bi aSS­s fasian­ qaRalde­bSi, r­omle­­

biTac sabolood im qve­yn­is biu­je­tis de­ficiti fin­an­sde­ba. e­s

se­r­iozu­l sain­ve­sticio r­e­su­r­ss akle­bs adgilobr­iv safin­an­so

siste­mas, r­ome­lic iZu­le­bu­lia be­vr­ad u­fr­o mkacr­i pir­obe­biT

ise­sxos fu­li sae­r­TaSor­iso kapitalis bazar­ze­. am magaliTis

ilu­str­aciiT imis Tqma gvin­da, r­om qve­yn­e­bSi sadac ase­Ti fon­di

iqmn­e­ba, mTavr­oba iZu­le­bu­li xde­ba misi aqtive­bi me­tisme­tad kon­­

se­r­vatiu­li midgome­biT mar­Tos. r­ogor­c u­kve­ aRvn­iSn­e­T, ase­Ti

fon­dis Se­qmn­a Se­iZle­ba gamar­Tle­bu­li iyos e­kon­omiku­r­i poli­

tikis taqtiku­r­i mosazr­e­be­biT, magr­am migvaC­n­ia, r­om misi mu­Saoba

ve­r­ iqn­e­ba biu­je­tis mu­Saobaze­ u­fr­o e­fe­qtian­i. e­fe­qtian­oba am

Se­mTxe­vaSi, C­ve­n­i azr­iT gan­isazRvr­e­ba Se­mde­gi or­i par­ame­tr­iT:

(1) gaxar­ju­li saxsr­e­bis r­a n­awili aRwe­vs mizn­obr­iv jgu­fe­bam­

de­; (2) r­ogor­ia am fon­de­bis admin­istr­ir­e­bis xar­je­bis far­doba

mTlian­ xar­je­bTan­. swor­e­d aRn­iSn­u­li mosazr­e­ba u­de­vs safu­Z­

vlad C­ve­n­s an­alizs fon­de­bTan­ mimar­Te­baSi.

u­pir­ve­le­s yovlisa aRsan­iSn­avia, r­om mTavr­obis mie­r­ spe­cia­

lu­r­i fon­de­bis Se­saqmn­e­lad Se­moTavaze­bu­li kan­on­idan­ gamomdi­

n­ar­e­ C­ve­n­Tvis gau­ge­bar­ia, Tu­ r­as n­iSn­avs biu­je­tis ciklu­r­oba.

Tu­ amaSi igu­lisxme­ba is, r­om Se­saZloa biu­je­tSi dr­odadr­o

de­ficiti war­moiqmn­as, amaSi tr­agiku­li ar­afe­r­ia, e­s n­or­malu­r­i

pr­oce­sia yve­la qve­yan­aSi. pr­oble­ma iqmn­e­ba maSin­, r­oca biu­je­tis

1�

de­ficitis sidide­ Se­maSfoTe­be­lia da safr­Txe­s qmn­is mTlian­i

e­kon­omikisaTvis. am pr­oble­mis gamoswor­e­ba Se­saZle­be­lia gon­iv­

r­u­li da an­gar­iSge­bian­i sabiu­je­to politikiT da ar­a amgvar­i

mizn­obr­ivi fon­de­bis Se­qmn­iT, miT u­me­te­s, r­om mTavr­obam war­moad­

gin­a sakan­on­mde­blo cvlile­be­bi pr­oficitu­li biu­je­tis dakan­o­

n­e­bis Se­saxe­b.

saxe­lmwifo biu­je­ts, r­ogor­c me­qan­izms, Tavad gaaC­n­ia e­kon­omi­

kis stabilizator­is fu­n­qcia. ke­r­Zod, bizn­e­s ciklis daRmaval

e­tapze­ mcir­de­ba Se­mosavle­bi, xolo aRmaval e­tapze­ isin­i scil­

de­ba saSu­alo dage­gmil n­iSn­u­ls. imisaTvis, r­aTa e­kon­omiku­r­i

cikli n­akle­bi r­ye­ve­biT xasiaTde­bode­s, saxe­lmwifos Se­u­Zlia

daRmasvlis e­tapze­ gadasaxade­bis Se­mcir­e­ba, xolo bizn­e­s cik­

lis pikze­ gadasaxade­bis gazr­da e­kon­omikis gadaxu­r­e­bis Tavi­

dan­ asacile­blad. C­ve­n­Tvis gau­ge­bar­ia, Tu­ r­a u­ke­Te­s me­qan­izms

gvTavazobs spe­cialu­r­i ar­asabiu­je­to fon­di?

ar­asasu­r­ve­li fiskalu­r­i r­ye­ve­bisgan­ Tavdacvis gzaa e­kon­o­

mikis mu­dmivi mon­itor­in­gi da gamar­Tu­li fiskalu­r­i politika.

libe­r­alu­r­i de­mokr­atiu­li wyobis pir­obe­bSi, r­asac saqar­Tve­lo

mie­swr­afvis, ar­aswor­i fiskalu­r­i politikis gamtar­e­be­li xe­li­

su­fle­ba ar­C­e­vn­e­bs age­bs da mis Se­mde­g mosu­li xe­lisu­fle­ba

aswor­e­bs win­amor­be­dis mie­r­ daSve­bu­l Se­cdome­bs. ar­a gvgon­ia

r­aime­ fon­dis Se­qmn­a politiku­r­i bazr­is e­fe­qtian­ fu­n­qcion­ir­e­­

baze­ u­ke­Te­si me­qan­izmi iyos e­kon­omikis stabilu­r­i gan­viTar­e­bis

xe­lSe­sawyobad.

gar­da amisa, spe­cialu­r­i fon­de­bis mar­Tvis gamocdile­ba miu­Ti­

Te­bs imaze­, r­om isin­i e­fe­qtian­ia im qve­yn­e­bSi, r­omle­bic atar­e­be­n­

mdgr­ad sabiu­je­to politikas da ar­a pir­iqiT. Se­sabamisad, fon­de­­

bis ar­se­boba ki ar­ u­wyobs e­kon­omikis stabilizacias xe­ls, ar­a­

me­d pir­iqiT, e­kon­omikisa da sabiu­je­to politikis stabilu­r­obaa

fon­de­bis war­mate­bu­li fu­n­qcion­ir­e­bis sawin­dar­i. gar­da amisa,

ase­Ti fon­de­bi war­mate­biT fu­n­qcion­ir­e­be­n­ par­lame­n­tis win­aSe­

mTavr­obis maRali an­gar­iSvalde­bu­le­bis Se­mTxve­vaSi. saqar­Tve­­

los mTavr­obis kan­on­is mixe­dviT, fon­die­bis an­gar­iSe­bi saope­r­a­

cio wlis dasr­u­le­bidan­ ar­au­me­te­s sami Tvis Tavze­ war­e­dgin­e­ba

�0

par­lame­n­ts. kan­on­Si ar­sadaa miTiTe­bu­li, r­om par­lame­n­ti amtki­

ce­bs fon­dis biu­je­ts da axor­icie­le­bs misi mar­Tvis mu­dmiv mon­i­

tor­in­gs. ase­Ti for­mu­lir­e­ba C­ve­n­Tvis absolu­tu­r­ad gau­ge­bar­ia,

r­adgan­ac dar­wmu­n­e­bu­li var­T saxe­lmwifo saxsr­e­bis e­r­Tian­i, in­­

te­gr­ir­e­bu­li da gamWvir­vale­ for­miT gan­kar­gvis u­pir­ate­soba­

Si. spe­cialu­r­i fon­de­bis gamotan­a par­lame­n­tisadmi an­gar­iSval­

de­bu­le­bis far­gle­bidan­, C­ve­n­i azr­iT, Se­u­Tavse­be­lia sabiu­je­to

pr­oce­sisa da zogadad e­kon­omiku­r­i gan­viTar­e­bis pr­in­cipe­bTan­.

miTu­me­te­s, r­om momavali Taobe­bis fon­di afxaze­Tisa da samxr­e­T

ose­Tis r­e­abilitaciisaTvisac iqmn­e­ba, Se­sabamisad ar­ ar­se­bobs

r­aime­ win­apir­oba, r­ac xe­ls Se­u­Slida par­lame­n­tis mie­r­ mis mon­i­

tor­in­gs (afxaze­Tisa da samxr­e­T ose­Tis sakiTxe­bTan­ mimar­Te­biT

yve­la politiku­r­i Zala da mTlian­obaSi qar­Tu­li sazogadoe­ba

Se­Tan­xme­bu­l poziciaze­a).

spe­cialu­r­i fon­de­bi moqme­de­bs ame­r­ikis Se­e­r­Te­bu­l State­bsa

da kan­adaSi, magr­am iq e­s in­stitu­te­bi r­e­gion­u­li gan­viTar­e­bis

politikis n­awilia da maTi me­Sve­obiT ce­n­tr­alu­r­i mTavr­oba

gar­kve­u­lwilad iTavisu­fle­bs Tavs r­e­gion­e­bSi ise­Ti tipis sa­

mu­Saoe­bis C­atar­e­bisgan­, r­omlis kompe­te­n­cia mas ar­ gaaC­n­ia. (ma­

galiTad aliaskis Stati aSS­Si, albe­r­tas pr­ovin­cia kan­adaSi).

saqar­Tve­los Se­mTxe­vaSi Se­moTavaze­bu­li fon­de­bis Se­qmn­a gan­­

sazRvr­u­lia ce­n­tr­alu­r­, da ar­a adgilobr­iv don­e­ze­.

gar­da amisa migvaC­n­ia, r­om Se­moTavaze­ba spe­cialu­r­i fon­de­bis

dafu­Zn­e­bis Se­saxe­b qmn­is gar­kve­u­l win­aaRmde­gobas mTavr­obis

axal fiskalu­r­ par­adigmaSi. e­r­Ti mxr­iv, mTavr­oba gamodis pr­o­

ficitu­li biu­je­tis dakan­on­e­bis in­iciativiT, xolo me­or­e­ mxr­iv,

qmn­is ar­asabiu­je­to fon­de­bs, r­ome­lTa Se­mosavle­bis n­awili po­

te­n­ciu­r­ad biu­je­tis Se­mosavle­bi u­n­da yofiliyo.

fon­dis mocu­loba da misi far­doba admin­istr­aciu­l xar­je­b­

Tan­ ase­ve­ pr­oble­mu­r­ad migvaC­n­ia. fon­di sakmar­isad didi u­n­­

da iyos imisaTvis, r­om misi admin­istr­ir­e­bis xar­je­bis far­doba

mTlian­ r­e­su­r­se­bTan­ n­akle­bi iyos vTqvaT biu­je­tis an­alogiu­r­

maC­ve­n­e­ble­bze­. zogadad n­e­bismie­r­ fon­dis, maT Sor­is msxvili sa­

e­r­TaSor­iso fon­de­bis se­r­iozu­li pr­oble­maa maTi e­fe­qtian­oba

�1

da e­fe­qtian­i fu­n­qcion­ir­e­bisaTvis wamaxalise­be­li stimu­le­bis

swor­i Se­r­C­e­va. samwu­xar­od, amaze­ ar­afe­r­ia n­aTqvami kan­on­Si.

ase­ve­ gau­ge­bar­ia, Tu­ r­a kavSir­Sia spe­cialu­r­i fon­de­bis Se­qmn­a

saqar­Tve­los, r­ogor­c globalu­r­i safin­an­so ce­n­tr­is C­amoyali­

be­basTan­. am mizn­is misaRwe­vad, ze­moxse­n­e­bu­li fon­dis Se­qmn­a r­ai­

me­ mn­iSvn­e­lobis matar­e­blad ar­ migvaC­n­ia.

momavali Taobe­bisa da stabilu­r­i gan­viTar­e­bis fon­de­bis mar­­

Tvis sqe­me­bis Se­fase­bisagan­ Tavs vikave­bT, r­adgan­ac migvaC­n­ia

r­om C­ve­n­s xe­lT ar­se­bu­li in­for­macia ar­asakmar­isia maTi mar­­

Tvis Se­moTavaze­bu­li sqe­mis Se­safase­blad, miu­xe­davad imisa, r­om

ase­Ti fon­de­bis mar­TvaSi sazogadoe­baSi cn­obili pir­e­bisa da

e­r­ovn­u­li ban­kis C­ar­Tvis pr­aqtika kar­gadaa cn­obili sazRvar­ga­

r­e­Tac.

axal fiskalu­r­ par­adigmasTan­ dakavSir­e­biT gavr­ce­le­bu­l

mTavr­obis pr­e­ze­n­taciaSi1 n­aTqvamia, r­om 2009 wlis bolosaTvis

fon­de­bSi dagr­ovde­ba 1.5­2 miliar­di dolar­i. Tu­ ase­Ti Tan­xe­bis

dagr­ove­ba mar­Tlac Se­saZle­be­lia, r­atom ar­is saWir­o fon­de­bis

Se­qmn­a, miT u­fr­o r­om saqar­Tve­loSi r­amde­n­ime­ we­lia ar­se­bobs

gr­Ze­lvadian­i e­kon­omiku­r­i politikis Se­mu­Save­bis xe­lSe­mwyobi

,,Zir­iTadi mon­ace­me­bisa da mimar­Tu­le­bis” doku­me­n­ti, ase­ve­ “xar­­

je­bis saSu­alovadian­i dage­gmvis C­ar­C­o doku­me­n­ti”. am doku­me­n­te­­

bis me­Sve­obiTa da n­or­malu­r­i sabiu­je­to pr­oce­siT mTavr­obas

savse­biT xe­le­wife­ba sasu­r­ve­li gr­Ze­lvadian­i Ron­isZie­be­bis da­

fin­an­se­ba.

3. saq­ar­Tve­lo­s mTavr­o­bis

sagadasaxado­ in­iciative­bi

mTavr­obis mie­r­ Se­moTavaze­bu­li sagadasaxado tvir­Tis Se­mci­

r­e­biske­n­ mimar­Tu­li Ron­isZie­be­bi C­ve­n­Tvis sr­u­liad misaRe­bia.

am Ron­isZie­bis fiskalu­r­i u­ku­e­fe­qtis saSiSr­oe­ba mokle­vadian­

1 saqar­Tve­los mTavr­obis pr­e­ze­n­tacia: saqar­Tve­los kan­on­i safi­n­an­so se­qtor­is globalu­r­i kon­ku­r­e­n­tu­n­ar­ian­obis Se­saxe­b. saqar­T­ve­los mTavr­oba, ian­var­i 2008.

��

pe­r­iodSi mxolod is ar­is, r­om saxe­lmwifo ve­r­ moaxe­r­xe­bs sava­

r­au­dod mzar­di socialu­r­i xar­je­bis dafin­an­se­bas. vime­dovn­e­bT,

r­om amas adgili ar­ e­qn­e­ba imis gamo, r­om saxe­lmwifo biu­je­tSi

Se­mosavle­bis e­kon­omikis gan­viTar­e­bis te­mpze­ swr­afad zr­dis

te­n­de­n­cia, su­l mcir­e­, saSu­alovadian­ pe­r­iodSi main­c Se­n­ar­C­u­n­de­­

ba. moge­bis gadasaxadis Se­mcir­e­ba saqar­Tve­loSi su­l axlaxan­

gan­xor­cie­lda. C­ve­n­i azr­iT, e­s Zalze­ dr­ou­li da gon­ivr­u­li

n­abiji iyo, r­ome­lsac ar­ mohyolia xe­lSe­saxe­bi fiskalu­r­i dan­a­

kar­gi. gar­da amisa, saSe­mosavlo gadasaxadis 25%­dan­ 15%­mde­ Se­m­

cir­e­ba momde­vn­o wle­bSi saojaxo me­u­r­n­e­obe­bs Se­mosavle­bis mn­iS­

vn­e­lovan­i n­awilis dazogvisa Tu­ moxmar­e­bisaTvis gamoye­n­e­bis

saSu­ale­bas misce­ms. ase­Ti Ron­isZie­ba gamar­Tle­bu­lad migvaC­n­ia

msoflio bazar­ze­ ar­se­bu­li kon­iu­n­qtu­r­is gamoc. savar­au­dod,

u­axloe­s wle­bSi su­r­saTsa da sawvavze­ fase­bis din­amika kvlavac

ar­axe­lsayr­e­li iqn­e­ba, ase­ r­om, saqar­Tve­los mosaxle­obas u­n­da

mie­ce­s gar­kve­u­li man­e­vr­is Se­saZle­bloba.

pozitiu­r­i mn­iSvn­e­lobis Ron­isZie­be­bia pr­oce­n­te­bsa da divi­

de­n­de­bze­ gadasaxadis gan­u­le­ba. divide­n­dze­ gadasaxadi pr­aqti­

ku­lad kapitalisa da pr­odu­qtiu­li saqmian­obis or­magad dabe­g­

vr­as n­iSn­avs. miu­xe­davad amisa, mTavr­obam maqsimalu­r­i sifr­Txi­

le­ u­n­da gamoiC­in­os imisTvis, r­om mis mie­r­ gan­xor­cie­le­bu­li sa­

gadasaxado Ron­isZie­be­bi mxar­daWe­r­il iqn­as safin­an­so sfe­r­oSi

gadadgmu­li se­r­iozu­li n­abije­biT, r­ac qve­yan­aSi sain­ve­sticio

fon­de­bis, Tan­ame­dr­ove­ sape­n­sio siste­mis da e­gr­e­T wode­bu­li

”gr­Ze­li fu­lis” sxva wyar­oe­bis aqtiu­r­i C­amoyalibe­bis xe­lSe­w­

yobaSi u­n­da aisaxos (aRn­iSn­u­l sakiTxe­bs Se­mdgom gan­vixilavT).

im Se­mTxve­vaSi, Tu­ saqar­Tve­loSi Se­yovn­de­ba fin­an­su­r­i bazr­is

am u­mn­iSvn­e­lovan­e­si kompon­e­n­te­bis for­mir­e­ba, qve­yn­is biu­je­ti Se­­

saZloa u­dide­si wn­e­xis qve­S aRmoC­n­de­s socialu­r­i xar­je­bis ga­

sawe­vad, r­ac moiTxovs gadasaxade­bis modifikacias gan­akve­Te­bis

gazr­dis ku­TxiT. ase­ve­, migvaC­n­ia, r­om gadasaxade­bis gan­akve­Te­bis

libe­r­alizacia albaT u­kve­ miu­axlovda Tavis bu­n­e­br­iv zRvar­s

da momaval mTavr­obas amgvar­i man­e­vr­is saSu­ale­ba u­kve­ aRar­ e­q­

n­e­ba. aman­ Se­saZloa se­r­iozu­li pr­oble­ma Se­u­qmn­as momaval mTav­

��

r­obe­bs gadasaxade­bis gazr­dis mimar­Tu­le­biT, r­ac libe­r­alu­r­

sagadasaxado siste­mas Se­C­ve­u­li bizn­e­sisa da mosaxle­obis mxr­i­

dan­ did win­aaRmde­gobas gamoiwve­vs. gar­da amisa, dazogvisa da in­­

ve­stir­e­bis xe­lSe­mwyobis e­kon­omiku­r­i politikis zogad war­mate­­

baze­ didad iqn­e­ba damokide­bu­li Se­moTavaze­bu­li cvlile­be­bis

Se­de­ge­bi. mTavar­ia ar­ moxde­s ise­, r­om saSe­mosavlo gadasaxadis

Se­mcir­e­bam gamoiwvios moxmar­e­bis u­fr­o swr­afi zr­da, vidr­e­ da­

zogvisa da in­vse­ticie­bisa. e­s Tavis mxr­iv, gazr­dis impor­ts da

safr­Txe­s Se­u­qmn­is sagadamxde­lo balan­sis stabilu­r­obas.

saqar­Tve­los mTavr­obis mie­r­ Se­moTavaze­bu­li divide­n­de­bisa

da pr­oce­n­te­bis gadasaxade­bis gan­u­le­biT mn­iSvn­e­lovan­ad isar­­

ge­ble­be­n­ msxvili sawar­moe­bi, r­ome­lTa saqmian­oba u­Su­alodaa

dakavSir­e­bu­li sasar­ge­blo wiaRise­u­lis mopove­basTan­. mar­Ta­

lia saqar­Tve­lo sasar­ge­blo wiaRise­u­liT Zalze­ mdidar­i ar­

ar­is, magr­am mas gaaC­n­ia fe­r­adi liTon­e­bisa da mar­gan­e­cis mn­iS­

vn­e­lovan­i sabadoe­bi, r­ome­lTa damu­Save­ba swor­e­d ase­Ti tipis

saqmian­obas gan­e­ku­Tvn­e­ba da r­omle­bic se­r­iozu­li sae­qspor­to

Se­mosavle­bis wyar­oa. gar­da amisa, saqar­Tve­los se­r­iozu­li hid­

r­oe­n­e­r­ge­tiku­li pote­n­cialic gaaC­n­ia. n­avTobze­ fase­bis ar­asta­

bilu­r­obis pir­obe­bSi r­ogor­c sae­r­TaSor­iso, ise­ adgilobr­ivi

kapitalisTvis e­n­e­r­ge­tikis e­s sfe­r­o u­saTu­od gaxde­ba mimzidve­­

li. n­avTobsa da gazze­ fase­bis zr­dam u­n­da gazar­dos qar­Tu­li

hidr­oe­n­e­r­ge­tiku­li r­e­su­r­se­biT sae­r­TaSor­iso kapitalis dain­­

te­r­e­se­ba, r­asac xe­ls Se­u­wyobs mTavr­obis e­s sagadasaxado in­ici­

ativa. Tu­mca, 500 milion­i dolar­is e­vr­oobligacie­bis pozitiu­r­i

gavle­n­a e­n­e­r­ge­tikaze­ da misi ar­gu­me­n­tacia sae­Wvod migvaC­n­ia sa­

gadasaxado in­iciativisgan­ gan­sxvave­biT, r­ome­lic siste­mu­r­i da

gon­ivr­u­li gadawyve­tile­baa.

gar­da amisa, divide­n­de­bsa da pr­oce­n­te­bze­ gadasaxadis gan­u­le­­

ba Se­saZloa gamar­Tle­bu­li iyos Se­mde­gi mosazr­e­be­biTac:

(1) e­s se­r­iozu­l dade­biT Se­de­gs iZle­va ise­T qve­yan­aSi,

r­ome­lSic an­ u­kve­ moe­din­e­ba, an­ mosalodn­e­lia pir­dapir­i

��

u­cxou­r­i in­ve­sticie­bis didi n­akade­bis mozidva. saqar­Tve­­

loSi u­kve­ fiqsir­de­ba se­r­iozu­li kapilatldabn­ade­ba, gan­­

saku­Tr­e­biT saban­ko se­qtor­Si. savar­au­dod, divide­n­de­bsa

da pr­oce­n­te­bze­ gadasaxade­bis gan­u­le­ba fiskalu­r­ Se­mosav­

le­bze­ mar­gin­alu­r­i gavle­n­as moaxde­n­s, magr­am amis mr­aval­

je­r­adi kompe­n­sir­e­ba moxde­ba dazogvisa da in­ve­stir­e­bis

Se­de­gad Se­qmn­ili dovlaTis ar­apir­dapir­i dabe­gvr­iT.

(2) moxmar­e­bis dabe­gvr­aze­ or­ie­n­tir­e­bu­li sagadasaxado

siste­ma, (saqar­Tve­los sagadasaxado siste­ma ki swor­e­d aqe­T­

ke­n­ midis) moge­bis, divide­n­de­bisa da saSe­mosavlo gadasa­

xadis amoRe­baze­ or­ie­n­tir­e­bu­li siste­misgan­ gan­sxvave­biT

be­vr­ad u­fr­o n­akle­b admin­istr­aciu­l r­e­su­r­ss moiTxovs.

e­s gan­saku­Tr­e­biT mn­iSvn­e­lovan­ia ise­Ti gar­damavali tipis

e­kon­omikisaTvis r­ogor­c saqar­Tve­loa. qve­yn­is xe­lisu­fle­­

ba savse­biT war­mate­biT axe­r­xe­bs saxe­lmwifo e­kon­omiku­r­i

pr­ogr­ame­bis dafin­an­se­bas moxmar­e­bis dabe­gvr­is xar­jze­, r­a­

sac pir­dapir­i fiskalu­r­i e­fe­qtis gar­da sxva e­fe­qte­bic

axasiaTe­bs: sagadamxde­lo balan­sis gawon­aswor­e­ba, dazogvi­

sa da in­ve­sticie­bis waxalise­ba da sxva. samomavlod, mcir­e­

zomis Ria e­kon­omikisaTvis moxmar­e­bis dabe­gvr­aze­ or­ie­n­ti­

r­e­bu­li sagadasaxado siste­ma be­vr­ad u­fr­o qme­diTi da e­fe­q­

tian­i gaxde­ba msoflioSi mimdin­ar­e­ kapitalisa da Sr­omiTi

r­e­su­r­se­bis mobilu­r­obis zr­dis fon­ze­.

4. saq­ar­Tve­lo­s safin­an­so­

ce­n­tr­ad gadaq­ce­vis pe­r­spe­q­tiva

saqar­Tve­los mTavr­obis mie­r­ gacxade­bu­li su­r­vili safin­an­­

so ce­n­tr­ad C­amoyalibe­bisa, C­ve­n­i azr­iT, e­fu­Zn­e­ba qve­yn­is ”sa­

gadasaxdo n­avsadgu­r­ad” gadaqce­vis ide­as. msoflioSi sakmaod

be­vr­ia ise­Ti iu­r­isdiqcie­bis r­icxvi, r­omle­bic sae­r­TaSor­iso

kapitalisaTvis Se­qmn­ili xe­lsayr­e­li sagadasaxado r­e­Jimis xar­­

��

jze­ cxovr­obe­n­. saqar­Tve­los mTavr­obis mie­r­ 2008 wlis ian­var­Si

war­modge­n­il pr­ogr­amis pr­e­ze­n­taciaSi moyvan­ilia swor­e­d am iu­­

r­isdiqcie­bis sia. te­r­min­is “iu­r­isdiqcia” gamoye­n­e­bis mize­zia is,

r­om am te­r­itor­ie­bis u­mr­avle­soba damou­kide­be­l saxe­lmwifos

ar­c ki war­moadge­n­s, r­asac Zalze­ didi mn­iSvn­e­loba aqvs im Tval­

sazr­isiT, r­om maT ar­a aqvT Tavian­Ti valu­ta an­u­ damou­kide­be­li

fu­lad­sakr­e­dito politika (am sakiTxs qve­moT Se­ve­xe­biT).

for­malu­r­ad saqar­Tve­los sagadasaxado r­e­Jimi dRe­isaTvis

e­r­T­e­r­Ti yve­laze­ libe­r­alu­r­ia r­e­gion­Si, r­asac au­cile­blad

moyve­ba u­cxou­r­i in­ve­sticie­bis zr­da, r­adgan­ac “sagadasaxado

n­avsadgu­r­is” statu­si (an­u­ libe­r­alu­r­i sagadasaxado r­e­Jimi)

maRal kor­e­laciaSia in­ve­sticie­bis Se­mosvlasTan­ qve­yan­aSi. “sa­

gadasaxado n­avsadgu­r­ad” gadaqce­vis pr­oce­sSi, an­u­ ise­T Se­mTxve­­

vaSi, r­ode­sac mcir­de­ba kor­por­aciu­li gadasaxadis gan­akve­Ti,

qve­yan­aSi swr­afad izr­de­ba u­cxou­r­i in­ve­sticie­bi. saSu­alod, mo­

ge­bis gadasaxadis 10 pu­n­qtiT Se­mcir­e­ba in­ve­sticiaTa mocu­lo­

bis 6%­ian­ zr­das gu­lisxmobs.

dRe­isaTvis, msoflios or­asze­ me­ti qve­yn­idan­ daaxloe­biT 60

“sagadasaxado n­avsadgu­r­is” statu­siT sar­ge­blobs. ase­Ti tipis

qve­yn­e­bi Se­mde­gi Tavise­bu­r­e­be­biT xasiaTde­bian­:

(1) maTi absolu­tu­r­i u­mr­avle­sobis mosaxle­obis r­icxov­

n­oba milion­ze­ n­akle­bia (mag. kaiman­is ku­n­Zu­le­bi, lixte­n­­

Ste­in­i, an­dor­a, sxva mcir­e­ zomis ku­n­Zu­lovan­i da an­klavu­r­i

saxe­lmwifoe­bi), Tu­mcaRa amave­ statu­sis qve­yn­e­bs Se­iZle­ba

mivaku­Tvn­oT liban­i, kvipr­osi, Sve­icar­ia, ir­lan­dia da n­ide­r­­

lan­de­bi, r­omlis e­kon­omiku­r­i pr­ogr­e­sis kavSir­i libe­r­a­

lu­r­ sagadasaxado r­e­JimTan­ sr­u­liad aSkar­aa;

(2) am qve­yn­e­bis mSp e­r­T su­l mosaxle­ze­ mn­iSvn­e­lovn­ad

aRe­mate­ba msoflios saSu­alo da qve­yn­e­bis absolu­tu­r­i u­m­

r­avle­sobis an­alogiu­r­ maC­ve­n­e­ble­bs, magr­am be­vr­i maTgan­i

amave­ dr­os C­amor­C­e­ba e­kon­omiku­r­i gan­viTar­e­bisa da Tan­am­

Sr­omlobis qve­yn­e­bis (OECD) saSu­alo maC­ve­n­e­be­ls;

��

(3) ase­Ti tipis war­mate­bu­l iu­r­isdiqcie­bSi (da ar­a yve­la

maTgan­Si) maRalia saxe­lmwifo mmar­Tve­lobis xar­isxi, r­ac bi­

u­r­okr­atiis simcir­e­Si, kor­u­fciis n­akle­bobaSi, saxe­lmwifos

mie­r­ gawe­u­li momsaxu­r­e­bis e­fe­qtian­obaSi gamoixate­ba.

e­mpir­iu­li kvle­ve­bis Tan­axmad, “sagadasaxado n­avsadgu­r­is”

statu­si yve­laze­ mWidr­odaa dakavSir­e­bli iu­r­isdiqciis mmar­­

Tve­lobis xar­isxTan­ imgvar­ad, r­om mxolod mmar­Tve­lobis maRal

xar­isxs mivyavar­T “sagadasaxado n­avsadgu­r­is” statu­sis mopo­

ve­basTan­, Se­sabamisad, u­cxou­r­i in­ve­sticie­bis zr­dasTan­ da ar­a

pir­iqiT. e­s Se­iZle­ba gamowve­u­li iyos or­i fu­n­dame­n­tu­r­i mize­­

ziT: (1) e­fe­qtu­r­i mTavr­oba cdilobs maqsimalu­r­ad optimalu­r­i

gadawyve­tile­ba miiRos da gaiTvaliswin­os socialu­r­i dacvis,

gan­aTle­bisa da u­safr­Txoe­bis saWir­oe­be­bi; (2) u­cxou­r­i in­ve­sti­

cie­bis mosazidad au­cile­be­lia mTavr­obis mtkice­ gan­zr­axva, r­om

igi gan­u­xr­e­lad daicavs in­ve­stor­Ta in­te­r­e­se­bs da Tan­mimde­vu­­

lad gaatar­e­bs e­kon­omiku­r­i politikis ar­C­e­u­l ku­r­ss.

saqar­Tve­los mTavr­oba sakmao war­mate­biT axe­r­xe­bs e­kon­omiku­­

r­i cxovr­e­bis mar­Tvis optimizacias da amis dastu­r­ad pir­dapir­i

in­ve­sticie­bis mzar­di n­akadic gamodge­ba. gasaTvaliswin­e­be­lia

isic, r­om mTavr­obis mie­r­ C­amoTvlili qve­yn­e­bidan­ saqar­Tve­los

r­e­alobasTan­ mxolod n­ide­r­lan­de­bis, Sve­icar­iisa da ir­lan­diis

magaliTe­bis asocir­e­ba ar­is Se­saZle­be­li. aRn­iSn­u­li qve­yn­e­bi

u­kve­ Zalian­ didi xn­is win­ daadgn­e­n­ e­kon­omikis libe­r­alizacias

gzas da kapitalis didi n­akade­bis Se­mosvlamde­ war­moadge­n­dn­e­n­

sakmaod dive­r­sificir­e­bu­l, Ria e­kon­omike­bs. Se­sabamisad igu­lis­

xme­ba, r­om kapitalis didi n­akade­bis (gan­saku­Tr­e­biT ki saban­ko)

Se­mosvla qve­yan­aSi ar­ ar­is ar­c au­cile­be­li da ar­c sakmar­isi

pir­oba misi swr­afi gan­viTar­e­bisaTvis. e­mpir­iu­li magaliTe­bi, imi­

sa, r­om sagadasaxado Se­RavaTe­bi yove­lTvis gan­msazRvr­e­l r­ols

TamaSobs e­kon­omikis zr­daSi n­akle­bad moipove­ba. magaliTad, sa­

gadasaxo gan­akve­Tis vTqvaT 40­dan­ 30 pr­oce­n­tamde­ Se­mcir­e­ba be­v­

r­ad me­ti e­fe­qtis momtan­ia vidr­e­ 20­dan­ 10­mde­ Se­mcir­e­ba. asve­, qve­­

yan­as Se­iZle­ba hqon­de­s Zalze­ Tavisu­fali sagadasaxado siste­ma,

��

magr­am misi e­kon­omika dar­C­e­s pr­imitiu­l, C­amor­C­e­n­il stadiaze­.

amis magaliTia mTavr­obis pr­e­ze­n­taciis siaSi moxve­dr­ili be­­

lizi, jibu­ti, libe­r­ia da sxve­bi. gar­da amisa, u­cxou­r­i kapitali

Se­gviZlia gaviazr­oT r­ogor­c dazogvis impor­ti. Sida dazogvis

ar­asakmar­isobis pe­r­iodSi misi stimu­lir­e­ba Se­iZle­ba Se­sabamisi

makr­oe­kon­omiku­r­i politikis gatar­e­biT. ase­ve­ ar­ u­n­da dagvaviw­

yde­s, r­om “sagadasaxado n­avsadgu­r­e­bis” mimar­T je­r­ kide­v sakma­

od an­tagon­istu­r­ damokide­bu­le­baSia msoflios didi qve­yn­e­bis

u­mr­avle­soba. magaliTad OECD­s Se­dge­n­ili aqvs “sagadasaxado

n­avsadgu­r­e­bis” ,,Savi sia” r­omle­bSic mon­ako, lixte­n­Stain­i da

C­r­diloe­T kvipr­osi Se­dian­.

r­ac mTavar­ia, sae­r­TaSor­iso kapitalisaTvis gaxsn­ili politi­

kis gatar­e­bas dade­biTTan­ e­r­Tad ar­se­biTi u­ar­yofiTi mxar­e­e­bic

gaaC­n­ia, miT u­me­te­s saqar­Tve­los pir­obe­bSi, r­ome­lic gavle­n­as

ve­r­ axde­n­s sae­r­TaSor­iso sapr­oce­n­to gan­akve­Te­bis for­mir­e­bis

pr­oce­se­bze­. me­ti u­cxou­r­i kapitalis miRe­ba kapitalis sr­u­lyo­

fili mobilu­r­obis pir­obe­bSi me­ti mokle­vadian­i saban­ko in­str­u­­

me­n­te­bis Se­mosvlasac n­iSn­avs. sae­r­TaSor­iso safin­an­so siste­ma­

Si sr­u­lad in­te­gr­ir­e­ba qve­yn­is mon­e­tar­u­l, fiskalu­r­ da safi­

n­an­so siste­mas sr­u­liad axal, be­vr­ad u­fr­o mkacr­ moTxovn­e­bs

u­ye­n­e­bs, r­aze­c qve­moT visau­br­e­bT.

“sagadasaxado n­avsadgu­r­e­bis” u­mr­avle­sobas ar­ gaaC­n­ia valu­­

ta da isin­i am n­iSn­iT gan­sxvavde­bian­ saqar­Tve­losgan­. kapitalis

swr­afi impor­ti da e­qspor­ti did gavle­n­as moaxde­n­s lar­is gac­

vliTi ku­r­sis for­mir­e­baze­.

for­malu­r­ad saqar­Tve­los mcu­r­avi savalu­to ku­r­si aqvs ga­

mocxade­bu­li, Tu­mca dr­odadr­o e­r­ovn­u­li ban­ki mimar­Tavs in­te­r­­

ve­n­cie­bs sasu­r­ve­li gacvliTi ku­r­sis Se­san­ar­C­u­n­e­blad. amgvar­i

”bin­Zu­r­i cu­r­vis” pr­aqtika, r­ome­lic, gar­kve­u­lwilad fiqsir­e­bu­­

li ku­r­sis e­r­T­e­r­T saxe­obadac Se­iZle­ba gan­vixiloT, gavr­ce­le­­

bu­lia msoflios TiTqmis yve­la qve­yan­aSi u­iSviaTe­si gamon­akli­

se­bis gar­da. me­t­n­akle­bad fiqsir­e­bu­li savalu­to ku­r­si misaRe­­

bia saqar­Tve­losTvis, r­ogor­c mcir­e­ zomis Ria e­kon­omikisaTvis,

r­ome­lze­c Zalian­ did gavle­n­as axde­n­s sagar­e­o vaWr­obisa da

��

axla u­kve­ sagar­e­o kapitalis bazr­is kon­iu­n­qtu­r­a. mTavr­obis

mie­r­ qve­yan­aSi u­cxou­r­i kapitalis maqsimalu­r­ad Se­RavaTian­i pi­

r­obe­biT mozidvis xe­lSe­sawyobad aRe­bu­li ku­r­si fu­n­dame­n­tu­r­

makr­oe­kon­omiku­r­ pr­oble­me­bs bade­bs, r­ome­lic ,,Se­u­Zle­be­li same­­

u­lis” pir­obiTaa cn­obili. am postu­latis ar­si imaSi mdgomar­e­­

obs, r­om qve­yan­a, r­ome­lic mTlian­ad in­te­gr­ir­e­bu­lia sae­r­TaSo­

r­iso safin­an­so siste­maSi, ve­r­ moaxe­r­xe­bs e­r­Tdr­ou­lad iqon­ios

fiqsir­e­bu­li savalu­to ku­r­si da damou­kide­be­li fu­lad­sakr­e­­

dito politika. siRar­ibis daZle­vis gzaze­ damdgar­i saqar­Tve­­

losaTvis, C­ve­n­i azr­iT, impe­r­atiu­lia damou­kide­be­li fu­lad­sak­

r­e­dito politikis, r­ogor­c zr­disa da dasaqme­bis xe­lSe­mwyobi

u­mn­iSvn­e­lovan­e­si in­str­u­me­n­tis ar­se­boba. am daSve­biT msoflio

fin­an­su­r­ siste­maSi sr­u­li in­te­gr­aciis, an­u­ kapitalis sr­u­lyo­

fili mobilu­r­obis pir­obe­bSi lar­is gacvliTi ku­r­si ve­r­ iqn­e­­

ba fiqsir­e­bu­li. amJamad, lar­is ku­r­si fiqsir­e­bu­li ar­ ar­is, igi

mar­Tu­lia e­r­ovn­u­li ban­kis mie­r­, magr­am vin­aidan­, dRe­mde­ saqar­­

Tve­los sae­r­TaSor­iso safin­an­so siste­maSi in­te­gr­ir­e­bu­lobis

xar­isxi Se­dar­e­biT dabali iyo, e­r­ovn­u­lma ban­kma 1998 we­ls sa­

gar­e­o r­e­ze­r­ve­bis didi dan­akar­ge­bis miu­xe­davad, main­c Se­Zlo

e­r­ovn­u­li valu­tis ku­r­sis totalu­r­i var­dn­is Tavidan­ acile­ba.

u­kan­askn­e­li aTi wlis gan­mavlobaSi e­r­ovn­u­li ban­kis sar­e­ze­r­vo

pozicia da in­stitu­ciu­r­i pr­ofe­sion­alizmis don­e­ Se­u­dar­e­blad

gan­mtkicda, Tu­mca, sae­r­TaSor­iso kapitalisaTvis kar­is gaRe­ba

e­r­ovn­u­l ban­ks sr­u­liad axal moTxovn­e­bs u­ye­n­e­bs sar­e­ze­r­vo po­

zicie­bis Se­n­ar­C­u­n­e­bis Tvalsazr­isiT.

swr­af r­e­agir­e­bas moiTxovs saqar­Tve­los savaWr­o balan­sis

su­l u­fr­o mzar­di u­ar­yofiTi saldos pr­oble­ma. vaWr­obis pi­

r­obe­bis gau­ar­e­se­bisa da imis fon­ze­, r­om qve­yan­aSi je­r­ kide­v

ar­asakmar­isia e­.w. sae­qspor­to se­r­visu­li Se­mosavle­bi mokle­ da

saSu­alovadian­ pe­r­iodSi albaT gaZn­e­lde­ba lar­is ku­r­sis ar­se­­

bu­l n­iSn­u­lze­ Se­n­ar­C­u­n­e­ba, r­adgan­ e­gzoge­n­u­r­i e­r­Tje­r­adi tr­an­­

sfe­r­e­bi da in­ve­sticie­bi yove­lTvis ve­r­ moaxe­r­xe­be­n­ sagadamxde­­

lo balan­sis won­aswor­obaSi moyvan­s. miT u­me­te­s, r­om u­cxou­r­i

in­ve­sticie­bi e­gzoge­n­u­r­ sagar­e­o kon­iu­n­qtu­r­aze­ didadaa damoki­

��

de­bu­li. sae­r­TaSor­iso fin­an­su­r­ bazar­Si in­te­gr­ir­e­bis Se­mde­g,

saqar­Tve­lo su­l u­fr­o me­tad iqn­e­ba damokide­bu­li ise­T fin­an­­

su­r­ in­str­u­me­n­te­bze­, r­omle­bic msoflio sapr­oce­n­to gan­akve­Tis

u­mn­iSvn­e­lo cvlile­be­bze­c ki r­e­agir­e­be­n­. ase­T pir­obe­bSi sakma­

r­isia sagar­e­o fin­an­su­r­i kon­iu­n­qtu­r­is odn­av ar­axe­lsayr­e­li

cvlile­ba, r­om Se­sabamisi sar­e­ze­r­vo poziciis ar­qon­is Se­mTxve­va­

Si lar­ma se­r­iozu­li de­valvacia gan­icados.

5. mTavr­o­bis axali fiskalu­r­i

par­adigma- makr­o­e­ko­n­o­miku­r­i stabilu­r­o­ba

misaRe­bia mTavr­obis gadawyve­tile­ba pr­oficitu­li biu­je­tis

dakan­on­e­bis Se­saxe­b. e­s au­cile­blad migvaC­n­ia fiskalu­r­i poli­

tikis gan­mtkice­bisa da damate­biTi in­flaciu­r­i stimu­le­bis mox­

sn­is Tvalsazr­isiT. C­ve­n­i azr­iT, u­kan­askn­e­l pe­r­iodSi saqar­Tve­­

loSi dafiqsir­e­bu­li sakmaod maRali in­flacia gar­kve­u­lwilad,

swor­e­d sabiu­je­to xar­je­bis swr­afi zr­diT iyo gan­pir­obe­bu­li.

amave­ dr­os, sasu­r­ve­lia gaazr­e­bu­li iyos is gar­e­moe­ba, r­om pr­o­

ficitu­li biu­je­tis dakan­on­e­ba Se­iZle­ba saSu­alovadian­i e­kon­o­

miku­r­i politikis n­abiji iyos. sawar­moo faqtor­e­bis din­amikis

obie­qtu­r­i xasiaTi miu­TiTe­bs imaze­, r­om e­kon­omiku­r­i zr­dis ma­

Rali te­mpe­bis Se­n­ar­C­u­n­e­ba su­l u­fr­o gaZn­e­lde­ba momavalSi.

amave­ dr­os, qve­yn­is biu­je­ts u­n­da gaaC­n­de­s gar­kve­u­li ar­e­ali ma­

n­e­vr­ir­e­bisaTvis Tu­ ar­axe­lsayr­e­li kon­iu­n­qtu­r­is gamo qve­yan­as

asime­tr­iu­li Sokis Se­de­ge­bis likvidacia mou­we­vs. gar­da amisa,

ze­dme­tad mkacr­ma sabiu­je­to politikam Se­iZle­ba gar­kve­u­lwi­

lad Se­zRu­dos e­kon­omiku­r­i zr­da mokle­vadian­ pe­r­iodSi.

Tavs Se­vikave­bT e­r­ovn­u­li ban­kis xe­lmZRvan­e­lis pasu­xismge­b­

lobis sakiTxis in­icir­e­basTan­ dakavSir­e­biT azr­is gamoTqmisa­

gan­. ke­r­Zod, miRe­bu­li cvlile­bis Tan­axmad, e­r­ovn­u­li ban­kis xe­l­

mZRvan­e­lobis pasu­xismge­blobis sakiTxi dRis we­sr­igSi dge­ba, Tu­

in­flaciis dage­gmili maC­ve­n­e­be­li ve­r­ iqn­e­ba Se­in­ar­C­u­n­e­bu­li da

daTqmu­l n­iSn­u­ls ascde­ba. migvaC­n­ia, r­om mokle­vadian­ pe­r­iodSi

Zalian­ gar­Tu­lde­ba am amocan­is Se­sr­u­le­ba su­r­saTsa da n­avTob­

�0

ze­ msoflio fase­bis mosalodn­e­li zr­dis gamo. gar­da amisa, e­s

sakiTxi se­r­iozu­li Te­or­iu­li msje­lobis sagan­i u­n­da gaxde­s,

r­adgan­ac e­s mWidr­o kavSir­Sia axali fiskalu­r­i par­adigmasa da

saqar­Tve­los safin­an­so ce­n­tr­ad gadaqce­vis pr­oble­matikasTan­.

sa­q­a­rTvelo­s sa­fin­a­n­so­ sistema­Si a­rsebu­li ca­lkeu­li pro­b-

lemebis mimo­xilva­

migvaC­n­ia, r­om qve­yn­is e­kon­omiku­r­i zr­dis stabilu­r­i te­mpe­bis

Se­n­ar­C­u­n­e­bisaTvis, kapitalis im mocu­lobis dagr­ove­ba, r­asac mTav­

r­o­ba gegmav­s uax­lo­es per­io­dS­i – anu 10­12 miliar­di do­lar­is

sainv­esticio­ r­esur­si – sakmar­isi ar­ ar­is, miux­edav­ad imisa, r­o­m

qve­yn­is safin­an­so siste­ma damaime­de­be­li te­mpe­biT izr­de­ba. saqar­­

Tve­los saban­ko se­qtor­is jamu­r­i aqtive­bi 2007 wlis bolosaT­

vis daaxloe­biT 7.2 miliar­d lar­s Se­adge­n­da, r­ac mSp­s 43%­ia.

am aqtive­bis zr­da momavalSic mosalodn­e­lia, magr­am e­kon­omikis

zr­dis ar­se­bu­li te­mpe­bis Se­san­ar­C­u­n­e­blad, e­s Se­iZle­ba ar­asakmar­i­

si aRmoC­n­de­s da sasu­r­ve­li iqn­e­ba safin­an­so se­qtor­is zr­dis daC­­

qar­e­ba. damaime­de­be­lia se­sxe­bisa da de­pozite­bis zr­dis te­mpe­bic,

magr­am gr­Ze­lvadian­i stabilu­r­i zr­dis misaRwe­vad saWir­oa qve­y­

n­is gan­kar­gu­le­baSi ar­se­bu­li fin­an­su­r­i r­e­ze­r­ve­bi mSp­s je­r­adi

r­icxviT aisaxe­bode­s. mar­Talia 2009 wlisaTvis e­r­ovn­u­li ban­kis

pr­ogn­oziT saban­ko aqtive­bi mSp­s 60% gaxde­ba, magr­am aRn­iSn­u­li

maC­ve­n­e­be­lic cotaa im fon­ze­, r­om dafin­an­se­bis alte­r­n­atiu­li

wyar­oe­bi (safon­do bazar­i, sape­n­sio da sadazRve­vo siste­ma) je­r­

kide­v C­an­asaxovan­ mdgomar­e­obaSia. gar­da amisa, migvaC­n­ia, r­om dakr­e­­

dite­bis str­u­qtu­r­a sfe­r­oe­bis mixe­dviT ar­ ar­is mdgr­adi gr­Ze­l­

vadian­ pe­r­iodSi, r­adgan­ ban­ke­bis mie­r­ gasu­l we­ls gace­mu­li 4,

589 miliar­di lar­idan­ 35% fiziku­r­ pir­e­bze­ modis, 30% vaWr­obasa

da momsaxu­r­e­baze­, 8% mSe­n­e­blobaze­ da mxolod 8% mr­e­wve­lobaze­,

r­ome­lic e­r­Tade­r­Tia, C­amoTvlil sfe­r­oe­bs Sor­is, sae­qspor­to

Se­mosavle­bis momtan­i. ar­aade­kvatu­r­ad dabalia (daaxloe­biT 1%)

soflis me­u­r­n­e­obis dafin­an­se­bac, r­ac am dar­gSi ar­se­bu­li mwvave­

siste­mu­r­i pr­oble­me­bis asaxvas war­moadge­n­s. samwu­xar­oa, magr­am

faqtia, r­om qar­Tu­li saban­ko siste­ma e­r­ide­ba e­.w. “star­tape­bis”

�1

(damwye­bi bizn­e­si) dafin­an­se­basac. am r­icxve­bidan­ac C­an­s, r­om sae­q­

spor­to da impor­tSe­mcve­l se­qtor­e­bSi kapitaldaban­de­be­bi sasu­r­­

ve­lze­ n­e­li te­mpiT xor­cie­lde­ba. ase­ve­ migvaC­n­ia, r­om maRalia ban­­

ke­bis valde­bu­le­be­bSi n­ase­sxe­bi saxsr­e­bis, an­u­ e­.w. “on­le­n­din­gis”

wili (34%). gamor­icxu­li ar­ ar­is, r­om qar­Tu­l bazar­ze­ u­cxou­r­i

ban­ke­bis Se­mosvlam xe­li su­lac ar­ Se­u­wyos adgilobr­ivi iu­r­idi­

u­li pir­e­bis dafin­an­se­bas mokle­vadian­ pe­r­iodSi, Tu­ mxe­dve­lobaSi

miviRe­bT Se­mde­g hipoTe­tiu­r­ me­qan­izms: u­cxou­r­i ban­kis filiali

be­vr­ad u­fr­o iafad moaxe­r­xe­bs on­le­n­din­gis saxsr­e­bis moZie­bas,

r­ac samomxmar­e­blo kr­e­ditze­ dRe­s dafiqsir­e­bu­li maRali gan­ak­

ve­Tisa da bu­mis pir­obe­bSi Se­iZle­ba be­vr­ad u­fr­o momge­bian­i iyos,

vidr­e­ bizn­e­sis dafin­an­se­ba da maRali r­iskis aRe­ba. faqtobr­ivad

am gziT u­cxou­r­ ban­ks mcir­e­ kapitaldaban­de­biT adgilobr­ivi ban­­

ke­bis se­r­ozu­li Se­viwr­ove­ba da bazar­ze­ kon­ku­r­e­n­ciis Se­zRu­dva

Se­u­Zlia. cxadia, amiT ar­ ve­win­aaRmde­ge­biT u­cxou­r­i ban­ke­bis Se­mos­

vlas, r­ac n­amdvilad dade­biT te­n­de­n­ciad migvaC­n­ia, magr­am amave­

dr­os, u­cxou­r­i kapitalis Se­mosvlis kon­te­qstidan­ gan­calke­ve­biT

gan­xilvas da mis calsaxad dade­biT movle­n­ad aRqmasac ar­ ve­Tan­­

xme­biT. samwu­xar­od, mTavr­obis pake­tSi sau­bar­i ar­ ar­is fin­an­su­r­i

bazr­is for­mir­e­bis xe­lSe­wyobis ise­T u­mn­iSvn­e­lovan­e­s in­str­u­me­n­­

tze­, r­ogor­c ke­r­Zo sape­n­sio fon­de­bi da sadazRve­vo siste­maa. e­s

siste­me­bi wamyvan­ qve­yn­e­bSi “gr­Ze­li fu­lis” e­r­T­e­r­Ti yve­laze­ sta­

bilu­r­i wyar­oa. Tu­ am mimar­Tu­le­biT u­axloe­s wle­bSi qme­diTi Ro­

n­isZie­be­bi ar­ gadaidgme­ba, qve­yn­is fiskalu­r­i mdgomar­e­oba Zalze­

gar­Tu­lde­ba da safr­Txis qve­S dadge­ba TviT e­kon­omiku­r­i zr­dis

pe­r­spe­qtivac. de­mogr­afiu­li te­n­de­n­cie­bis Se­n­ar­C­u­n­e­bis pir­obe­bSi,

Tu­ r­amde­n­ime­ we­liwadSi pe­n­sion­e­r­e­bis saSu­alo r­icxvs 700­800

aTasis far­gle­bSi, xolo saSu­alo pe­n­siis ode­n­obas 100 dolar­s

vivar­au­de­bT, mxolod sape­n­sio davalian­e­bis gasastu­mr­e­blad biu­­

je­ts wliu­r­ad TiTqmis miliar­di dolar­is gadaxda mou­we­vs. Tu­

ve­r­ moxe­r­xde­ba ke­r­Zo sape­n­sio fon­de­bis amoqme­de­ba, qve­yn­is biu­je­­

ti da e­kon­omika iZu­le­bu­li gaxde­ba miliar­dobiT dolar­i in­ve­s­

ticie­bis n­acvlad moxmar­e­bis sasar­ge­blod gaxar­jos.

mTavr­obis pake­tSi ase­ve­ ar­afe­r­ia n­aTqvami imaze­, Tu­ r­ogor­

��

u­n­da daC­qar­de­s miwis bazr­is C­amoyalibe­bis pr­oce­si. am Ron­is­

Zie­bas sr­u­liad au­cile­blad miviC­n­e­vT imisaTvis, r­aTa saqar­­

Tve­los soflis me­u­r­n­e­obaSi ar­se­bu­li se­r­iozu­li r­e­ze­r­ve­bi

qve­yn­is e­kon­omikas moxmar­de­s. miwis bazr­is C­amoyalibe­ba xe­ls

Se­u­wyobs sagir­avn­o qon­e­bis gaC­e­n­as soflad, sawar­moe­bis gamsxvi­

le­bas da se­qtor­Si kapitalis daban­de­bas. aRn­iSn­u­li pr­oce­se­bis

xe­lSe­wyoba qve­yan­as r­amde­n­ime­ miliar­di dolar­is ode­n­obis sain­­

ve­sticio r­e­su­r­ss gau­C­e­n­s.

fin­an­su­r­i siste­mis de­r­e­gu­laciisake­n­, gan­saku­Tr­e­biT safon­do

bir­Jis saqmian­obis waxalise­bisake­n­ mimar­Tu­li Ron­isZie­be­bi cal­

saxad misasalme­be­lia. e­s se­r­iozu­l biZgs misce­ms am sfe­r­os gan­­

viTar­e­bas. Tu­mca ve­WvobT, r­om aman­ didi Se­de­gi moitan­os mokle­­

vadian­ pe­r­iodSi qar­Tu­li safin­an­so bazr­is me­tisme­ti simwir­is

gamo. sakmaod far­Todaa gavr­ce­le­bu­li bizn­e­sis Se­mzRu­dve­li

ku­ltu­r­u­li faqtor­e­bi. TviT msxvil bizn­e­sSic ki, iSviaTobas

war­moadge­n­s me­n­e­jme­n­tisa da mflobe­le­bis for­malu­r­i gamijvn­a.

in­ve­stor­s Zalian­ u­Wir­s sain­ve­sticio obie­qtze­ in­for­maciis mo­

pove­ba, r­adgan­ac bizn­e­se­bi Tavs ar­ide­be­n­ xar­jviTi str­u­qtu­r­is

sajar­oobas. am pr­oble­me­bis daZle­va, savar­au­dod, gr­Ze­lvadian­

pe­r­spe­qtivaSi iqn­e­ba Se­saZle­be­li.

daskvn­is saxiT Se­iZle­ba iTqvas, r­om saqar­Tve­los msoflio

safin­an­so siste­maSi C­ar­Tva dade­biTi Ron­isZie­baa, Tu­n­dac imi­

tom, r­om mimdin­ar­e­ globalizaciis fon­ze­ C­ve­n­i qve­yn­is swr­afi

gan­viTar­e­ba gan­calke­ve­bu­lad war­mou­dge­n­e­lia. amave­ dr­os, au­ci­

le­be­lia yve­la mosalodn­e­li r­iske­bis gaazr­e­ba da maTi n­e­itr­a­

lizaciisTvis ade­kvatu­r­i politikis Se­mu­Save­ba.

6. su­ve­r­e­n­u­li e­vr­o­o­bligacie­bis

sade­biu­to­ e­misia

“safin­an­so se­qtor­is globalu­r­i kon­ku­r­e­n­tu­n­ar­ian­obis Se­sa­

x­eb” sakano­nmdeblo­ paketis er­T­er­Ti sakv­anZo­ siax­le – ev­r­o­­

o­bligaciebis emisia – ukv­e isto­r­iis nawilia. 500 milio­ni do­­

lar­is Rir­e­bu­le­bis saqar­Tve­los saxe­lmwifo e­vr­oobligacie­bi

��

lon­don­is safon­do bir­Jaze­ u­kve­ gan­Tavsda. amis Se­saxe­b in­for­­

macia sain­for­macio saage­n­to ”r­oite­r­ma” gaavr­ce­la. samwu­xar­od,

e­s iyo e­r­Tade­r­Ti wyar­o, r­ome­lmac qar­Tu­li e­vr­oobligacie­­

bis sade­biu­to e­misiis Taobaze­ me­t­n­akle­bad de­talize­bu­li in­­

for­macia gaavr­ce­la. saqar­Tve­los mTavr­obam e­vr­oobligacie­bi

kon­spir­aciu­l r­e­JimSi gan­aTavsa. cn­obilia, r­om saqar­Tve­los

e­vr­oobligacie­bi lon­don­is bir­Jaze­ UBS-m da JPMor­gan­ma gan­a­Tav­ses – o­r­ma sabanko­ gigantma, r­o­mlebmac mso­flio­ ipo­Tekur­i

kr­izisis gamo u­dide­si zar­ali iwvn­ie­s. win­aswar­i in­for­maci­

iT, qar­Tu­l e­vr­oobligacie­bze­ sakmaod didi moTxovn­a dafiq­

sir­da. Tu­mca, mTe­li r­igi kiTxve­bi, r­ogor­c e­vr­oobligacie­bis

gamoSve­bis au­ciloblobis, ise­ misi gayidviT miRe­bu­li Se­mosav­

le­bis xar­jvis mizn­obr­iobasTan­ dakavSir­e­biT amTaviTve­ C­n­de­ba.

r­ogor­c aRvn­iSn­e­T, mTavr­obis in­for­maciiT, qar­Tu­l e­vr­oobliga­

cie­bze­ sakmaod didi moTxovn­a dafiqsir­da. vaWr­obaSi 100­ze­ me­­

ti in­ve­stor­i mon­awile­obda. obligacie­bis n­axe­var­i br­itan­e­lma

in­ve­stor­e­bma Se­iZin­e­s, 13% ki ame­r­iku­li kompan­ie­bis ofSor­u­l

an­gar­iSe­bze­ gadavida, u­fr­o n­akle­bi wili Se­xvdaT sxva e­vr­ope­l

da azie­l in­ve­stor­e­bs.

saqar­Tve­los mTavr­obis mie­r­ Se­moTavaze­bu­li 50­dRian­i pr­og­

r­amis e­r­T­e­r­Ti in­iciativiT, e­vr­oobligacie­bis sade­biu­to e­misi­

iT gan­zr­axu­li iyo iafi da gr­Ze­lvadian­i sain­ve­sticio r­e­su­r­sis

mopove­ba 500 milion­i dolar­is ode­n­obiT. am Tan­xis gamoye­n­e­ba

ige­ge­me­boda gazsacavis mSe­n­e­blobisaTvis, ase­ve­ e­le­qtr­oe­n­e­r­giis

e­qspor­tis Se­saZle­blobe­bis gazr­dis mizn­iT magistr­alu­r­i xaze­­

bis mSe­n­e­blobisaTvis. mTavr­obis Se­fase­biT: amgavr­i Ron­isZie­bis

gatar­e­bas didi mn­iSvn­e­loba e­kisr­e­ba qve­yn­is e­n­e­r­gou­safr­Txoe­­

bis gan­mtkice­baSi. ase­ve­, Se­saZle­be­li gaxde­ba saqar­Tve­losTvis

e­vr­oobligacie­bis n­iSn­u­lis dafiqsir­e­ba, r­ac Se­mdgomSi kapita­

lis Se­mosvlas Se­u­wyobs xe­ls.

miu­xe­davad imisa, r­om 7,5% wliu­r­i gan­akve­Ti mar­Tlac ar­ mig­

vaC­n­ia sar­ge­blis maRal gan­akve­Tad, mTavr­obis am gadawyve­tile­­

bis logika C­ve­n­Tvis sakmaod bu­n­dovan­ia.

��

aRsan­iSn­avia, r­om zogadad, vals saxe­lmwifo iRe­bs im Se­mTxve­­

vaSi, Tu­ mosalodn­e­l xar­je­bs saku­Tar­i sabiu­je­to Se­mosavle­­

biT ve­r­ far­avs. ase­T Se­mTxve­vaSi mas or­i gamosavali aqvs: (1)

ise­sxos saSin­ao e­kon­omiku­r­i age­n­te­bisgan­ an­ (2) ise­sxos u­cxou­r­

valu­taSi u­cxou­li kr­e­ditor­e­bisagan­. im fon­ze­, r­om u­kve­ r­amde­­

n­ime­ we­liwadia biu­je­tis saSe­mosavlo n­awilSi Tan­xe­bi gadaWar­­

be­biT gr­ovde­ba, da mokle­vadian­ pe­r­spe­qtivaSi ase­c gagr­Ze­lde­ba,

gau­ge­bar­ia, Tu­ r­a saWir­oa valis saxiT saxsr­e­bis mozidva, Tu­ki

saxe­lmwifo biu­je­ts savse­biT Se­u­Zlia ze­moTxse­n­e­bu­li 500 mi­

lion­i dolar­is r­e­ze­r­vis gamon­axva momde­vn­o wle­bSi biu­je­tu­r­i

saxsr­e­bis pr­ogr­amu­li dafin­an­se­bis safu­Zve­lze­.

Se­saZloa, mTavr­oba am zomis gan­xor­cie­le­bisas motivir­e­bu­­

lia iafi r­e­su­r­sis mozidviTa da imiT, r­om qar­Tu­l fin­an­su­r­ ba­

zar­ze­ ase­Ti iafi sapr­oce­n­to gan­akve­TiT Tan­xe­bis aRe­ba Zn­e­lad

savar­au­do iqn­e­boda. gar­da amisa, u­cxoe­Tidan­ Tan­xe­bis mozidva

Se­saZloa gamar­Tle­bu­li iyos sabiu­je­to disciplin­is gan­mtki­

ce­bis motiviTac, magr­am vime­or­e­bT, r­a saWir­oa sagar­e­o valis

gazr­da, r­oca 500 milion­ian­i pr­ogr­amis r­amde­n­ime­ wlis man­Zil­

ze­ dafin­an­se­ba be­vr­ad u­fr­o iafi biu­je­tis saxsr­e­biT savse­biT

Se­saZle­be­lia?

am mosazr­e­bis opon­e­n­te­bs Se­saZloa miaC­n­de­T, r­om mTavr­obas

ar­ su­r­s Tan­xe­bi moaklos socialu­r­ pr­ogr­ame­bs, an­ im mimar­­

Tu­le­be­bs, r­omle­bic ,,Zir­iTadi mon­ace­me­bisa da mimar­Tu­le­be­bis

doku­me­n­tiTaa” gawe­r­ili, magr­am valis gadaxda momavalSi xom

TavisTavad moakle­bs r­e­su­r­se­bs sxva mimar­Tu­le­be­bs da TavisTa­

vad u­fr­o n­akle­bad optimalu­r­i situ­aciaa xar­je­bis valis gar­e­­

Se­ gadan­awile­basTan­ Se­dar­e­biT? gar­da amisa, biu­je­tis xar­je­bs

dae­mate­ba wliu­r­ad daaxloe­biT 40 milion­i dolar­is, r­ogor­c

valis momsaxu­r­e­bis gadaxda, r­ac su­lac ar­ ar­is mcir­e­ Tan­xa.

makr­oe­kon­omiku­r­i Tvalsazr­isiT, am Ron­isZie­bis Se­de­ge­bi Se­­

saZloa dade­biTic da u­ar­yofiTic iyos. e­r­Ti mxr­iv, mar­Tlac

fiqsir­de­ba ,,be­n­C­mar­ki” saqar­Tve­losaTvis, magr­am amave­ dr­os u­a­

r­e­sde­ba qve­yn­is n­e­to sae­r­TaSor­iso kr­e­ditor­u­li pozicia, r­o­

me­lic saSin­ao ke­r­Zo se­qtor­is, saxe­lmwifo se­qtor­isa da ce­n­tr­a­

��

lu­r­i ban­kis n­e­to aqtive­bisagan­ Se­dge­ba. gar­da amisa, be­vr­i r­am

iqn­e­ba damokide­bu­li e­r­ovn­u­li ban­kis moqme­de­baze­, Tu­ r­ogor­

moaxe­r­xe­bs igi e­kon­omikisaTvis pote­n­ciu­r­i n­e­gatiu­r­i Se­de­ge­bis

(magaliTad valu­tis ku­r­sis Se­mdgomi gamyar­e­ba, pote­n­ciu­r­i in­­

flacia, samomxmar­e­blo xar­je­bis ar­asasu­r­ve­li zr­da) u­mtkivn­e­u­­

lod n­e­itr­alize­bas.

”be­n­C­mar­kis” dafiqsir­e­ba TavisTavad didi fase­u­loba ar­ ar­is,

r­adgan­ac saqar­Tve­los mTavr­obas Se­e­Zlo maSin­ e­se­sxa, r­oca amis

r­e­alu­r­i saWir­oe­ba dau­dge­boda. kar­gi r­e­pu­taciisa da maRali

san­doobis mqon­e­ qve­yn­e­bis mTavr­obe­bs xom im Se­mTxve­vaSic sakma­

r­isad war­mate­biT da iafad Se­u­ZliaT axali vale­bis aRe­ba, r­oca

maTi biu­je­ti kon­iu­n­qtu­r­u­li mize­ze­biT de­ficitu­r­ia.

fin­an­sTa samin­istr­os mon­ace­me­biT, saqar­Tve­los sagar­e­o vali

dRe­isaTvis daaxloe­biT 1 870 aTas aSS dolar­s Se­adge­n­s, aqe­dan­

mr­avalmxr­iv kr­e­ditor­e­bze­ modis 1,3 miliar­d dolar­ze­ me­ti, xo­

lo or­mxr­iv kr­e­ditor­e­bze­ da saxe­lmwifo gar­an­tiiT aRe­bu­l

kr­e­dite­bze­ 540 milion­ dolar­ze­ me­ti. am validan­ daaxloe­biT

300 milion­i dolar­e­bSia de­n­omin­ir­e­bu­li, xolo SDR�­Si daax­

loe­biT 700 milion­i. imis gaTvaliswin­e­biT, r­om SDR-is kalaTa­

Si wamyvan­ r­ols swor­e­d dolar­i asr­u­le­bs, Zn­e­li savar­au­do

ar­ ar­is, r­om dRe­s ar­se­bu­li sagar­e­o kon­iu­n­qtu­r­a xe­lsayr­e­lia

swor­e­d dolar­Si de­n­omin­ir­e­bu­li vale­bis gasastu­mr­e­blad da

ar­a maT asaRe­bad. amaze­ me­tyve­le­bs sae­r­TaSor­iso fin­an­su­r­ mi­

momxilve­lTa u­mr­avle­sobis is mosazr­e­bac, r­om dolar­is ku­r­sis

stabilizacia an­ misi n­e­li, magr­am stabilu­r­i gamyar­e­ba Se­saZ­

loa u­kve­ am wlis miwu­r­u­ls daiwyos. Tu­ oTxi wlis win­an­de­l

r­e­alobas gavixse­n­e­bT, cxadi gaxde­ba, r­om saqar­Tve­los sagar­e­o

vali lar­e­bSi asaxviT dRe­s 25­30%­iTaa Se­mcir­e­bu­li. amr­igad,

logiku­r­ad migvaC­n­ia valis gadaxda da ar­a axali valis aRe­ba.

mTavr­obis mie­r­ e­n­e­r­ge­tikis se­qtor­Si Tan­xe­bis daban­de­bis mo­

tivis amgvar­i for­mu­lir­e­ba u­cn­au­r­ia, r­adgan­ac gau­ge­bar­ia, Tu­

r­atom u­n­da moxde­s e­s main­cdamain­c e­vr­oobligacie­bis xar­jze­.

je­r­ kide­v gasu­li sau­ku­n­is 90­ian­ wle­bSi saqar­Tve­los e­n­e­r­ge­ti­

� Special Dr­awing Rights­ se­sxe­bis spe­cialu­r­i u­fle­ba

��

kis r­e­abilitaciisaTvis don­or­Ta sazogadoe­bam mr­avali aTe­u­li

milion­i dolar­is r­e­su­r­si gamoyo, r­omlis aTvise­bac ar­c Tu­ ise­

e­fe­qtian­i iyo. dRe­isaTvis, r­ode­sac saqar­Tve­los e­n­e­r­ge­tikaSi

moixsn­a gadau­xde­lobis pr­oble­ma, aRmoifxvr­a e­le­qtr­oe­n­e­r­giis

de­ficiti da war­mate­biT gatar­da str­u­qtu­r­u­li r­e­for­ma, migvaC­­

n­ia, r­om mr­avalmxr­iv da or­mxr­iv don­or­Ta Tan­ame­gobr­obisgan­

7.5%­ze­ u­fr­o iafi da e­qvs we­lze­ u­fr­o gr­Ze­lvadian­i r­e­su­r­sis

mopove­ba savse­biT Se­saZle­be­lia. yove­l Se­mTxe­vaSi, Tu­ mTavr­o­

bam au­cile­blad miiC­n­ia am Ron­isZie­bis dasafin­an­se­blad valis

aRe­ba, mosin­ja Tu­ ar­a man­ C­ve­n­s mie­r­ n­axse­n­e­bi alte­r­n­ativa? mig­

vaC­n­ia, r­om don­or­e­bs Se­u­ZliaT Tan­xe­bis gamoyofa, Tu­ mTavr­oba

daasabu­Te­bs, r­om Tan­xe­bi qve­yn­is e­n­e­r­gou­safr­Txoe­bis gan­mtkice­­

bisa da siRar­ibis daZle­visaTvis au­cile­be­lia.

amasTan­ave­, Se­saZle­be­lia gazis satar­ifo politikis imgvar­ad

S­emuS­av­eba da am dar­gS­i ko­nkur­enciis wax­aliseba – sistemaS­i

damo­ntaJebuli stabilizato­r­ebis S­eqmnis meS­v­eo­biT – r­o­go­r­c

e­s xde­ba saxe­lmwifo biu­je­tis Se­mTxve­vaSi, r­ome­lic e­kon­omikis

ciklis sxvadasxva stadiaze­ e­r­Toblivi moTxovn­is sasu­r­ve­li

mimar­Tu­le­biT kor­e­qciis saSu­ale­bas iZle­va. sasu­r­ve­lia dadgin­­

de­s didia Tu­ ar­a gazis gaman­awile­be­l siste­maSi dan­akar­ge­bis

wili. alte­r­n­ativis saxiT Se­saZle­blad migvaC­n­ia siste­maSi dan­a­

kar­ge­bis Se­mcir­e­biske­n­ mimar­Tu­li te­qn­ologie­bis stimu­lir­e­ba.

au­cile­be­lia e­n­e­r­godamzogi te­qn­ologie­bis waxalise­ba, Se­sabami­

si sagadasaxado da admin­istr­aciu­li stimu­le­bis amoqme­de­ba da

ke­r­Zo­saxe­lmwifo par­tn­ior­obis sqe­me­bis Se­mu­Save­ba. u­cxoe­Tis

wamyvan­ qve­yn­e­bSi e­n­e­r­gomatar­e­ble­bze­ fase­bis swr­afi zr­dis pi­

r­obe­bSi ase­T Ron­isZie­be­bs su­l u­fr­o me­ti yu­r­adRe­ba e­qce­va.

u­cn­au­r­ia, Tu­ r­atom ar­ iqn­a war­modge­n­ili pir­ve­l e­tapze­ pr­o­

e­qte­bi da mxolod Se­mdgom maTi dafin­an­se­bis wyar­oe­bis moZie­­

ba. sakmaod mar­tivi logikaa je­r­ Se­mu­Savde­s kon­kr­e­tu­li pr­oe­q­

te­bis te­qn­iku­r­­e­kon­omiku­r­i dasabu­Te­ba, Se­dge­s xar­jTaRr­icxva,

u­ku­ge­bis maC­ve­n­e­ble­bi, socialu­r­i, e­kon­omiku­r­i, gar­e­mosdacviTi

ze­gavle­n­is kvle­ve­bi da mxolod Se­mde­g moviZioT dafin­an­se­bis

wyar­oe­bi. gamor­icxu­li ar­ ar­is, r­om hidr­oe­le­qtr­osadgu­r­e­bis

��

kapitalu­ku­ge­bis pe­r­iodi e­qvs we­ls aRe­mate­bode­s. maSin­ mTav­

r­obis mie­r­ e­qvsi wliT aRe­bu­li valde­bu­le­ba n­amdvilad ve­r­

C­aiTvle­ba Se­RavaTian­ad. samwu­xar­od, C­ve­n­Tvis cn­obili ar­ ar­is

C­atar­da Tu­ ar­a u­kve­ ase­Ti tipis samu­Saoe­bi.

ase­ve­ gau­r­kve­ve­lia, Tu­ r­a saWir­oa saxe­lmwifo in­ve­sticie­bi,

Tan­ac valis saxiT aRe­bu­li saxsr­e­biT maSin­, r­oca saqar­Tve­lo­

Si e­le­qtr­oe­n­e­r­giaze­ tar­ifi sakmaod maRalia da e­s se­qtor­i

sakmaod mimzidve­li u­n­da iyos ke­r­Zo bizn­e­sisTvis. Tu­ e­s ase­

ar­ ar­is, maSin­ u­n­da ar­se­bobde­s in­for­macia imis Se­saxe­b, Tu­ r­a

abr­kole­bs saqar­Tve­los hidr­oe­n­e­r­ge­tikaSi ke­r­Zo kapitalis Se­­

mosvlas. Tu­ r­ome­lime­ tr­an­sn­acion­alu­r­i kor­por­acia saqar­Tve­­

los e­n­e­r­ge­tikiT dain­te­r­e­sde­ba, n­akle­bsavar­au­doa, man­ ve­r­ Se­Z­

los wliu­r­ 7,5%­ze­ iafi kapitalis, Tan­ac gacile­biT u­fr­o didi

r­aode­n­obiTa da xan­gr­Zlivi pe­r­iodiT mopove­ba.

Tu­mca, bolo dr­os gavr­ce­le­bu­li in­for­maciiT, kide­v u­fr­o

gau­ge­bar­i xde­ba e­vr­oobligacie­bis gayidviT miRe­bu­li saxsr­e­bis

xar­jvis mizn­obr­ioba, r­adgan­ am in­for­maciis Tan­axmad, Tan­xe­bi

aRar­ daixar­je­ba e­n­e­r­goin­fr­astr­u­qtu­r­is mSe­n­e­blobaze­, ar­ame­d

C­aide­ba e­.w. momavali Taobe­bis fon­dSi. iqidan­ gamomdin­ar­e­, r­om

mTavr­obas am fon­dis mizn­e­bisa da saxsr­e­bis masStabis Se­saxe­b

kon­kr­e­tu­li in­for­macia ar­ gau­vr­ce­le­bia, C­ve­n­Tvis kome­n­tar­is

gake­Te­ba am Te­maze­ sakmaod Zn­e­lia. r­ogor­c ze­moT aRvn­iSn­e­T,

win­aswar­i ge­gmiT e­vr­oobligacie­bis e­misiidan­ miRe­bu­li saxsr­e­­

bi or­i mimar­Tu­le­biT u­n­da wasu­liyo: n­awili gazsacavis mSe­­

n­e­blobisaTvis da me­or­e­ n­awili ki Tu­r­qe­TSi e­le­qtr­oe­n­e­r­giis

e­qspor­tis gazr­dis mizn­iT e­le­qtr­ogadamce­mi xazis mSe­n­e­blobi­

saTvis.

dRe­isaTvis ar­ ar­se­bobs r­aime­ saxis oficialu­r­i in­for­macia,

aqvs Tu­ ar­a saqar­Tve­e­los mTavr­obas miRe­bu­li saboloo gadaw­

yve­tile­ba e­vr­oobligacie­bis e­misiidan­ miRe­bu­li Se­mosavle­bis

xar­jvasTan­ dakavSir­e­biT.

��

7. iafi se­sxis pr­o­gr­ama

50­dRian­i pr­ogr­amis e­r­T­e­r­Ti n­awilis, iafi se­sxis kompon­e­n­t

,,100 sau­ke­Te­so qar­Tu­li bizn­e­spr­oe­qtis” dasafin­an­se­blad sabi­

u­je­to saxsr­e­bis gamoye­n­e­baa gaTvaliswin­e­bu­li. pr­ogr­amis av­

tor­Ta azr­iT, 4% wliu­r­i gan­akve­Tis mqon­e­ 25 wlian­i se­sxiT da

wliu­r­i bizn­e­sis dafin­an­se­ba xe­ls Se­u­wyobs qve­yan­aSi siRar­ibis

daZle­vas. aRsan­iSn­avia, r­om sau­ke­Te­so pr­oe­qte­bis Se­sar­C­e­vad Se­­

moTavaze­bu­lia kompe­te­n­tu­r­i biu­r­os gamWvir­vale­d mu­Saoba.

e­s swor­e­d is Se­mTxve­vaa, r­oca saxe­lmwifos C­ar­e­va e­kon­omi­

ku­r­ cxovr­e­baSi ar­aTu­ gau­mar­Tle­be­li, ar­ame­d zian­is momtan­i­

caa. Tan­ame­dr­ove­ e­kon­omiku­r­ Te­or­iaSi ar­ ar­se­bobs ar­gu­me­n­ti,

r­ome­lic an­ e­fe­qtian­obis an­ socialu­r­i samar­Tlian­obis Tval­

sazr­isiT pr­odu­qtiu­li r­e­su­r­se­bis gan­awile­baSi saxe­lmwifos

amgvar­ C­ar­e­vas gaamar­Tle­bda. saxe­lmwifos, e­kon­omikaSi r­e­su­r­se­­

bis gan­awile­ba gamocdili Jiu­r­is me­Sve­obiT r­om iyos Se­saZle­­

be­li, sabazr­o me­qan­izmis saWir­oe­ba ar­ iar­se­be­bda. am in­iciati­

vis avtor­e­bs Zalian­ gau­Wir­de­baT dagvisabu­Ton­, Tu­ r­atom ar­is

r­ome­lime­ gamocdili Jiu­r­i sabazr­o me­qan­izmze­ kompe­te­n­tu­r­i.

e­s kompe­te­n­tu­r­i Jiu­r­i mTavr­obis we­vr­e­bisgan­ Se­dge­ba da war­­

modge­n­ili pr­oe­qte­bis damtkice­bac mTavr­obis sxdome­bze­ xde­ba.

kompe­te­n­tu­r­i Jiu­r­is iafi se­sxis pr­ogr­amis admin­istr­ir­e­bisaT­

vis mocde­n­a adamian­u­r­i r­e­su­r­se­bis u­yair­aTo gamoye­n­e­bis kide­v

e­r­Ti magaliTia.

u­cn­au­r­ia mTavr­obis pr­e­ze­n­taciaSi moyvan­ili Se­mde­gi gan­mar­­

te­ba: ,,pr­oe­qte­bis war­dge­n­is saSu­ale­ba e­qn­e­ba saqar­Tve­los n­e­­

bismie­r­ moqalaqe­s an­ kompan­ias.” ar­a gvgon­ia e­s didi Se­RavaTi

iyos, r­adgan­ac saqar­Tve­los n­e­bismie­r­ moqalaqe­s ise­dac Se­u­Zlia

dau­br­kole­blad saban­ko se­qtor­sac mimar­Tos.

gau­ge­bar­ia, Tu­ r­atomaa ar­C­e­u­li wliu­r­i 4%­ian­i gan­akve­Ti, r­ac

mn­iSvn­e­lovn­ad mcir­e­a wliu­r­ in­flaciaze­? e­s faqtobr­ivad ar­is

calke­u­li bizn­e­se­bisaTvis fu­lis C­u­qe­ba da ar­a sabazr­osTan­

me­t­n­akle­bad miaxloe­bu­li pir­obe­biT waxalise­ba. gar­da amisa,

��

Zn­e­lia siRar­ibis daZle­vaSi aqtiu­r­i wvlilis Se­tan­a movTxo­

voT ise­T pr­oe­qte­bs, r­ome­lTa wliu­r­i u­ku­ge­ba 4%­ze­ n­akle­bia, ma­

Sin­ r­ode­sac saqar­Tve­loSi mr­avlad moipove­ba pr­oe­qte­bi, r­ome­l­

Ta wliu­r­i u­ku­ge­bis n­or­ma 15­20%­s aRe­mate­ba (soflis me­u­r­n­e­oba,

in­fr­astr­u­qtu­r­u­li pr­oe­qte­bi da sxva). maTi dau­fin­an­se­bloba

imiT aixsn­e­ba, r­om saban­ko se­qtor­i, r­ogor­c ze­moT u­kve­ aRin­iSn­a,

e­r­ide­ba damwye­bi bizn­e­se­bisa da soflis me­u­r­n­e­obis pr­oe­qte­bis

dafin­an­se­bas.

e­le­me­n­tar­u­li logikaa, r­om u­ku­ge­bis au­cile­be­li n­or­mis am­

gvar­i gau­mar­Tle­be­li dawe­va San­ss u­C­e­n­s ise­T bizn­e­se­bs, r­ome­l­

Ta gan­xor­cie­le­ba Tavisu­fal sabazr­o pir­obe­bSi Se­u­Zle­be­li

iqn­e­boda.

zogadi won­aswor­obis mode­lis u­mar­tive­s postu­late­bze­ day­

r­dn­obiTac ki cxadia, r­om Tu­n­dac war­mate­bu­li pr­oe­qte­bis amgva­

r­i ar­asabazr­o pr­in­cipe­biT dafin­an­se­ba au­cile­blad gamoiwve­vs

r­e­su­r­se­bis de­ficits e­kon­omiku­r­i siste­mis dan­ar­C­e­n­ n­awilSi.

mTe­li e­kon­omikisaTvis optimalu­r­i Se­de­gi miiRwe­va mxolod ma­

Sin­, r­oca se­qtor­e­bs Sor­is gamoTan­abr­e­bu­lia kapitalis zRvr­u­­

li pr­odu­qtis n­or­ma. e­s ki Se­saZle­be­lia mxolod kapitalis

Tavisu­fali, sabazr­o pr­in­cipe­biT alokaciis Se­mTxe­vaSi.

iafi se­sxis pr­ogr­amis msgavsi in­iciative­bi, r­ome­lTac e­kon­o­

miu­r­ Te­or­iasTan­ da pr­aqtikasTan­ sae­r­To ar­afe­r­i aqvT, win­asa­

ar­C­e­vn­o gamosvle­bSi ar­a mxolod saqar­Tve­loSi, ar­ame­d mTe­ls

msoflioSi gamoiye­n­e­ba. TviT ame­r­ikis Se­e­r­Te­bu­l State­bSic ki,

amJamad mimdin­ar­e­ sapr­e­zide­n­to kampan­iisas, or­ive­ par­tiis war­mo­

madge­n­le­bi calke­u­l Se­mTxve­ve­bSi Tavian­T gamosvle­bSi u­gu­le­­

be­lyofe­n­ sabazr­o e­kon­omikis pr­in­cipe­bs e­le­qtor­atis momxr­o­

bis mizn­iT.

migvaC­n­ia, r­om amgvar­i pr­ogr­ame­bis dafin­an­se­bidan­ TavSe­kave­ba

da saqar­Tve­los safin­an­so se­qtor­Si ar­se­bu­li str­u­qtu­r­u­li

sir­Tu­le­e­bis aRmofxvr­aze­ mu­Saoba be­vr­ad u­fr­o n­e­la, magr­am

stabilu­r­ Se­de­ge­bs misce­mda, r­ogor­c mTavr­obasa da ke­r­Zo biz­

n­e­ss, ise­ sazogadoe­bas mTlian­ad.

�0

8. 100 agr­o­sawar­mo­

50­dRian­i pr­ogr­amis far­gle­bSi gan­saku­Tr­e­bu­li yu­r­adRe­ba

r­e­gion­u­li gan­viTar­e­bis pr­oe­qte­bs e­Tmoba. am mxr­iv yve­laze­ far­­

TomasStabian­i 100 agr­o sawar­mos in­iciativaa, r­amac gle­xe­bisaT­

vis sagazafxu­lo samu­SaobisaTvis 20 litr­i dize­lis sawvavis

e­r­Tje­r­adad gadace­misagan­ gan­sxvave­biT, (r­ome­lic ase­ve­ 50­dRi­

an­i pr­ogr­amis n­awilia), Se­saZloa, u­fr­o gr­Ze­lvadian­i e­fe­qti

moitan­os.

pr­ogr­ama mTe­li qve­yn­is masStabiT r­e­gion­e­bSi saxe­lmwifo sa­

ku­Tr­e­baSi ar­se­bu­li sasoflo­same­u­r­n­e­o miwis n­akve­Te­bis gas­

xvise­bas gu­lisxmobs maT te­r­itor­iaze­ agr­osawar­mos amu­Save­bis

pir­obiT. saxe­lmwifo iRe­bs gan­acxade­bs miwis lote­bze­ da Se­Ta­

vaze­bu­li pir­obe­bis mixe­dviT ir­C­e­vs kon­tr­aqtor­e­bs. aRsan­iSn­a­

via, r­om dain­te­r­e­se­bu­l pir­e­bs Se­u­ZliaT gan­acxadis Se­tan­a ar­a

mxolod im lote­bze­, r­ome­lic saxe­lmwifos mie­r­aa gamotan­ili,

ar­ame­d saxe­lmwifo saku­Tr­e­baSi ar­se­bu­l n­e­bismie­r­ miwis n­akve­T­

Tan­ dakavSir­e­biT. e­kon­omikis samin­istr­os gan­mar­te­biT, sabazr­o

fasze­ n­akle­bis Se­Tavaze­bis Se­mTxve­vaSi, loti ar­ gaiyide­ba. da­

in­te­r­e­se­bu­li me­war­misagan­ damakmayofile­be­li pir­obe­bis Se­Ta­

vaze­bis Se­mTxve­vaSi (fasi, in­ve­sticie­bis mocu­loba, samu­Sao ad­

gile­bis r­aode­n­oba), ide­ba kon­tr­aqti da sawyis e­tapze­ me­war­me­

miwis lotis Rir­e­bu­le­bis mxolod 20%­s ixdis. xe­lSe­kr­u­le­bis

pir­obe­bis sr­u­lad da dr­ou­lad Se­sr­u­le­bis Se­mTxve­vaSi ki is

dar­C­e­n­ili 80%­is gadaxdis valde­bu­le­bisagan­ Tavisu­flde­ba da

sasoflo­same­u­r­n­e­o miwac mis saku­Tr­e­baSi gadadis. swor­e­d e­saa

pr­o­gr­amis mTav­ar­i mimzidv­elo­ba – is saS­ualebas aZlev­s mewar­­

me­e­bs sabazr­o fasis me­xu­Te­dad Se­iZin­on­ sasoflo­same­u­r­n­e­o mi­

wis n­akve­Te­bi Tavian­Ti war­moe­bis gasafar­Toe­blad.

e­kon­omikisa da soflis me­u­r­n­e­obis samin­istr­oe­bis cn­obiT,

pr­ogr­ama miwis mozr­dil lote­bze­a or­ie­n­tir­e­bu­li, min­imu­m 5 ha.,

Tu­mca e­s mocu­lobac sakmaod mcir­e­a far­TomasStabian­i soflis

me­u­r­n­e­obis war­moe­bis gasamar­Tad. Se­sabamisad, misi be­n­e­ficiar­e­­

bi u­kve­ gamocdili da mozr­dili me­war­me­e­bi/sawar­moe­bi iqn­e­bian­.

�1

pr­ogr­amis ve­b­gve­r­dze­3 gan­Tavse­bu­li mokle­ gan­acxadis for­­

ma dain­te­r­e­se­bu­li me­war­me­e­bisagan­ saxe­lwode­bas, sakon­taqto in­­

for­macias, maTTvis sain­te­r­e­so miwis lote­bis ide­n­tificir­e­bas

da Se­Tavaze­bu­l fass moiTxovs. gan­mcxade­ble­bma ase­ve­ u­n­da mi­

u­TiTon­ bolo sami wlis war­madoba da fin­an­su­r­i maC­ve­n­e­ble­bi,

in­for­macia dasaqme­bu­lTa r­aode­n­obis, sain­ve­sticio Tan­xisa da

war­moe­bu­li pr­odu­qciis r­e­alize­bis ge­gme­bis Se­saxe­b. gan­acxa­

dis for­maSi e­r­Ti gve­r­dia gamoyofili Se­Tavaze­bu­li pr­oe­qtis

aRwe­r­isaTvis.

miu­xe­davad am in­for­maciis mopove­bisa, C­ve­n­Tvis, win­amde­bar­e­

an­gar­iSze­ mu­Saobis pe­r­iodSi, Se­u­Zle­be­li aRmoC­n­a am pr­ogr­amis

sakon­omde­blo bazis mopove­ba. ase­ve­ Se­u­Zle­be­li aRmoC­n­da sa­

xe­lmwifo biu­je­tSi am pr­ogr­amis Se­saxe­b in­for­maciis povn­ac.

mar­Talia pr­ogr­ama u­Su­alod saxe­lmwifos mxr­idan­ did xar­je­bs

ar­ iTvaliswin­e­bs, magr­am Tavad pr­ogr­ama ar­c e­kon­omiku­r­i gan­vi­

Tar­e­bisa da ar­c soflis me­u­r­n­e­obis samin­istr­oe­bis biu­je­te­bSi

sae­r­Tod ar­ figu­r­ir­e­bs, maT Sor­is, ar­c admin­istr­ir­e­bis xar­je­­

bis ku­TxiTac.

aRsan­iSn­avia, r­om 50­dRian­ ge­gmaSi n­axse­n­e­bi r­amde­n­ime­ pr­ogr­ama

e­r­Tman­e­TSi aRr­e­u­lia, Tavad saxe­lmwifo moxe­le­e­bis mxr­idan­ac

da am pr­ogr­ame­bis sate­le­vizio r­e­klamir­e­bisasac. ke­r­Zod, “100

agr­osawar­mos” pr­ogr­amisa da “iafi se­sxis” pr­ogr­amis kompon­e­n­­

te­bis e­r­Tman­e­Tisagan­ gan­sxvave­ba pr­aqtiku­lad Se­u­Zle­be­lia, da

e­kon­omiku­r­i gan­viTar­e­bis samin­istr­oSic gaZn­e­lda e­r­Tgvar­ova­

n­i in­for­maciis mopove­ba. (mag. 100 sasoflo­same­u­r­n­e­o pr­ogr­amis

samar­Tle­br­iv bazad mTavr­obis 2008 wlis 26 mar­tis #75 dadge­­

n­ile­ba migviTiTe­s, r­ome­lic iafi se­sxis pr­ogr­amis kompon­e­n­te­bs,

e­qspor­tis waxalise­basa da r­e­gion­u­li tu­r­izmis gan­viTar­e­bis

qve­pr­ogr­ame­bs Se­e­xe­ba).

soflis me­u­r­n­e­obis samin­istr­os cn­obiT, r­ome­lic u­Su­alod

axor­cie­le­bs am pr­ogr­amas, je­r­­je­r­obiT kon­kr­e­tu­li xe­lSe­ku­r­u­­

le­be­bi ar­ dade­bu­la, Tu­mca in­te­r­e­si sakmaod maRalia da gan­ac­

xade­bic aqtiu­r­ad miiRe­ba.

�. www.agr­o100.ge

��

pr­ogr­amis sakan­on­mde­blo safu­Zvlis ar­ar­se­bobis gamo mi­

si admin­istr­ir­e­bis e­fe­qtu­r­oba Se­iZle­ba sae­Wvo gaxde­s. pir­ve­l

r­igSi, kr­ite­r­iu­me­bisa da pr­oce­du­r­e­bis n­aTlad C­amou­yalibe­b­

lobis gamo, Se­saZloa, dain­te­r­e­se­bu­li me­war­me­e­bi dazar­aldn­e­n­.

amasTan­, aRsan­iSn­avia e­kon­omikis samin­istr­os didi diskr­e­ciac,

r­ac pr­ogr­amis gan­xor­cie­le­bis gau­mWvir­valobis mize­zi Se­iZle­­

ba gaxde­s.

9. sape­n­sio­ r­e­fo­r­ma

mTavr­obis 50­dRian­i pr­ogr­amis e­r­T­e­r­Ti kompon­e­n­tia ase­ve­

sape­n­sio r­e­for­ma. r­e­for­mis pir­ve­l e­tapad 2008 wlis 1 mar­ti­

dan­ min­imalu­r­i pe­n­siis 70 lar­amde­ gaizar­da (man­amde­ ar­se­bu­li

55 lar­idan­), r­ac 653 000 asakovan­ adamian­s Se­e­xo. 2008 wlisaTvis

saxe­lmwifo biu­je­tidan­ pe­n­sie­bis dasafin­an­se­blad gamoyofili

Tan­xa 749 757 600 lar­s Se­adge­n­s, r­ac biu­je­tis mTe­li xar­jviTi

n­awilis 15.5 %­ia. mTavr­obis gan­cxade­biT, 2009 wlis biu­je­tis da­

ge­gmvisas gaTvaliwin­e­bu­li iqn­e­ba r­e­for­mis me­or­e­ e­tapi, pe­n­siis

100 dolar­is e­qvivale­n­tamde­ gazr­da.

miu­xe­davad pe­n­sie­bis mocu­lobis zr­disa, e­s in­iciativa n­ak­

le­bad Se­iZle­ba C­aiTvalos r­e­for­mad. xan­dazmu­lobis pe­n­sias

momu­Save­ moqalaqe­e­bi Tavian­Ti saSe­mosavlo gadasaxadidan­ ixdi­

an­, r­ac dRe­van­de­li kan­on­mde­blobiT 25% Se­adge­n­s. statistikis

de­par­tame­n­tis bolo mon­ace­me­biT, saqar­Tve­los mosaxle­obis mxo­

lod 13% ar­is u­mu­Se­var­i, Se­sabamisad, dasaqme­bu­lTa r­aode­n­oba

Sr­omis bazar­ze­ myofi moqalaqe­e­bis 87%­ia, r­ac sabolood saqar­­

Tve­los sr­u­li mosaxle­obis daaxloe­biT 53%­ia. de­par­tame­n­tis

am mon­ace­me­bs Tu­ dave­yr­dn­obiT, u­mu­Se­vr­oba da misgan­ gamomdin­a­

r­e­ siRar­ibe­ saqar­Tve­loSi ar­c ise­ mwvave­ pr­oble­mas u­n­da war­mo­

adge­n­de­s. de­par­tame­n­tisve­ mon­ace­me­biT saqar­Tve­loSi 2007 wlis

bolosaTvis saSu­alo Tviu­r­i n­omin­alu­r­i xe­lfasi 451 lar­ia.

amasTan­, 65 we­lze­ u­fr­osi adamian­e­bi mTe­li mosaxle­obis 14.6%

Se­adge­n­e­n­. oficialu­r­ad saar­se­bo min­imu­mi bolos 2007 wlis

mar­tSi iyo gamoan­gar­iSe­bu­li da Sr­omisu­n­ar­ian­i asakis adamian­i­

��

saTvis 128.6 lar­s Se­adge­n­da. e­s maC­ve­n­e­be­lic, mzar­di in­flaciis

gaTvaliswin­e­biT, aSkar­ad moZve­le­bu­lia, magr­am gazr­dil pe­n­sia­

ze­ main­c TiTqmis or­je­r­ me­tia. amasTan­, isicaa gasaTvaliswin­e­be­­

li, r­om Sr­omisu­n­ar­ian­i adamian­is saar­se­bo min­imu­mi, xan­dazmu­li

asakis adamian­is saar­se­bo min­imu­misagan­ gan­sxvave­bu­li iqn­e­ba, mox­

mar­e­bu­li saqon­lisa da momsaxu­r­e­bis sxvaobis gamo. magaliTad,

sape­n­sio asakis adamian­e­bs jan­mr­Te­l, Sr­omisu­n­ar­ian­ adamian­Tan­

Se­dar­e­biT u­fr­o me­ti same­dicin­o momsaxu­r­e­ba dasWir­de­baT, r­ac

min­imalu­r­ dan­axar­je­bs kide­v u­fr­o gazr­dis.

r­a Tqma u­n­da, pe­n­sie­bis mocu­lobis zr­da TavisTavad misasal­

me­be­li da au­cile­be­licaa, magr­am ar­se­bu­li in­flaciu­r­i fon­is

gaTvaliswin­e­biT, e­s zr­da mxolod in­de­qsaciad Se­iZle­ba C­aiTva­

los. 100 dolar­amde­ gazr­dili pe­n­sia mn­iSvn­e­lovan­i Se­RavaTi

ve­r­ iqn­e­ba pe­n­sion­e­r­TaTvis, miu­xe­davad imisa, r­om Se­iZle­ba ar­a

mxolod pe­n­sion­e­r­e­bisaTvis JRe­r­de­s mimzidve­lad. mimdin­ar­e­ pe­­

r­iodSi dolar­i mn­iSvn­e­lovn­adaa gaiafe­bu­li. pe­n­siis am n­iSn­u­­

lamde­ gazr­dis ge­gme­bis pir­ve­lad gaxmovan­e­bisas igi gacile­­

biT u­fr­o Zvir­i iyo (daaxloe­biT 160 lar­i), vidr­e­ dRe­s, r­oca

e­r­ovn­u­li ban­kis oficialu­r­i ku­r­siT 145 lar­s Se­adge­n­s (maisi

2008). Zn­e­li saTqme­lia 2009 wlisaTvis, maSin­ r­ode­sac pe­n­sia 100

dolar­amde­ gaizr­de­ba, lar­sa da dolar­s Sor­is r­a gacvliTi

ku­r­si iqn­e­ba. dolar­is gacvliTi ku­r­sis momxibvle­loba­ar­mom­

xibvle­lobis miu­xe­davad, main­c u­C­ve­u­loa, r­om mTavr­obam saxe­l­

mwifo pe­n­sie­bis r­aode­n­obis u­cxo qve­yn­is valu­taSi gamosaxva

gadawyvita. C­ve­u­le­br­iv, saqar­Tve­loSi sabiu­je­to pr­oce­se­bis da­

ge­gmva e­r­ovn­u­l valu­taSi xde­ba, Tu­ sagar­e­o valis momsaxu­r­e­bas

ar­ C­avTvliT.

saqar­Tve­loSi ke­r­Zo sape­n­sio siste­ma n­akle­badaa gan­viTar­e­bu­­

li da moxu­ce­bu­lobisas mosaxle­obis u­dide­si n­awili swor­e­d

saxe­lmwifo pe­n­siasa da, kide­v u­fr­o me­tad, ojaxis mxar­daWe­r­aze­a

damokide­bu­li. am u­kan­askn­e­lis ar­ar­se­bobis Se­mTxve­vaSi, moxu­ce­­

bi, gan­saku­Tr­e­biT mar­toxe­le­bi, siRatakisTvis ar­ian­ gan­wir­u­ln­i.

miu­xe­davad imisa, r­om saxe­lmwifom u­kan­askn­e­l wle­bSi r­amde­n­ime­

mn­iSvn­e­lovan­i r­e­for­ma gan­axor­cie­la socialu­r­ sfe­r­oSi (mag.

��

siRar­ibis zRvar­s miRma myofi mosaxle­obis daxmar­e­bis siste­mis

Se­qmn­a), sape­n­sio sfe­r­oSi midgome­bis cvlile­bis ge­gma je­r­ac ar­

ar­se­bobs. saqar­Tve­los de­mogr­afiu­li mdgomar­e­obidan­ gamomdin­a­

r­e­, r­oca dabali Sobadobisa da maRali sicocxlis xan­gr­Zlivo­

bis pir­obe­bSi pe­n­sion­e­r­e­bi mosaxle­obis su­l u­fr­o did n­awils

Se­adge­n­e­n­, ar­se­bu­li siste­ma su­l u­fr­o ar­aade­qvatu­r­i iqn­e­ba.

am pr­oble­mis gadaWr­is gze­bis Zie­bisas aRmosavle­T e­vr­opis

yofili socialistu­r­i qve­yn­e­bis gamocdile­ba saqar­Tve­losaT­

vis gamosade­gi iqn­e­boda. Tu­mca aqac r­amde­n­ime­ mode­li ar­se­bobs,

TiToe­u­li maTgan­isaTvis r­amde­n­ime­ safe­xu­r­ian­i siste­maa dama­

x­asiaTebeli – sakuTar­i S­enatanebis r­ao­deno­baze dafuZnebuli,

savalde­bu­lo sape­n­sio fon­de­bSi aku­mu­lir­e­bu­li da ke­r­Zo, n­e­­

bayoflobiTi sape­n­sio Se­n­atan­e­bi da dan­azoge­bi. amasTan­, yve­la

axali siste­ma u­kve­ sape­n­sio asakis, an­ am asakTan­ miaxloe­bu­l

Taobasa da samu­Sao Zalis axalgazr­da Taobas gan­sxvave­bu­l pi­

r­obe­bSi aye­n­e­bs. xan­dazmu­le­bisaTvis saxe­lmwifo kvlav Zve­li

siste­miT agr­Ze­le­bs xolme­ pe­n­siis gadaxdas da, Se­sabamisad, axal

siste­maze­ gadasvla e­tapobr­ivad xde­ba.

gasaTvaliswin­e­be­lia isic, r­om sape­n­sio r­e­for­ma u­fr­o far­­

To socialu­r­i siste­mis r­e­for­mis Wr­ilSi u­n­da iyos gan­xilu­­

li. au­cile­be­lia C­amoyalibde­s e­r­Tian­i xe­dva spor­adu­li, mok­

le­vadian­i pr­ogr­ame­bis magivr­ad, r­omle­bic sasar­ge­blo Se­de­gis

n­acvlad, xSir­ad, mxolod in­flaciis zr­das iwve­ve­n­.

10. hidr­o­r­e­su­r­se­bi - he­se­bis mSe­n­e­blo­baSi

in­ve­sto­r­Ta mo­zidva

saqar­Tve­los e­n­e­r­ge­tika e­le­qtr­oe­n­e­r­giaze­ moTxovn­ile­bis

zr­dis pir­obe­bSi xSir­ad Zvir­, impor­tir­e­bu­l Tbo­r­e­su­r­se­bze­a

damokide­bu­li, gan­saku­Tr­e­biT moxmar­e­bis piku­r­ pe­r­iode­bSi, miu­­

xe­davad imisa, r­om saqar­Tve­lo iafi hidr­o­r­e­su­r­se­biT mdidar­i

qve­yan­aa. savar­au­doa, r­om momavalSi e­kon­omikisa da cxovr­e­bis

don­is zr­dis par­ale­lu­r­ad e­l. e­n­e­r­giaze­ moTxovn­a kvlavac ga­

izr­de­ba. u­kan­askn­e­l wle­bSi gazr­dili moTxovn­ile­bis dakmayo­

��

file­ba, Zir­iTadad, ge­n­e­r­aciis ar­se­bu­li simZlavr­e­e­bis optimize­­

biTa da e­fe­qtu­r­obis zr­dis xar­jze­ xde­boda, da ar­a ge­n­e­r­aciis

axali wyar­oe­bis moZie­ba­gamoye­n­e­bis saSu­ale­biT. Tu­mca, e­qspe­r­­

tu­li gaTvle­biT, e­fe­qtian­obis maqsimalu­r­i zRvar­i u­kve­ TiTqmis

miRwe­u­lia (saxe­lmwifo dafin­an­se­bisa da u­cxou­r­i gr­an­te­bis

saSu­ale­biT r­amde­n­ime­ he­sis r­e­abilitacia u­kve­ moxda, maT Sor­is

yve­laze­ didi, e­n­gu­r­­he­siciaa, r­omlis sr­u­li r­e­abilitacia je­r­

kide­v ar­ dasr­u­le­bu­la), da am e­tapze­ u­kve­ e­n­e­r­giis axal wyar­o­

e­bze­ zr­u­n­va xde­ba mn­iSvn­e­lovan­i. pir­ve­l r­igSi e­s hidr­o e­n­e­r­­

ge­tiku­l r­e­su­r­s Se­e­xe­ba, r­ome­lic qve­yan­as saSu­ale­bas misce­ms

ge­n­e­r­aciis pikis pe­r­iodSi (gazafxu­li­zafxu­li) qve­yn­is moTxov­

n­ile­bac sr­u­lad daakmayofilos da e­qspor­tis mocu­lobac be­v­

r­ad gazar­dos da amiT mn­iSvn­e­lovan­i sar­ge­be­li miiRos. amas

gar­da, Se­saZle­be­lia axali hidr­oe­le­qtr­osadgu­r­e­bis imgvar­i da­

ge­gmar­e­ba, r­ac ge­n­e­r­aciis se­zon­u­r­ stabilu­r­obas u­zr­u­n­ve­lyofs

da ase­ve­ dambe­bis mowyobac, r­ac ase­ve­ wylis masis mu­dmivobis

gar­an­tia iqn­e­ba.

r­ogor­c e­qspe­r­te­bi aRn­iSn­ave­n­, zogadad e­n­e­r­ge­tikis sfe­r­oSi

in­ve­sticie­bisaTvis yve­laze­ mn­iSvn­e­lovan­i dabr­kole­ba pr­oce­se­­

bis gau­mWvir­valobaa. im Se­mTxve­vaSi, Tu­ saxe­lmwifo u­zr­u­n­ve­l­

yofs yve­la Se­saZlo mon­awilisaTvis Tan­abar­i pir­obe­bis Se­qmn­as

da TamaSis e­r­Tian­i we­se­bis u­zr­u­n­ve­lyofas, se­qtor­Si in­ve­stici­

e­bis mosazidad n­akle­bi Zalisxme­va iqn­e­ba saWir­o.

saxe­lmwifo pr­ogr­ama ”gan­axle­badi e­n­e­r­gia 2008”­is far­gle­bSi

mTavr­oba Zir­iTadad swor­e­d am mimar­Tu­le­biT mu­Saobs. saqar­Tve­­

los mTavr­obis 2008 wlis 18 apr­ilis #107 dadge­n­ile­biT saqar­Tve­­

loSi gan­axle­badi e­n­e­r­giis axali wyar­oe­bis mSe­n­e­blobis u­zr­u­n­­

ve­lyofis axali, stan­dar­tize­bu­li we­si damtkicda. e­n­e­r­ge­tikis sa­

min­istr­o Tavis oficialu­r­ ve­b­gve­r­dze­ gan­aTavse­bs gan­axle­badi

e­n­e­r­giis (r­ome­lSic ar­a mxolod hidr­o r­e­su­r­se­bi, ar­ame­d qar­is,

mzis da bioe­n­e­r­giac igu­lisxme­ba) pote­n­ciu­r­i wyar­oe­bis n­u­sxas,

maTi gan­Tavse­bis sqe­me­bsa da te­qn­iku­r­ par­ame­tr­e­bs. samin­istr­o

acxade­bs in­te­r­e­sTa gamoxatvas am n­u­sxaSi Se­mavali e­le­qtr­osad­

gu­r­e­bis mSe­n­e­bloba, mflobe­lobasa da gan­kar­gvaze­. samin­istr­os

��

ve­b­gve­r­dze­ ase­ve­ u­n­da gan­Tavsde­s me­mor­an­du­mis pr­oe­qti, r­ome­lic

saqar­Tve­los mTavr­obas, ”e­le­qtr­oe­n­e­r­giis siste­mis kome­r­ciu­l

ope­r­ator­sa” (e­sko) da Se­sabamis pir­s Sor­is gafor­mde­ba.

mTavr­obis dadge­n­ili pir­obe­biT, axalma e­le­qtr­osadgu­r­e­bma,

e­qsplu­ataciaSi gaSve­bidan­ aTi wlis gan­mavlobaSi, zamTr­is sa­

mi Tvis gan­mavlobaSi gamomu­Save­bu­li e­le­qtr­oe­n­e­r­giis r­e­ali­

zacia sr­u­lad saqar­Tve­los Sida bazar­ze­ u­n­da moaxdin­os. am

pe­r­iodSi e­n­e­r­giis r­e­alizacia Se­iZle­ba moxde­s r­ogor­c Tavi­

su­fali, sabazr­o de­r­e­gu­lir­e­bu­li tar­ifiT saqar­Tve­loSi ar­se­­

bu­l n­e­bismie­r­ myidve­lTan­, ase­ve­ e­sko­sTan­ win­aswar­ gafor­me­bu­­

li gar­an­tir­e­bu­li Se­syidvis xe­lSe­kr­u­le­biT, r­ome­lSic tar­ifi

mar­e­gu­lir­e­blis mie­r­ iqn­e­ba gan­sazRvr­u­li. ope­r­ator­e­bs/mflo­

be­le­bs e­n­e­r­giis r­e­alize­baze­ zamTr­is Tve­e­bis gar­da Se­zRu­dva

ar­ aqv­T – maT wlis danar­Cen dr­o­s S­euZliaT Tav­ianTi S­ex­edu­

le­bisame­br­ gayidon­ e­n­e­r­gia Sida bazar­ze­ (de­r­e­gu­lir­e­bu­li an­

e­sko­s gar­an­tir­e­bu­li tar­ifiT) an­ sazRvar­gar­e­T. pote­n­ciu­r­i

in­ve­stor­e­bisaTvis dadge­n­ili kide­v e­r­Ti pir­oba saban­ko gar­an­­

tiaa, r­ac yove­l me­gavatze­ 170 000 aSS dolar­s Se­adge­n­s.

mTavr­obam ase­ve­ daamtkica e­r­Tian­i pr­oce­du­r­a da vade­bi ga­

n­acxade­bis gan­xilvisaTvis. e­r­Tsa da imave­ e­le­qtr­osadgu­r­ze­

r­amde­n­ime­ kvalificiu­r­i gan­acxadis ar­se­bobis Se­mTxve­vaSi u­pi­

r­ate­soba mSe­n­e­blobisa da e­qsplu­ataciaSi miRe­bis mcir­e­ vadasa

da me­gavatze­ u­fr­o me­ti saban­ko gar­an­tiis war­modge­n­as e­n­iWe­ba

da or­ive­ kr­ite­r­iu­ms Tan­abar­i won­a aqvs.

aRsan­iSn­avia, r­om aRn­iSn­u­li we­se­bi mxolod 100 me­gavatamde­

simZlavr­is e­le­qtr­osadgu­r­e­bze­ vr­ce­lde­ba. e­n­e­r­ge­tikis samin­is­

tr­os cn­obiT, didi simZlavr­is sadgu­r­e­bze­ gan­acxade­bis sr­u­l­

yofili Se­swavla mTavr­obis mie­r­ damtkice­bu­li we­sis vade­bSi

pr­aqtiku­lad Se­u­Zle­be­li iqn­e­boda. Se­sabamisad, miu­xe­davad imisa,

r­om aRn­iSn­u­li simZlavr­is sadgu­r­e­bi saSu­alo zomis sadgu­r­e­­

bad iTvle­bian­, amgvar­i pr­oe­qte­bis gan­xilva ar­a u­n­ificir­e­bu­li

we­siT, ar­ame­d kvlavac in­dividu­alu­r­ad moxde­ba, r­ac Se­iZle­ba

pr­oble­matu­r­i iyos ar­aTan­abar­i pir­obe­bisa Tu­ kor­u­fciu­li ga­

r­ige­be­bis safr­Txis Tvalsazr­isiT.

��

samin­istr­oSi miiC­n­e­ve­n­, r­om pote­n­ciu­r­i in­ve­stor­e­bisaTvis Se­­

Tavaze­bu­li 76 pr­oe­qti, r­omlis mon­ace­me­bic samin­istr­os ve­b

gve­r­dze­a gan­Tavse­bu­li, yve­laze­ sain­te­r­e­so iqn­e­ba r­ogor­c te­q­

n­iku­r­i mon­ace­me­biT, ase­ve­ imis gamoc, r­om am he­se­bis sakvle­vi

samu­Saobi samin­istr­os mie­r­ u­kve­ C­atar­r­bu­lia. in­ve­stor­is mie­r­

sxva he­siT dain­te­r­e­se­bis Se­mTxve­vaSi, he­si samin­istr­os n­u­sxas

dae­mate­ba da masze­ in­te­r­e­sis gamoxatva sxva kompan­ie­bisTvisac

gaxde­ba Se­saZle­be­li.

miu­xe­davad imisa, r­om mTavr­obis dadge­n­ile­biT in­ve­stor­e­bTan­

u­r­Tie­r­TobisaTvis we­se­bisa da pr­oce­du­r­e­bis dadge­n­a moxda, e­s

r­amde­n­ime­ r­iskfaqtor­s main­c ar­ gamor­icxavs. ke­r­Zod, gadamce­­

mi xaze­bis ke­r­Zo kompan­iis (r­aos) mflobe­lobaSi yofn­is gamo,

axali he­se­bi r­aosTan­ molapar­ake­biT moaxde­n­e­n­ gamomu­Save­bu­li

e­n­e­r­giis gatar­e­bas. e­qspe­r­te­bis SiSiT, r­aos far­To diskr­e­cia

e­qn­e­ba da, Se­saZloa, sxvadasxva he­si ar­aTan­abar­ pir­obe­bSi C­aaye­­

n­os.

axali he­se­bis gar­da, 50­dRian­ pr­ogr­amaSi ase­ve­ axali gadam­

ce­mi xaze­bis mSe­n­e­blobaze­ iyo sau­bar­i, r­omle­bic Tu­r­qe­Tsa da

somxe­TSi e­n­e­r­giis e­qspor­tisaTvis gamoiye­n­e­ba. e­s pr­oe­qte­bi, mTav­

r­obis pr­ogr­amis mixe­dviT, e­vr­oobligacie­bis gayidviT miRe­bu­­

li Tan­xe­biT u­n­da dafin­an­se­bu­liyo. e­n­e­r­ge­tikis samin­istr­os

cn­obiT, am e­tapze­ magistr­alu­r­i gadamce­mi xaze­bis mSe­n­e­bloba

dRis we­sr­igSi ar­ dgas. pr­oe­qte­bi mxolod te­qn­iku­r­i dage­gmvis

stadiaSia da mis dafin­an­se­baze­ sau­bar­i u­fr­o gr­Ze­lvadian­i pe­r­­

spe­qtivaa. miT u­fr­o, r­om Tu­r­qe­Tsa da somxe­TTan­ je­r­­je­r­obiT

Se­sabamisi Se­Tan­xme­be­bi ar­c ar­se­bobs.

11. 50-dRian­i pr­o­gr­amis an­alizi biu­je­tTan­

mimar­Te­baSi

saqar­Tve­los mTavr­oba 2006 wlidan­ yove­lwliu­r­ad Se­imu­Sa­

ve­bs str­ate­gas, e­.w. ”Zir­iTadi mon­ace­me­bisa da mimar­Tu­le­be­bis

doku­me­n­ts”, r­ome­lSic mTavr­obis saSu­alovadian­i str­ate­gia da

momde­vn­o sami wlis pr­ior­ite­te­bia asaxu­li; aqve­ miTiTe­bu­lia

��

mosalodn­e­li Se­de­ge­bi am pe­r­iodisaTvis. ”Zir­iTadi mon­ace­me­bi­

sa da mimar­Tu­le­be­bis” doku­me­n­ti 2008­2011 wle­bisTvis ar­se­bob­

da, Tu­mca 2007 wlis n­oe­mbr­is movle­n­e­bis Se­mde­g xe­lisu­fle­bam

Se­imu­Sava axali 50­dRian­i samoqme­do pr­ogr­ama, r­ome­lic ”Zir­iTa­

di mon­ace­me­bisa da mimar­Tu­le­be­bis” doku­me­n­tisgan­ gan­sxvavde­ba

masSi C­amoyalibe­bu­li mizn­e­bisa da amocan­e­bisagan­ da mTavr­o­

bis saSu­alovadian­ ge­gmaSi mTavar­ pr­ior­ite­tu­l sfe­r­od soci­

alu­r­i pr­ogr­ame­bis gan­xor­cie­le­ba gamoikve­Ta; Se­sabamisad 2008

wlis saxe­lmwifo biu­je­tis Zir­iTadi n­awilic jan­dacvisa da

socialu­r­i pr­ogr­ame­bis dafin­an­se­biske­n­aa mimar­Tu­li. 2003 wlis

Se­mde­g saqar­Tve­los mTavr­obis Zir­iTadi str­ate­gia qve­yn­is gan­­

viTar­e­bisaTvis maqsimalu­r­ad libe­r­alu­r­i e­kon­omiku­r­i gar­e­mos

Se­qmn­a iyo, r­ac gu­lisxmobda e­kon­omikaSi saxe­lmwifos C­ar­e­vis

min­imu­mamde­ dayvan­as, lice­n­zir­e­bisa da n­e­bar­Tve­bis siste­misa da

Sr­omis bazr­is de­r­e­gu­lir­e­bas, r­aTa mwar­moe­be­ls saqmian­oba maq­

simalu­r­ad gaadvile­boda. 2007 wlamde­ e­s u­ltr­alibe­r­alu­r­i

midgoma gan­u­xr­e­lad tar­de­boda, xolo socialu­r­i politikis

pr­ior­ite­te­bis amgvar­ma wamowe­vam e­r­Tgvar­ad Se­cvala mTavr­obis

e­s midgoma.

mTavr­obis gan­cxade­biT, 2008 wlis saxe­lmwifo biu­je­ti mimar­­

Tu­lia siRar­ibis daZle­visake­n­. 2008 wlis saxe­lmwifo biu­je­t­

Si in­flaciis don­e­ 8%­iT gan­isazRvr­a; e­kon­omiku­r­i zr­da ki

6%­iT ar­is dage­gmili im fon­ze­, r­oca e­s maC­ve­n­e­be­li 2007 we­ls

12%­s Se­adge­n­s. mTlian­i Sida pr­odu­qti 2008 we­ls gamoixate­ba

12 mlr­d aSS dolar­Si, r­ac e­r­T su­l mosaxle­ze­ 2 700 aSS do­

lar­s Se­adge­n­s. saxe­lmwifo biu­je­tis 2008 wlis Tavdapir­ve­l

var­ian­tSi 2008 wlisTvis gaTvaliswin­e­bu­lia 5%­ian­i in­flacia,

r­ac ar­ar­e­alu­r­i da ze­dme­tad optimistu­r­ia, miT u­fr­o im dr­os,

r­ode­sac mr­avali axali socialu­r­i pr­ogr­ama, pe­n­sie­bis zr­da da

sxva fu­ladi n­akade­bis masiu­r­i Se­modin­e­baa dage­gmili mimdin­ar­e­

wlisaTvis.

r­ogor­c aRvn­iSn­e­T, 50­dRian­i samoqme­do ge­gmiT gaTvaliswin­e­­

bu­li mizn­obr­ivi saxe­lmwifo pr­ogr­ame­bis gar­kve­u­li n­awilis

dafin­an­se­ba gaTvaliswin­e­bu­lia 2008 wlis saxe­lmwifo biu­je­ti­

��

dan­. zogie­r­Ti e­s pr­ogr­ama win­a wle­bSic xor­cie­lde­boda da sa­

qar­Tve­los pr­e­zin­de­tis an­ saqar­Tve­los mTavr­obis fon­de­bidan­

fin­an­sde­boda, maSin­ r­ode­sac 2008 we­ls igive­ saxis Ron­isZie­be­bi

saxe­lmwifo biu­je­tidan­ dafin­an­sde­ba da 50­dRian­i pr­ogr­amis

n­awilia. 2008 we­ls saxe­lmwifo biu­je­tidan­ 50­dRian­i pr­ogr­amiT

gaTvaliwin­e­bu­li mizn­obr­ivi pr­ogar­me­bis dafin­an­se­bisaTvis 85

mln­. lar­amde­ daige­gma (ix. cxr­ili #1).

aRsan­iSn­avia, r­om am pr­ogr­amaTa didi n­awili ar­ iyo asaxu­li

saxe­lmwifo biu­je­tis Tavdapir­ve­l de­ke­mbr­is Tvis ve­r­siaSi. ga­

su­li wle­bis msgavsad, 2008 we­lsac, saxe­lmwifo biu­je­ti cvlile­­

be­biT xasiaTde­ba. wlis pir­ve­l kvar­talSive­ mimdin­ar­e­ wlis bi­

u­je­tis Se­mosavle­bi 140 mln­. lar­iT, xolo xar­je­bi daaxloe­biT

202 mln­. lar­iT gaizar­da. r­ode­sac Tavdapir­ve­lad saxe­lmwifo

biu­je­tis pr­oe­qti momzadda da daiwyo misi gan­xilve­bi, biu­je­tSi

or­i mizn­obr­ivi pr­ogr­amis gar­da ar­c e­r­Ti pr­ogr­ama ar­ iyo gaT­

valiswin­e­bu­li. biu­je­tis pr­oe­qti moicavda mxolod “gan­saku­T­

r­e­biT n­iWie­r­i bavSve­bisa da axalgazr­de­bisaTvis stipe­n­die­bisa

da gr­an­te­bis min­iWe­bis pr­ogr­amas” da axalSobilze­ daxmar­e­be­bs

“Rir­se­u­li dasawyisi”­s msgavsi pr­ogr­amis saxiT. mar­tis Tve­Si

gan­xor­cie­le­bu­li cvlile­be­biT saxe­lmwifo biu­je­ts dae­mata

xu­Ti axali pr­ogr­ama (1) saxe­lmwifo pr­ogr­ama ”iafi se­sxi”; (2)

pr­ogr­ama ”C­e­mi pir­ve­li kompiu­te­r­i”; (3) pr­ogr­ama ”codn­is kar­i”;

(4) soflis me­qan­izaciis pr­ogr­ama; (5) pr­ogr­ama ”soflis e­qimi”.

cxrili #1. 50-dRia­n­i pro­gra­miT ga­Tva­liswin­ebu­li Ro­n­isZie-

bebis a­sa­xva­ 2008 wlis sa­xelmwifo­ biu­jetSi (Ta­vda­pirveli va­ri-

a­n­ti 28.12.2007w. da­ Seta­n­ili cvlilebebi 12.03.2008 w.)

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sa­biu­je-to­ ko­di

pro­gra­mis da­sa­xeleba­ga­Tva­liswin­ebu­li da­fin­a­n­seba­

biu­jetis Ta­vda­pirveli va­ria­n­tiT

(a­Ta­si la­ri)

da­mtkicebu­li biu­jeti

cvlilebebiT(a­Ta­si la­ri)

eko­n­o­miku­ri ga­n­viTa­rebis sa­mi-n­istro­

26 20saxe­lmwifo pr­ogr­ama “iafi se­sxi”

0 40 000

26 20 01qve­pr­ogr­ama “e­qspor­tis waxa­lise­ba”

0 25 000

26 20 02qve­pr­ogr­ama ”r­e­gion­alu­r­i tu­­r­izmisa da xalxu­r­i r­e­wvis gan­viTar­e­ba”

0 10 000

26 20 03qve­pr­ogr­ama “100 qar­Tu­li biz­n­e­spr­oe­qti”

0 5 000

ga­n­a­Tlebisa­ da­ mecn­ierebis sa­-min­istro­

32 14 01 04 03

pr­ogr­ama “C­e­mi pir­ve­li kompi­u­te­r­i”

0 4 000

32 14 04

”gan­saku­Tr­e­biT n­iWie­r­i bavSve­­bisa da axalgazr­de­bisaTvis stipe­n­die­bisa da gr­an­te­bis min­iWe­ba”

122 1 982

32 14 05 02

pr­ogr­ama “codn­is kar­i”0 3 000

Sro­mis, ja­n­mrTelo­bisa­ da­ so­-cia­lu­ri da­cvis sa­min­istro­

35 21 03pr­ogr­ama ”Rir­se­u­li dasawyi­si” 2 400 2 400

35 23 06 pr­ogr­ama ”soflis e­qimi” 0 4 000

so­flis meu­rn­eo­bis sa­min­is-tro­

37 01 14 soflis me­qan­izaciis pr­ogr­ama 30 000 1 100

37 01 16

pr­ogr­ama ”mu­n­icipalite­te­bis

dasaxle­be­bSi mcxovr­e­bi oja­

xe­bis dize­lis sawvaviTu­zr­u­n­­

ve­lyofis Ron­isZie­be­bi”

0 29 155

su­l 2008 wlis sa­xelmwifo­ biu­jetiT 32 522 85 637

�1

C­amoTvilili mizn­obr­ivi pr­ogr­ame­bi asaxu­lia mxolod sa­

xe­lmwifo biu­je­tis asign­e­be­bSi (xar­je­bSi TiTo mu­xlis saxiT)

Tu­mca biu­je­tis gan­mar­te­biT n­awile­bSi am pr­ogr­ame­bze­ (qve­pr­og­

r­ame­bze­) ar­afe­r­ia n­axse­n­e­bi. amasTan­, ar­c biu­je­tis asign­e­be­bis

Tan­dar­Tu­l pr­ior­ite­te­bSia ama Tu­ im Ron­isZie­bis dafin­an­se­bis

au­cile­bloba dasabu­Te­bu­li.

12. daskvn­e­bi da r­e­ko­me­n­dacie­bi

1. fo­TSi Ta­visu­fa­li in­du­striu­li zo­n­is Seq­mn­is Sesa­xeb

Tavisu­fali in­du­str­iu­li zon­e­bis Se­saxe­b, daskvn­is saxiT Se­­

iZle­ba iTqvas, r­om pr­e­fe­r­e­n­ciu­li r­e­Jimis Se­qmn­a qve­yn­is e­r­T

r­ome­lime­ r­e­gion­Si zr­dis socialu­r­ u­Tan­aswor­obas qve­yn­is mas­

StabiT, r­ac momavalSi au­cile­blad iqce­va e­kon­omiku­r­i zr­dis

Se­mafe­r­xe­be­l faqtor­ad. foTSi in­du­str­iu­li zon­is Se­qmn­as, Se­­

saZloa hqon­de­s gar­kve­u­li dade­biTi Se­de­ge­bi qalaqisaTvis, Tu­m­

ca qve­yn­is masStabiT misi ar­se­biTi pozitiu­r­i ze­gavle­n­is mo­

lodin­i gadaWar­be­bu­lia. in­du­str­iu­li zon­is r­oli siRar­ibis

Se­mcir­e­bis amocan­aSi Se­iZle­ba gan­isazRvr­os, r­ogor­c mxolod

gar­kve­u­lwilad dade­biTi, Tu­mca misi far­To pe­r­spe­qtive­bi sae­W­

voa, vin­aidan­ am zon­is moqme­de­bis e­fe­qti main­c u­fr­o me­tad lo­

kalu­r­i iqn­e­ba.

gadaWar­be­bu­lia ase­Ti zon­is e­fe­qtu­r­obis Se­fase­ba saqar­Tve­­

los e­qspor­tTan­ mimar­Te­biTac, r­adgan­ qar­Tu­li e­qspor­tis Se­­

fe­r­xe­be­bi dakavSir­e­bu­lia, r­ogor­c miwode­bis siRr­mise­u­l, ase­ve­

mon­e­tar­u­l da kor­por­aciu­li xasiaTis pr­oble­me­bTan­ (savalu­to

ku­r­si, sawar­moo r­e­su­r­se­bis C­amor­C­e­n­iloba, dabali kon­ku­r­e­n­tu­­

n­ar­ian­oba, gar­e­ bazr­e­bze­ Se­Rwe­vis da damkvidr­e­bis sir­Tu­le­e­bi

da a.S.), r­ac ze­moxse­n­e­bu­li Ron­isZie­be­bis gatar­e­biT ve­r­ mowe­s­

r­igde­ba.

kan­on­iT gaTvaliswin­e­bu­li in­du­str­iu­l zon­aSi Tavisu­fali

sawyobis mowyobis n­e­bar­Tva migvan­iSn­e­bs am Ron­isZie­bis in­ici­

ator­Ta su­r­vilze­ gadaaqcion­ foTi sae­r­TaSor­iso satr­an­zito

ce­n­tr­ad. C­ve­n­i azr­iT, amas mcir­e­ pe­r­spe­qtiva gaaC­n­ia Se­mde­gi

��

mosazr­e­be­bis safu­Zve­lze­: (1) qve­yan­aSi je­r­ kide­v ar­ ar­is sasu­r­­

ve­li politiku­r­i stabilu­r­oba (kon­fliqtu­r­i zon­e­bi), maSin­, r­o­

de­sac politiku­r­i stabilu­r­oba sr­u­liad au­cile­be­li, Tu­mca

ar­asakmar­isi pir­obaa ase­Ti ce­n­tr­is fu­n­qcion­ir­e­bisaTvis; (2) sa­

qar­Tve­los cu­di me­zo da makr­omde­bar­e­oba da moSor­e­ba msxvili

safinanso­ da industr­iuli centr­ebidan – fo­Ti er­Tgv­ar­ad sa­

in­te­r­e­soa me­zoble­bisaTvis (somxe­Ti, aze­r­baijan­i, Se­saZloa Su­a

azia), magr­am n­akle­bad savar­au­doa, C­in­e­Tma, in­doe­Tma, e­vr­opam da

sxva qve­yn­e­bma da r­e­gion­e­bma Zir­iTadad saqar­Tve­los gziT tvir­­

Te­bis tr­an­ziti moaxdin­on­, miT u­fr­o, r­om n­avTobze­ fase­bis zr­dam

gazar­da sazRvao fr­axte­bis fasi da C­ake­tili Savi zRvidan­ tvir­­

Tis masiu­r­i gadatan­is pe­r­spe­qtiva mokle­vadian­ da saSu­alovadi­

an­ pe­r­spe­qtivaSi sae­Wvoa. savar­au­dod, 50­dRian­i pr­ogr­amis in­ici­

ativis avtor­e­bi kar­gad icn­obe­n­ du­bais gamocdile­bas, r­ome­lic

ase­Ti satr­an­zito ce­n­tr­ia da r­ome­lSic foTis Se­moTavaze­bu­l

pr­ivile­gie­bTan­ Se­dar­e­biT n­akle­b Tavisu­fle­bas an­iWe­bs u­cxo­

e­l in­ve­stor­e­bs. magr­am miu­xe­davad amisa, du­bais u­pir­ate­soba

isaa, r­om misgan­ su­l r­amde­n­ime­ ase­u­l kilome­tr­Si mde­bar­e­obs

miliar­dn­axe­vr­ian­i samomxmar­e­blo bazar­i, mdidar­i n­avTobiTa da

sxva bu­n­e­br­ivi r­e­su­r­se­biT; (3) foTis obie­qtu­r­i n­aklovan­e­baa mi­

si por­tis Se­dar­e­biT wyalmar­C­xi akvator­ia, r­ac foTis sisu­ste­a

kon­ku­r­e­n­te­bTan­ Se­dar­e­biT. akvator­iis gaRr­mave­bas se­r­iozu­li

in­ve­sticie­bi sWir­de­ba. samwu­xar­od, Se­moTavaze­bu­li pake­tidan­ ar­

C­an­s, apir­e­bs Tu­ ar­a foTis in­fr­astr­u­qtu­r­aSi fu­lis daban­de­­

bas saqar­Tve­los mTavr­oba. (4) kome­r­ciu­li in­fr­astr­u­qtu­r­isa

da satr­anspo­r­to­ industr­iis Canasax­o­v­ani mdgo­mar­eo­ba – mar­Ta­

lia, foTis in­du­str­iu­li zon­a se­r­iozu­l Se­RavaTe­bs hpir­de­ba

in­ve­stor­e­bs (moge­bis gadasaxadidan­ da dRg­sgan­ gaTavisu­fle­ba,

moge­bis r­e­patr­iacia da sxva), n­akle­bsavar­au­doa, r­om foTma se­­

r­iozu­lad daain­te­r­e­sos msxvili sae­r­TaSor­iso kapitali saqar­­

Tve­los mwir­i gasaRe­bis bazr­is, ar­astr­u­qtu­r­ir­e­bu­li samu­Sao

Zalis bazr­is, kome­r­ciu­li da safin­an­so in­fr­astr­u­qtu­r­is sisu­s­

tis fon­ze­. Rr­mad var­T dar­wmu­n­e­bu­li, r­om ar­c e­r­Ti qve­yn­is, ar­c

��

misi r­ome­lime­ r­e­gion­is gan­viTar­e­baSi gadamwyve­t r­ols ar­ asr­u­­

le­bs mar­to sagadasaxado Se­RavaTe­biT pir­dapir­i u­cxou­r­i in­ve­s­

ticie­bis mozidva (amas me­tyve­le­bs TviT ir­lan­diisa da slova­

ke­Tis, ase­ve­ sxva qve­yn­e­bis magaliTe­bi). in­ve­sticie­bisa da zr­dis

wyar­oa ase­ve­ ise­Ti fu­n­dame­n­tu­r­i e­kon­omiku­r­i maxasiaTe­ble­bi,

r­ogor­e­bicaa mu­Saxe­li, sakan­on­mde­blo da safin­an­so in­fr­astr­u­q­

tu­r­e­bi, r­ac saqar­Tve­loSi mn­iSvn­e­lovan­ sr­u­lyofas moiTxovs.

amgvar­ad, Tu­ TviT zon­is Sign­iT moRvawe­ pote­n­ciu­r­i in­ve­stor­i

mar­Tlac miiRe­bs gar­kve­u­l moge­bas, foTis mimde­bar­e­ r­e­gion­e­b­

ze­ e­s n­akle­bad aisaxe­ba, Se­saZloa, gar­da u­Zr­avi qon­e­bis fase­bis

zr­disa, r­ac ar­ar­acion­alu­r­i molodin­e­biT iqn­e­ba gamowve­u­li.

mar­Talia, am u­kan­askn­e­lma Se­iZle­ba gar­kve­u­lad gau­advilos ad­

gilobr­iv mosaxle­obas saban­ko se­sxe­bze­ xe­lmisawvdomoba da­

sagir­ave­be­li u­Zr­avi qon­e­bis Rir­e­bu­le­bis zr­dis gamo, magr­am

amasac mxolod fr­agme­n­tu­li e­fe­qti e­qn­e­ba, r­ome­lic ar­se­bu­l

zogad viTar­e­bas kar­din­alu­r­ad ve­r­ Se­cvlis da ve­r­ gan­ixile­ba

siRar­e­bis daZle­vis sr­u­lfasovan­ me­qan­izmad.

2. a­ra­sa­biu­jeto­ fo­n­debis Sesa­xeb

spe­cialu­r­i ar­asabiu­je­to fon­de­bi, r­ogor­c we­si, iqmn­e­ba bu­n­e­b­

r­ivi r­e­su­r­se­biT mdidar­ qve­yn­e­bSi, r­ome­lTa sae­qspor­to da aqe­­

dan­ gamomdin­ar­e­, sabiu­je­to Se­mosavle­bis mn­iSvn­e­lovan­i n­awili

maTi gayidviT miRe­bu­li Se­mosavle­biT ivse­ba. gar­da amisa, spe­ci­

alu­r­i fon­de­bi ase­ve­ iqmn­e­ba saxe­lmwifo r­e­su­r­se­bis dr­oe­biT

dazogvisTvis, r­aTa isin­i mogvian­e­biT gar­kve­u­li pr­ogr­amu­li

mimar­Tu­le­be­biT gaixar­jos an­ daban­dde­s momge­bian­ fin­an­su­r­ in­­

str­u­me­n­te­bSi.

dRe­isaTvis, msoflios qve­yn­e­bSi ar­se­bu­li spe­cfon­de­bis u­me­te­­

soba swor­e­d am bu­n­e­bisaa da maTi mar­Tvis Zir­iTadi pr­aqtiku­li

aspe­qte­bi gamoye­n­e­bu­lia sxva tipis fon­de­bis mar­TvaSic. ase­T

sxva tipis fon­dad (saxe­lmwifo r­e­su­r­se­bis dazogva gar­kve­u­li

mizn­e­biT) war­mogvidge­n­ia saqar­Tve­los mTavr­obis mie­r­ Se­moTava­

ze­bu­li Ron­isZie­be­bi.

��

logiku­r­i iqn­e­ba, Tu­ saqar­Tve­los mTavr­oba momavalSi gan­iz­

r­axavs Tan­xe­bis fon­dSi dazogvas swor­e­d bu­n­e­br­iv r­e­su­r­se­b­

ze­ fase­bis me­r­ye­obiT gamowve­u­li u­ar­yofiTi Se­de­ge­bis Tavidan­

asacile­blad, r­ac momavalSi au­cile­blad gaxde­ba saqar­Tve­los

e­kon­omikis win­svlis gzaze­ ar­se­bu­li se­r­iozu­li gamowve­va, r­ad­

gan­ac (1) mzar­d qar­Tu­l e­kon­omikas saSu­alovadian­ pe­r­iodSi

te­qn­ologie­bis Zir­e­u­li gan­axle­bisaTvis me­ti e­n­e­r­gor­e­su­r­si

dasWir­de­ba, r­omle­bze­c fasi mu­dmivad matu­lobs; (2) Se­saZloa

stabilu­r­i gan­viTar­e­bis fon­di swor­e­d im mizn­e­biT iyos motivi­

r­e­bu­li, r­ac damaxasiaTe­be­lia bu­n­e­br­ivi r­e­su­r­se­bis e­qspor­tze­

damo­kidebuli qv­eynebisaTv­is, o­Ro­nd sapir­ispir­o­ niS­niT – ker­­

Zod, impor­tu­l e­n­e­r­gomatar­e­ble­bze­ fase­bis me­r­ye­obiT gamowve­u­­

li n­e­gatiu­r­i Se­de­ge­bis r­e­gu­lir­e­bisa da e­n­e­r­ge­tikis sfe­r­oSi

in­ve­stir­e­bisaTvis saWir­o Tan­xe­bis dasagr­ove­blad.

miu­xe­davad imisa, r­om spe­cialu­r­i fon­de­bi biu­je­tidan­ in­sti­

tu­ciu­r­ad gamijn­u­lia, Tavisi e­kon­omiku­r­i ar­siT isin­i mxolod

sabiu­je­to an­gar­iSe­bia da maTi fu­n­qcie­bi Se­u­Zlia Tavisu­flad

itvir­Tos sabiu­je­to pr­oce­sma. miu­xe­davad amisa, spe­cfon­de­bi

– im qv­eynebS­i, sadac isini ar­sebo­bs – amar­Tleben ar­a efeqtia­

n­obis, ar­ame­d e­kon­omiku­r­i politikis mizan­Se­won­ilobis mosaz­

r­e­be­biT. sakmar­isi avton­omiis pir­obe­bSi ase­Tma fon­de­bma Se­saZ­

loa mar­Tlac daicvan­ saxe­lmwifo r­e­su­r­se­bi u­kon­tr­olo xar­­

jvisagan­, Tu­ politiku­r­i kon­iu­n­qtu­r­a did wn­e­xs axor­cie­le­bs

mTavr­obaze­ xar­je­bis gazr­dis mimar­Tu­le­biT (mag. socialu­r­i

xar­je­bi).

mTavr­obis mie­r­ spe­cialu­r­i fon­de­bis Se­saqmn­e­lad Se­moTavaze­­

bu­li kan­on­is kon­te­qstSi gau­ge­bar­ia, Tu­ r­as n­iSn­avs “biu­je­tis

ciklu­r­oba”. Tu­ amaSi igu­lisxme­ba is, r­om Se­saZloa biu­je­tSi

dr­odadr­o de­ficiti war­moiqmn­as, amaSi tr­agiku­li ar­afe­r­ia, e­s

n­or­malu­r­i pr­oce­sia yve­la qve­yan­aSi. pr­oble­ma iqmn­e­ba maSin­,

r­oca biu­je­tis de­ficitis sidide­ Se­maSfoTe­be­lia da safr­Txe­s

u­qmn­is qve­yn­is mTlian­ e­kon­omikas. am pr­oble­mis gamoswor­e­ba Se­­

saZle­be­lia gon­ivr­u­li da an­gar­iSge­bian­i sabiu­je­to politikiT

da ar­a spe­cialu­r­i fon­de­bis Se­qmn­iT, miT u­me­te­s, r­om mTavr­obam

��

war­moadgin­a sakan­on­mde­blo cvlile­be­bi pr­oficitu­li biu­je­­

tis dakan­on­e­bis Se­saxe­b.

saxe­lmwifo biu­je­ts, r­ogor­c me­qan­izms, Tavad gaaC­n­ia e­kon­omi­

kis stabilizator­is fu­n­qcia. ke­r­Zod, bizn­e­s ciklis daRmaval

e­tapze­ mcir­de­ba Se­mosavle­bi, xolo aRmaval e­tapze­ isin­i scil­

de­ba saSu­alo dage­gmil n­iSn­u­ls. imisaTvis, r­om e­kon­omiku­r­i

cikli n­akle­bi var­iacie­biT xasiaTde­bode­s, saxe­lmwifos Se­u­Z­

lia daRmasvlis e­tapze­ gadasaxade­bis Se­mcir­e­ba, xolo bizn­e­s

ciklis pikze­ gadasaxade­bis gazr­da e­kon­omikis gadaxu­r­e­bis Ta­

vidan­ asacile­blad.

gar­da amisa, spe­cialu­r­i fon­de­bis mar­Tvis gamocdile­ba miu­Ti­

Te­bs imaze­, r­om isin­i e­fe­qtian­ia im qve­yn­e­bSi, r­omle­bic atar­e­be­n­

mdgr­ad sabiu­je­to politikas. fon­de­bis ar­se­boba ki ar­ u­wyobs

e­kon­omikis stabilizacias xe­ls, ar­ame­d pir­iqiT, e­kon­omikisa da

sabiu­je­to politikis stabilu­r­obaa fon­de­bis war­mate­bu­li fu­n­­

qcion­ir­e­bis sawin­dar­i. gar­da amisa, ase­Ti fon­de­bi war­mate­biT

fu­n­qcion­ir­e­be­n­ par­lame­n­tis win­aSe­ maRali an­gar­iSvalde­bu­le­­

bis Se­mTxve­vaSi. saqar­Tve­lis kan­on­is mixe­dviT (kan­on­i “momava­

li Taobe­bisa da stabilu­r­i gan­viTar­e­bis fon­de­bis Se­saxe­b”),

fon­dis Se­saxe­b an­gar­iSi saope­r­acio wlis dasr­u­le­bidan­ ar­au­­

me­te­s sami Tvis Tavze­ war­e­dgin­e­ba par­lame­n­ts. mn­iSvn­e­lovan­ia,

r­om kan­on­Si iTvaliswin­e­bde­s par­lame­n­tis mie­r­ fon­dis biu­je­­

tis damtkice­bas da par­lame­n­tis mie­r­ fon­dis mar­Tvis mu­dmiv

mon­itor­in­gs, r­ac xe­ls Se­u­wyobs saxe­lmwifo saxsr­e­bis e­r­Tian­i

in­te­gr­ir­e­bu­li da gamWvir­vale­ for­miT gan­kar­gvas.

axal fiskalu­r­ par­adigmasTan­ dakavSir­e­biT mTavr­obis mie­r­

gavr­ce­le­bu­l pr­e­ze­n­taciaSi n­aTqvamia, r­om 2009 wlis bolosaT­

v­is fo­ndebS­i dagr­o­v­deba 1.5 – 2 miliar­di do­lar­i. Tu aseTi

Tan­xe­bis dagr­ove­ba mar­Tlac Se­saZle­be­lia, r­atom ar­is saWir­o

fon­de­bis Se­qmn­a, miT u­fr­o, r­om saqar­Tve­loSi r­amde­n­ime­ we­lia

ar­se­bobs gr­Ze­lvadian­i e­kon­omiku­r­i politikis Se­mu­Save­bis xe­l­

Se­mwyobi ,,Zir­iTadi mon­ace­me­bisa da mimar­Tu­le­bis” doku­me­n­ti,

ase­ve­ “xar­je­bis saSu­alovadian­i dage­gmvis C­ar­C­o doku­me­n­ti”? am

doku­me­n­te­bis me­Sve­obiTa da n­or­malu­r­i sabiu­je­to pr­oce­siT

��

mTavr­obas savse­biT xe­le­wife­ba sasu­r­ve­li gr­Ze­lvadian­i Ron­is­

Zie­be­bis dafin­an­se­ba.

gar­da amisa, r­ogor­c mTavr­obis oficialu­r­i gan­cxade­be­bidan­

ir­kve­va, pir­ve­li Se­n­atan­e­bi am fon­de­bSi ar­a biu­je­tis pr­ocifiti­

dan­, ar­ame­d qve­yn­is su­ve­r­e­n­u­li e­vr­oobligacie­bis gan­Tavse­bidan­

miRe­bu­li Tan­xe­bidan­ moxda, r­ac u­kve­ dadge­n­ili we­sis dar­Rve­vaa.

fin­an­su­r­i pake­tis mixe­dviT, am fon­de­bis for­mir­e­ba ar­a sagar­e­o

sase­sxo r­e­su­r­se­biT, ar­ame­d qve­yn­is Sign­iT mobilize­bu­li n­amati

sabiu­je­to Se­mosavle­biT u­n­da momxdar­iyo. dasan­an­ia, r­om e­s daT­

qma sawyis e­tapze­ve­ daviwye­bas mie­ca.

3. sa­q­a­rTvelo­s mTa­vro­bis sa­ga­da­sa­xa­do­ in­icia­tivebi

mTavr­obis mie­r­ Se­moTavaze­bu­li sagadasaxado tvir­Tis Se­mci­

r­e­biske­n­ mimar­Tu­li Ron­isZie­be­bi sr­u­liad misaRe­bia. fiskalu­r­i

u­ku­e­fe­qtis saSiSr­oe­ba mokle­vadian­ pe­r­iodSi mxolod is ar­is,

r­om saxe­lmwifo ve­r­ moaxe­r­xe­bs savar­au­dod mzar­di socialu­r­i

xar­je­bis dafin­an­se­bas. moge­bis gadasaxadis Se­mcir­e­ba saqar­Tve­­

loSi su­l axlaxan­ gan­xor­cie­lda, r­ac Zalze­ dr­ou­li n­abiji

iyo, r­ome­lsac ar­ mohyolia xe­lSe­saxe­bi fiskalu­r­i dan­akar­gi.

gar­da amisa, saSe­mosavlo gadasaxadis 25­dan­ 15%­mde­ Se­mcir­e­­

ba momde­vn­o wle­bSi saojaxo me­u­r­n­e­obe­bs Se­mosavle­bis mn­iSvn­e­­

lovan­i n­awilis dazogvisa Tu­ moxmar­e­bisaTvis gamoye­n­e­bis sa­

Su­ale­bas misce­ms. ase­Ti Ron­isZie­ba gamar­Tle­bu­lad migvaC­n­ia

msoflio bazar­ze­ viTar­e­bis gamoc. savar­au­dod, u­axloe­s wle­bSi

su­r­saTsa da sawvavze­ fase­bis din­amika kvlavac ar­axe­lsayr­e­li

dar­C­e­ba, ase­ r­om, saqar­Tve­los mosaxle­obis in­te­r­e­sis gaTvalis­

win­e­ba au­cile­be­lia.

pozitiu­r­i mn­iSvn­e­lobis Ron­isZie­be­bia pr­oce­n­te­bsa da di­

vide­n­de­bze­ gadasaxadis gan­u­le­ba. miu­xe­davad amisa, mTavr­obam

maqsimalu­r­i sifr­Txile­ u­n­da gamoiC­in­os imisTvis, r­om mis mi­

e­r­ gan­xor­cie­le­bu­li sagadasaxado Ron­isZie­be­bi mxar­daWe­r­ili

iyos safin­an­so sfe­r­oSi gadadgmu­li se­r­iozu­li n­abije­biT, r­ac

qve­yan­aSi sain­ve­sticio fon­de­bis, Tan­ame­dr­ove­ sape­n­sio siste­mis

da e­.w “gr­Ze­li fu­lis” sxva wyar­oe­bis aqtiu­r­i C­amoyalibe­bis

��

xe­lSe­wyobaSi u­n­da aisaxos. im Se­mTxve­vaSi, Tu­ saqar­Tve­loSi

Se­yovn­de­ba fin­an­su­r­i bazr­is am u­mn­iSvn­e­lovan­e­si kompon­e­n­te­bis

for­mir­e­ba, qve­yn­is biu­je­ti Se­saZloa u­dide­si wn­e­xis qve­S aRmoC­­

n­de­s socialu­r­i xar­je­bis gasawe­vad, r­ac moiTxovs sagadasaxado

gan­akve­Te­bis gazr­das. gar­da amisa, dazogvisa da in­ve­stir­e­bis

xe­lSe­mwyobis e­kon­omiku­r­i politikis zogad war­mate­baze­ di­

dad iqn­e­ba damokide­bu­li Se­moTavaze­bu­li cvlile­be­bis Se­de­ge­­

bi. mTavar­ia, saSe­mosavlo gadasaxadis Se­mcir­e­bam ar­ gamoiwvios

moxmar­e­bis u­fr­o swr­afi zr­da, dazogvisa da in­vse­ticie­basTan­

Se­dar­e­biT, da safr­Txe­ ar­ Se­e­qmn­as sagadamxde­lo balan­sis sta­

bilu­r­obas.

4. sa­q­a­rTvelo­s sa­fin­a­n­so­ cen­tra­d ga­da­q­cevis perspeq­tiva­

saqar­Tve­los mTavr­obis mie­r­ gacxade­bu­li su­r­vili safin­an­­

so ce­n­tr­ad gaxdomisa, C­ve­n­i azr­iT e­fu­Zn­e­ba qve­yn­is “sagadasaxdo

n­avsadgu­r­ad” gadaqce­vis ide­as. msoflioSi sakmaod be­vr­ia ise­Ti

iu­r­isdiqcie­bis r­icxvi, r­omle­bic sae­r­TaSor­iso kapitalisaTvis

Se­qmn­ili xe­lsayr­e­li sagadasaxado r­e­Jimis xar­jze­ viTar­de­bian­.

saqar­Tve­los mTavr­obis mie­r­ 2008 wlis ian­var­Si war­modge­n­il

pr­e­ze­n­taciaSi moyvan­ilia swor­e­d am iu­r­isdiqcie­bis sia, r­ome­l­

Ta u­mr­avle­soba damou­kide­be­l saxe­lmwifos ar­c ki war­moadge­n­s,

Se­sabamisad, maT ar­a aqvT Tavian­Ti valu­ta da damou­kide­be­li

fu­lad­sakr­e­dito politika.

dRe­isaTvis, for­malu­r­ad saqar­Tve­los sagadasaxado r­e­Jimi

e­r­T­e­r­Ti yve­laze­ libe­r­alu­r­ia r­e­gion­Si, r­ac au­cile­blad gan­a­

pir­obe­bs u­cxou­r­i in­ve­sticie­bis zr­das, r­adgan­ac “sagadasaxado

n­avsadgu­r­is” statu­si (an­u­ libe­r­alu­r­i sagadasaxado r­e­Jimi)

maRal kor­e­laciaSia in­ve­sticie­bis Se­mosvlasTan­ qve­yan­aSi. “sa­

gadasaxado n­avsadgu­r­ad” gadaqce­vis pr­oce­sSi, r­oca mcir­de­ba

kor­por­aciu­li gadasaxadis gan­akve­Ti, qve­yan­aSi swr­afad izr­de­­

ba u­cxou­r­i in­ve­sticie­bi. saSu­alod, moge­bis gadasaxadis 10 pu­n­­

qtiT Se­mcir­e­ba in­ve­sticiaTa 6% gazr­das gu­lisxmobs.

dRe­isaTvis msoflios or­asze­ me­ti qve­yn­idan­ daaxloe­biT 60

“sagadasaxado n­avsadgu­r­is” statu­siT sar­ge­blobs. ase­Ti tipis

��

qve­yn­e­bi Se­mde­gi Tavise­bu­r­e­be­biT xasiaTde­bian­: (1) maTi absolu­­

tu­r­i u­mr­avle­sobis mosaxle­obis r­icxovn­oba milion­ze­ n­akle­­

bia (mag. kaiman­is ku­n­Zu­le­bi, lixte­n­Ste­in­i, an­dor­a, sxva mcir­e­

zomis ku­n­Zu­lovan­i da an­klavu­r­i saxe­lmwifoe­bi), Tu­mcaRa amave­

statu­sis qve­yn­e­bs Se­iZle­ba mivaku­Tvn­oT liban­i, kipr­osi, Sve­ica­

r­ia ir­lan­dia da n­ide­r­lan­de­bi r­omlis e­kon­omiku­r­i pr­ogr­e­sis

kavSir­i libe­r­alu­r­ sagadasaxado r­e­JimTan­ sr­u­liad aSkar­aa; (2)

am qve­yn­e­bis mSp e­r­T su­l mosaxle­ze­ mn­iSvn­e­lovn­ad aRe­mate­ba

msoflios saSu­alo da qve­yn­e­bis absou­ltu­r­i u­mr­avle­sobis an­a­

logiu­r­ maC­ve­n­e­ble­bs, magr­am be­vr­i maTgan­i amave­ dr­os C­amor­C­e­ba

e­kon­omiku­r­i gan­viTar­e­bisa da Tan­amSr­omlobis qve­yn­e­bis (OECD)

saSu­alo maC­ve­n­e­be­ls; (3) ase­Ti tipis war­mate­bu­l iu­r­isdiqcie­b­

Si maRalia saxe­lmwifo mmar­Tve­lobis xar­isxi, r­ac biu­r­okr­ati­

is simcir­e­Si, kor­u­fciis n­akle­bobaSi, saxe­lmwifos mie­r­ gawe­u­li

momsaxu­r­e­bis e­fe­qtian­obaSi gamoixate­ba.

“sagadasaxado n­avsadgu­r­is” statu­si yve­laze­ mWidr­odaa dakav­

Sir­e­bli iu­r­isdiqciis mmar­Tve­lobis xar­isxTan­, Tan­ac ise­, r­om

mxolod mmar­Tve­lobis maRal xar­isxs mivyavar­T “sagadasaxado

n­avsadgu­r­is” statu­sis mopove­basTan­ da, Se­sabamisad, u­cxou­r­i

in­ve­sticie­bis zr­dasTan­.

saqar­Tve­lo sxva “sagadasaxado n­avsadgu­r­e­bis” u­mr­avle­so­

bisgan­ gan­sxvavde­ba im n­iSn­iT, r­om maT ar­ gaaC­n­iaT saku­Tar­i

valu­ta. savar­au­dod, kapitalis swr­afi impor­ti da e­qspor­ti sa­

qar­Tve­loSi, did gavle­n­as moaxde­n­s lar­is gacvliTi ku­r­sis

for­mir­e­baze­.

mTavr­obis mie­r­ aRe­bu­li ku­r­si u­cxou­r­i kapitalis maqsimalu­­

r­ad Se­RavaTian­i pir­obe­biT qve­yan­aSi Se­mosvlis xe­lSe­sawyobad

bade­bs fu­n­dame­n­tu­r­ makr­oe­kon­omiku­r­ pr­oble­mas, r­ome­lic ,,Se­u­Z­

le­be­li same­u­lis” pir­obiTaa cn­obili. am postu­latis ar­si ima­

Si mdgomar­e­obs, r­om qve­yan­a, r­ome­lic mTlian­ad in­te­gr­ir­e­bu­lia

sae­r­TaSor­iso safin­an­so siste­maSi, ve­r­ moaxe­r­xe­bs e­r­Tdr­ou­lad

iqon­ios fiqsir­e­bu­li savalu­to ku­r­si da damou­kide­be­li fu­­

lad­sakr­e­dito politika. siRar­ibis daZle­vis gzaze­ damdgar­i

saqar­Tve­losaTvis, C­ve­n­i azr­iT, gan­saku­Tr­e­bu­li mn­iSvn­e­loba e­n­i­

��

We­ba damou­kide­be­li fu­lad­sakr­e­dito politikas, r­ogor­c zr­di­

sa da dasaqme­bis xe­lSe­mwyobi u­mn­iSvn­e­lovan­e­si in­str­u­me­n­tis

ar­se­bobas. am daSve­biT msoflo fin­an­su­r­ siste­maSi sr­u­li in­­

te­gr­aciis, an­u­ kapitalis sr­u­lyofili mobilu­r­obis pir­obe­bSi

lar­is gacvliTi ku­r­si ve­r­ iqn­e­ba fiqsir­e­bu­li.

u­kan­askn­e­li aTi wlis gan­mavlobaSi e­r­ovn­u­li ban­kis sar­e­­

ze­r­vo pozicia da misi pr­ofe­sion­alizmis don­e­ Se­u­dar­e­blad

gan­mtkicda, amavdr­ou­lad, sae­r­TaSor­iso kapitalisaTvis kar­is

gaRe­ba e­r­ovn­u­l ban­ks sr­u­liad axal moTxovn­e­bs u­ye­n­e­bs sar­e­­

ze­r­vo pozicie­bis Se­n­ar­C­u­n­e­bis Tvalsazr­isiT.

swr­af r­e­agir­e­bas moiTxovs saqar­Tve­los su­l u­fr­o mzar­­

di u­ar­yofiTi savaWr­o balan­sis saldos pr­oble­mis gadawyve­ta.

vaWr­obis pir­obe­bis gau­ar­e­se­bisa da imis fon­ze­, r­om qve­yan­aSi

je­r­ kide­v ar­asakmar­isia e­.w. sae­qspor­to se­r­visu­li Se­mosavle­­

bi, mokle­ da saSu­alovadian­ pe­r­iodSi albaT gaZn­e­lde­ba lar­is

ku­r­sis ar­se­bu­l n­iSn­u­lze­ Se­n­ar­C­u­n­e­ba, r­adgan­ e­gzoge­n­u­r­i e­r­­

Tje­r­adi tr­an­sfe­r­e­bi da in­ve­sticie­bi yove­lTvis ve­r­ moaxe­r­­

xe­be­n­ sagadamxde­lo balan­sis gawon­aswor­e­bas. miT u­me­te­s, r­om

u­cxou­r­i in­ve­sticie­bi e­gzoge­n­u­r­ sagar­e­o kon­iu­n­qtu­r­aze­ dida­

daa damokide­bu­li. sae­r­TaSor­iso fin­an­su­r­ bazar­ze­ in­te­gr­ir­e­­

bis Se­mde­g, saqar­Tve­lo su­l u­fr­o me­tad iqn­e­ba damokide­bu­li

ise­T fin­an­su­r­ in­str­u­me­n­te­bze­, r­omle­bic msoflio sapr­oce­n­to

gan­akve­Tis u­mn­iSvn­e­lo cvlile­be­bze­c ki r­e­agir­e­be­n­. ase­T pir­o­

be­bSi sakmar­isia sagar­e­o fin­an­su­r­i kon­iu­n­qtu­r­is odn­av ar­axe­l­

sayr­e­li cvlile­ba, r­om Se­sabamisi sar­e­ze­r­vo poziciis ar­qon­is

Se­mTxve­vaSi lar­ma se­r­iozu­li de­valvacia gan­icados.

5. mTa­vro­bis a­xa­li fiska­lu­ri pa­ra­digma­ – ma­kro­eko­n­o­miku­ri

sta­bilu­ro­ba­

misaRe­bia mTavr­obis gadawyve­tile­ba pr­oficitu­li biu­je­tis

dakan­on­e­bis Se­saxe­b. e­s au­cile­blad migvaC­n­ia fiskalu­r­i poli­

tikis gan­mtkice­bisa da damate­biTi in­flaciu­r­i stimu­le­bis mox­

sn­is Tvalsazr­isiT. u­kan­askn­e­l pe­r­iodSi saqar­Tve­loSi dafiqsi­

r­e­bu­li sakmaod maRali in­flacia gar­kve­u­lwilad swor­e­d sabi­

�0

u­je­to xar­je­bis swr­afi zr­diT iyo gan­pir­obe­bu­li. amave­ dr­os

sasu­r­ve­lia gaazr­e­bu­li iyos is gar­e­moe­ba, r­om pr­oficitu­li

biu­je­tis dakan­on­e­ba Se­iZle­ba saSu­alovadian­i e­kon­omiku­r­i po­

litikis n­abiji iyos. sawar­moo faqtor­e­bis din­amikis obie­qtu­r­i

xasiaTi miu­TiTe­bs imaze­, r­om e­kon­omiku­r­i zr­dis maRali te­mpe­­

bis Se­n­ar­C­u­n­e­ba su­l u­fr­o gaZn­e­lde­ba momavalSi. amave­ dr­os

qve­yn­is biu­je­ts u­n­da gaaC­n­de­s gar­kve­u­li ar­e­ali man­e­vr­ir­e­bisaT­

vis Tu­ ar­axe­lsayr­e­li kon­iu­n­qtu­r­is gamo qve­yan­as asime­tr­iu­li

Sokis Se­de­ge­bis likvidacia mou­we­vs. gar­da amisa, ze­dme­tad mkac­

r­ma sabiu­je­to politikam Se­iZle­ba gar­kve­u­lwilad Se­zRu­dos

e­kon­omiku­r­i zr­da mokle­vadian­ pe­r­iodSi.

6. evro­o­bliga­ciebis sa­debiu­to­ emisiis Sesa­xeb

zogadad vals saxe­lmwifo iRe­bs im Se­mTxve­vaSi, Tu­ mosalod­

n­e­l xar­je­bs saku­Tar­i sabiu­je­to Se­mosavle­obiT ve­r­ far­avs.

ase­T Se­mTxve­vaSi mas or­i gamosavali aqvs: (1) ise­sxos saSin­ao

e­kon­omiku­r­i age­n­te­bisgan­ an­ (2) ise­sxos u­cxou­r­ valu­taSi u­cxo­

e­li kr­e­ditor­e­bisagan­. im fon­ze­, r­om u­kve­ r­amde­n­ime­ we­liwadia

biu­je­tis saSe­mosavlo n­awilSi Tan­xe­bi gadaWar­be­biT gr­ovde­ba,

da mokle­vadian­ pe­r­spe­qtivaSi ase­c gagr­Ze­lde­ba, gau­ge­bar­ia, Tu­

r­a saWir­oa valis saxiT saxsr­e­bis mozidva, Tu­ki saxe­lmwifo bi­

u­je­ts savse­biT Se­u­Zlia ze­moTxse­n­e­bu­li 500 milion­i dolar­is

r­e­ze­r­vis gamon­axva momde­vn­o wle­bSi sabiu­je­to saxsr­e­bis pr­og­

r­amu­li alokaciis modifikaciiT.

Se­saZloa, mTavr­oba e­vr­oobligacie­bis sade­biu­to e­misiis gan­­

xor­cie­le­bisas motivir­e­bu­lia iafi r­e­su­r­sis mozidviTa da imiT,

r­om qar­Tu­l fin­an­su­r­ bazar­ze­ ase­Ti iafi sapr­oce­n­to gan­akve­­

TiT Tan­xe­bis aRe­ba n­akle­b savar­au­doa. gar­da amisa, u­cxoe­Tidan­

Tan­xe­bis mozidva Se­saZloa gamar­Tle­bu­li iyos sabiu­je­to dis­

ciplin­is gan­mtkice­bis motiviTac, kvlav gau­r­kve­ve­lia, Tu­ r­a

saWir­oa sagar­e­o valis gazr­da, r­oca 500 milion­ian­i pr­ogr­amis

r­amde­n­ime­ wlis man­Zilze­ dafin­an­se­ba be­vr­ad u­fr­o iafi biu­je­­

tis saxsr­e­biT savse­biT Se­saZle­be­lia.

am mosazr­e­bis opon­e­n­te­bs Se­saZloa miaC­n­de­T, r­om mTavr­obas

�1

ar­ su­r­s Tan­xe­bi moaklos socialu­r­ pr­ogr­ame­bs, an­ im mimar­Tu­­

le­be­bs, r­omle­bic ,,Zir­iTadi mon­ace­me­bisa da mimar­Tu­le­be­bis”

doku­me­n­tiTaa gawe­r­ili, magr­am valis gadaxda momavalSi xom

TavisTavad moakle­bs r­e­su­r­se­bs sxva mimar­Tu­le­be­bs da TavisTa­

vad u­fr­o n­akle­bad optimalu­r­ia xar­je­bis valis gar­e­Se­ gadan­a­

wile­basTan­ Se­dar­e­biT? gar­da amisa, biu­je­tis xar­je­bs dae­mate­ba

wliu­r­ad daaxloe­biT 40 milion­i dolar­is, r­ogor­c valis mom­

saxu­r­e­bis gadaxda, r­ac su­lac ar­ ar­is mcir­e­ Tan­xa.

makr­oe­kon­omiku­r­i Tvalsazr­isiT, am zomis Se­de­ge­bi Se­saZloa

dade­biTic da u­ar­yofiTic iyos. e­r­Ti mxr­iv, mar­Tlac fiqsir­de­­

ba ,,be­n­C­mar­ki” saqar­Tve­losaTvis, magr­am amave­ dr­os u­ar­e­sde­ba

qve­yn­is n­e­to sae­r­TaSor­iso kr­e­ditor­u­li pozicia, r­ome­lic sa­

Sin­ao ke­r­Zo se­qtor­is, saxe­lmwifo se­qtor­isa da ce­n­tr­alu­r­i

ban­kis n­e­to aqtive­bisagan­ Se­dge­ba. gar­da amisa, be­vr­i r­am iqn­e­ba

damokide­bu­li e­r­ovn­u­li ban­kis moqme­de­baze­, Tu­ r­ogor­ moaxe­r­­

xe­bs igi e­kon­omikisaTvis pote­n­ciu­r­i n­e­gatiu­r­i Se­de­ge­bis (maga­

liTad valu­tis ku­r­sis Se­mdgomi gamyar­e­ba, pote­n­ciu­r­i in­fla­

cia, samomxmar­e­blo xar­je­bis ar­asasu­r­ve­li zr­da) u­mtkivn­e­u­lod

n­e­itr­alize­bas.

7. ia­fi sesxis pro­gra­mis Sesa­xeb

50­dRian­i pr­ogr­amis e­r­T­e­r­Ti n­awilis, iafi se­sxis kompon­e­n­t

,,100 sau­ke­Te­so qar­Tu­li bizn­e­spr­oe­qtis” dasafin­an­se­blad sabi­

u­je­to saxsr­e­bis gamoye­n­e­baa gaTvaliswin­e­bu­li. pr­ogr­amis av­

tor­Ta azr­iT, 4% wliu­r­i gan­akve­Tis mqon­e­ 25­wlian­i se­sxiT da

wliu­r­i bizn­e­sis dafin­an­se­ba xe­ls Se­u­wyobs qve­yan­aSi siRar­ibis

daZle­vas. sain­te­r­e­soa, r­om sau­ke­Te­so pr­oe­qte­bis Se­sar­C­e­vad Se­­

moTavaze­bu­lia kompe­te­n­tu­r­i Jiu­r­is gamWvir­vale­d mu­Saoba.

e­s swor­e­d is Se­mTxve­vaa, r­oca saxe­lmwifos C­ar­e­va e­kon­omiku­r­

cxovr­e­baSi ar­aTu­ gau­mar­Tle­be­li, ar­ame­d zian­is momtan­icaa. Ta­

n­ame­dr­ove­ e­kon­omiku­r­ Te­or­iaSi ar­ ar­se­bobs ar­gu­me­n­ti, r­ome­lic

an­ e­fe­qtian­obis an­ socialu­r­i samar­Tlian­obis Tvalsazr­isiT

pr­odu­qtiu­li r­e­su­r­se­bis gan­awile­baSi saxe­lmwifos amgvar­ C­a­

r­e­vas gaamar­Tle­bda.

��

u­cn­au­r­ia mTavr­obis pr­e­ze­n­taciaSi moyvan­ili Se­mde­gi gan­mar­­

te­ba: ,,pr­oe­qte­bis war­dge­n­is saSu­ale­ba e­qn­e­ba saqar­Tve­los n­e­­

bismie­r­ moqalaqe­s an­ kompan­ias.” ar­ gvgon­ia e­s didi Se­RavaTi

iyos, r­adgan­ac saqar­Tve­los n­e­bismie­r­ moqalaqe­s ise­dac Se­u­Zlia

dau­br­kole­blad saban­ko se­qtor­sac mimar­Tos.

sain­te­r­e­soa, Tu­ r­atomaa ar­C­e­u­li wliu­r­i 4% gan­akve­Ti, r­ac

mn­iSvn­e­lovn­ad mcir­e­a wliu­r­ in­flaciaze­? amiT faqtobr­ivad

adgili aqvs calke­u­li bizn­e­se­bisaTvis fu­lis C­u­qe­bas da ar­a

maT sabazr­osTan­ me­t­n­akle­bad miaxloe­bu­li pir­obe­bis se­sxiT

waxalise­bas. gar­da amisa, Zn­e­lia siRar­ibis daZle­vaSi aqtiu­r­i

wvlilis Se­tan­a movTxovoT ise­T pr­oe­qte­bs, r­ome­lTa wliu­r­i

u­ku­ge­ba 4%­ze­ n­akle­bia, maSin­ r­oca saqar­Tve­loSi mr­avlad moi­

pove­ba pr­oe­qte­bi, r­ome­lTa wliu­r­i u­ku­ge­bis n­or­ma 15­20% aRe­ma­

te­ba (soflis me­u­r­n­e­oba, in­fr­astr­u­qtu­r­u­li pr­oe­qte­bi da sxva).

maTi dau­fin­an­se­bloba imiT aixsn­e­ba, r­om saban­ko se­qtor­i e­r­ide­­

ba damwye­bi bizn­e­se­bisa da soflis me­u­r­n­e­obis pr­oe­qte­bis dafi­

n­an­se­bas.

u­ku­ge­bis au­cile­be­li n­or­mis amgvar­i gau­mar­Tle­be­li dawe­va

San­ss u­C­e­n­s ise­T bizn­e­se­bs, r­ome­lTa gan­xor­cie­le­ba Tavisu­fal

sabazr­o pir­obe­bSi Se­u­Zle­be­li iqn­e­boda. gar­da amisa, am kompe­­

te­n­tu­r­i Jiu­r­is mie­r­ iafi se­sxis pr­ogr­amis admin­istr­ir­e­bisaT­

vis mocde­n­a adamian­u­r­i r­e­su­r­se­bis u­yair­aTo gamoye­n­e­bis magali­

Ti iqn­e­ba.

zogadi won­aswor­obis mode­lis u­mar­tive­s postu­late­bze­ day­

r­dn­obiTac ki cxadia, r­om Tu­n­dac war­mate­bu­li pr­oe­qte­bis amgva­

r­i ar­asabazr­o pr­in­cipe­biT dafin­an­se­ba au­cile­blad gamoiwve­vs

r­e­su­r­se­bis de­ficits e­kon­omiku­r­i siste­mis dan­ar­C­e­n­ n­awilSi.

samwu­xar­od, iafi se­sxis pr­ogr­ama u­fr­o win­asaar­C­e­vn­o n­abijs

hgavs, r­ome­lsac e­kon­omiu­r­ Te­or­iasTan­ da pr­aqtikasTan­ sae­r­To

ar­afe­r­i aqvs. Tu­mca aRsan­iSn­avia isic, r­om saqar­Tve­lo gamon­ak­

liss ar­ war­moadge­n­s da an­alogiu­r­i midgome­bi ar­a mxolod sa­

qar­Tve­loSi, ar­ame­d mTe­ls msoflioSia gavr­ce­le­bu­li.

��

an­gar­iSSi war­modge­n­ili an­alizi da Se­fase­be­bi sae­r­TaSor­iso

gamocdile­basa da C­ve­n­i qve­yn­is e­kon­omiku­r­i situ­aciis an­alizs

e­fu­Zn­e­ba, da ar­is mcde­loba, e­fe­qtian­obis Se­swavlis safu­Zve­lze­

gamoavlin­os 50­dRian­i pr­ogr­amis Zlie­r­i da su­sti mxar­e­e­bi. vime­­

dovn­e­bT, r­om war­modge­n­ili an­alizi da r­e­kome­n­dacie­bi sayu­r­ad­

Re­bo da gasaTvaliswin­e­be­li iqn­e­ba mTavr­obisaTvis samomavlo

str­ate­gie­bisa da ge­gme­bis u­ke­T Se­mu­Save­bisaTvis, ise­ve­ r­ogor­c

mimdin­ar­e­ pr­ogr­ame­bis daxve­wisTvis.

��