Shota Berekashvili, Chair of the Economic Policy Committee, delivered his address at the National Scientific Conference of Economists, which was held in conjunction with the Economist Day and the 30th anniversary of the introduction of the GEL into circulation. 

He accentuated key economic policy parameters, a sustainable and stable financial system, innovative technologies and AI application in a novel economic model. 

“Our currency has a lifespan of 30 years. It is not merely a symbolic jubilee but a defining factor of our nation’s sovereignty and economic autonomy. The world undergoes rapid evolution, leading to the transformation of global economic relations. The prevailing economic system, known as global capitalism, is undergoing transformation, and we are witnessing the emergence of multipolar economic centres, such as Southeast Asia and the Middle East-Gulf countries. These changes present both unprecedented opportunities and risks. Therefore, it is crucial for countries to formulate and implement national monetary and economic policies that align with their national interests. In this context, the Georgian Lari presents an opportunity for Georgia”, - he stated.

According to him, it is the proper economic policy in Georgia that implies the enhancement of economic ties with the traditional, as well as newly emerged economic centers.

“The judicious and equitable economic policy engendered unprecedented economic growth, leading to a doubling of the economic index and, as per the latest data, surpassing 100 bl. GEL for the first time. Furthermore, our realistic projections indicate that the GDP per capita will attain 10,000 USD by the end of 2025. It would be a significant advancement for the nation to establish itself as a high-net-worth country in the near future. However, sustaining and intensifying the growth trajectory necessitates, first and foremost, the accurate identification of the opportunities generated by the global transformations and their alignment with the national economic progress. At this juncture, the following strategic economic sectors are clearly outlined as pivotal for the country: energy, logistics, tourism, development, and high-tech industries”, - the reporter noted.

According to him, it is imperative to integrate artificial intelligence (AI) into economic sectors. This will not only enhance economic efficiency but also foster the development of new fields and generate novel job opportunities. By implementing AI, the country can optimise resource utilisation and accelerate business processes. 

"The formation of a new world economic model places significant emphasis on innovative technologies and the opportunities presented by artificial intelligence, which necessitate excessive energy resources. Consequently, nations that possess energy independence and access to affordable energy resources will gain a competitive advantage in the forthcoming economic competition. Therefore, it is crucial to prioritise the development of the energy sector, integrating it into the economic policy framework. While Georgia boasts a sustainable and stable financial system, further efforts are necessary to enhance its competitiveness and foster the growth of its capital markets. 
It is equally crucial to ensure that the education system aligns with the human resource requirements of the strategic economic sectors, whether vocational or scientific-educational. Consequently, the establishment of scientific research centres and the substantial allocation of financial resources should be integral components of the national economic policy. 

National development is underpinned by unwavering stability and peace. Peace is the bedrock upon which long-term strategies, innovative approaches, and competitive advantages for rapid growth can be established. I am confident that our collective knowledge, experience, and expertise will propel Georgia to unprecedented heights of progress”, - he asserted.

The Academician of the National Academy Of Sciences, Vladimir Papava; the President of the National Bank, Natia Turnava; the Deputy Economic and Sustainable Development Minister, Vakhtang Tsintsadze; the President of the Academy of Sciences, Roin Metreveli; and the former President of the National Bank, Nodar Javakhishvili also addressed the attendees.