“The price for the health is un valuable” Georgians have such a saying, though the current situation proofs that the world will have to pay a very high price for health. As long as the wave of the spread of the coronavirus shifts, new cases and the number of deaths are reduced, and the fog is cleaned, the assessment of economic impact and outcomes will become more and more urgent, economic issues and measures to reduce economic damage to the world and countries will be raised on the agenda.
It is clear at the stage, that important, timely and large-scale measures and changes will be required from the public sector, which in its turn relies on the large financial resources. As a result, budget expenditures increase and budget revenues decrease, which offsets government liabilities.
Overcoming the economic crisis caused by the Corona virus will have its winners and its losers for sure. However, it is controversial how can a fight for survival have its winners. “Winners” will be those countries that implement the most timely, targeted and effective measures – transform the existed challenges to realized opportunities and the faster increase the country's investment attractiveness.
There may also be some factors driving the creation or transformation of new businesses that will generate more revenue from the current situation as market demand arises - for such sectors as agriculture, food production, pharmaceuticals, medical equipment manufacturing and healthcare, as well as additional services, such as home delivery, electronic services. Modern technologies and innovations must be at the heart of it, and education must be unconditional basis for development.
In the process of recovery the need of the public private dialogue and joint cooperation is unconditional alternative. The issue which has been for so long initiated and facilitated by many international organizations and the local civil society organizations contributed to through many implemented projects.
With the cooperation of all sectors, effective management and leading the situation, high public and civic responsibility, this crisis will be overcome and the country will have the great experience, bad memories and new economic opportunities.
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