World Bank Documentdocuments.worldbank.org/curated/en/240221468274493469/pdf/489180... · erToblivi Zalisxmeva ufro metad gaafarToebs Cvens daxmarebas finansur seqtorsa da in-frastruqturaSi,

seqtemberi 2009

msoflio bankis jgufis saqarTvelosTan TanamSromlobis strategia

ekonomikuri zrdisa da ganviTarebisaTvis

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

WB456286

Typewritten Text

48918

IBRD/IDA IFC

valutis ekvivalentebi(valutis kursi 2009 wlis 14 ivnisis

mdgomareobiT)

valutis erTeuli=lari1 aSS dolari = 1.66 lari

mTavrobis fiskaluri weliwadi1 ianvridan 31 dekembramde

wonisa da zomis erTeulebimetruli sistema

Semoklebebi da akronimebi

ADB aziis ganviTarebis bankiBDD ZiriTadi maCveneblebi da mimarTulebebiBEEPS biznesgaremosa da sawarmoTa muSaobis kvlevaCIDA kanadis saerTaSoriso daxmarebis saagentoCIS damoukidebel saxelmwifoTa TanamegobrobaCPIA qveynis ekonomikuri politikisa da instituciuri sistemis SefasebaCPPR qveynis portfelis Sedegebis mimoxilva DFID gaerTianebuli samefos saerTaSoriso ganviTarebis departamentiCPS qveyanasTan TanamSromlobis strategiaCEM qveynis ekonomikuri memorandumiDPO ganviTarebis politikis gatarebaEBRD evropis rekonstruqciisa da ganviTarebis banki EIB evropuli investiciebis bankiESW ekonomikuri da dargobrivi samuSaoEU evrokavSiriFAO sakvebi produqtebisa da soflis meurneobis organizaciaFMO niderlandebis ganviTarebis finansuri kompaniaFSA finansuri seqtoris SefasebaIBRD rekonstruqciisa da ganviTarebis saerTaSoriso bankiIEG damoukidebel SemfasebelTa jgufiIFC saerTaSoriso safinanso korporaciaILCS integrirebuli sacxovrebeli pirobebis mimoxilvaIMF saerTaSoriso savaluto fondiIPSAS sajaro seqtoris aRricxvianobis saerTaSoriso standartebiIUCN bunebis dacvis saerTaSoriso kavSiriJNA saWiroebaTa erToblivi SefasebaJSA iaponiis saerTaSoriso TanamSromlobis saagentoJICA personalis erToblivi SefasebaKfW germaniis ganviTarebis banki

vice-prezidenti Sigeo kacu vice-prezidenti jirki koskeloregionuli direqtori asad alami regionuli direqtori nena stoiljkoviCijgufis xelmZRvaneli entoni Colsti jgufis xelmZRvaneli liza kestneri

MCC korporacia aTaswleulis gamowvevaMDG aTaswleulis ganviTarebis miznebiMIGA mravalmxrivi sainvesticio garantiebis saagentoOPIC kerZo ucxouri investiciebiOSCE evropis uSiSroebisa da TanamSromlobis organizacia/euToPEFA saxelmwifo xarjebi da finansuri angariSgebaPER saxelmwifo xarjebis mimoxilvaPIRLS saerTaSoriso kvleva wera-kiTxvis ganviTarebis Sesaxeb PRGF siRaribis daZlevisa da ekonomikuri zrdis xelSewyobis programaPRSO siRaribis daZlevis xelSewyobis RonisZiebebiPRSP siRaribis daZlevis xelSewyobis programaSBA SeTanxmeba sarezervo kreditekreditebis Sesaxeb IDA saerTaSoriso ganviTarebis saagento SIGA SvedeTis saerTaSoriso ganviTarebis saagentoTRACECA evropis-kavkasiis-aziis satransporto derefaniTIMSS maTematikisa da mecnierebis saerTaSoriso kvlevebis mimarTulebebiUNDP gaerTianebuli erebis ganviTarebis programaUNHCR gaerTianebuli erebis umaRlesi komisari ltolvilTa sakiTxebSi UNOMIG gaerTianebuli erebis damkvirvebelTa misia saqarTveloSiUSAID amerikis SeerTebuli Statebis saerTaSoriso ganviTarebis saagentoWBI msoflio bankis institutiWHO jandacvis msoflio organizaciaWTO msoflio savaWro organizaciaWWF veluri bunebis msoflio fondi

msoflio bankis jgufi

1

sarCevi

reziume . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

I. mdgomareoba qveyanaSi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6

a. Sesavali...............................................................................6 b. politikuri garemo..............................................................7 g. ekonomikuri garemo.............................................................7

d. makroekonomikuri perspeqtiva da sesxis mdgradoba.......... 12 e. siRaribe da aTaswleulis ganviTarebis miznebi……………………………………………… ................ 15 v. mmarTveloba da antikorufciuli programa ..................... 17

II. qveynis ganviTarebis programa da prioritetebi .................. 18

a. qveynis ganviTarebis programa .......................................... 18 b. ZiriTadi ekonomikuri da socialuri prioritetebi ......... 20

III. msoflio bankis jgufis strategia ........................................ 29

a CPS Zveli programis ganxorcieleba ................................ 29 b. CPS axali programa 2010-2013 fiskaluri wlebisaTvis ...... 33

IV. strategiis ganxorcieleba .................................................... 42

a. msoflio bankis jgufis instrumentebi ............................. 42

b. portfelis marTva da misi Sedegebi................................... 52

g. Sedegebze orientirebuli monitoringi da Sefaseba.......... 53 d. komunikaciis strategia..................................................... 54 e. TanamSromloba.................................................................. 55

V. kreditunarianoba da riskebi................................................. 58

2 3

cxrilebi

cxrili 1: saqarTvelo – ZiriTadi ekonomikuri

maCveneblebi 2003-2012 ................................................... 8cxrili 2: siRaribis gavrceleba 2007 wels (ojaxi%)......................16cxrili 3: biznesis warmoebis reitingi .........................................28cxrili 4: saqarTvelo – IBRD-sa da IDA-s mimdinare proeqtebi ......43cxrili 5: msoflio bankis jgufis dafinanseba qveyanasTan

partniorobis strategiisaTvis 2009 wlis ivlisidan

2013 wlis ivnisamde (milioni DOLAdolari)............................45cxrili 6: saqarTvelo – dagegmili axali sesxebi

(milioni dolari)..........................................................46

naxazebi

naxazi 1: ZiriTadi ekonomikuri maCveneblebi ..............................13naxazi 2: siRaribis donis prognozi (ojaxi%)..............................16naxazi 3: infrastruqturis xarisxis maCvenebeli:

saqarTvelo da ECA-s sxva qveynebi ........................... . . . ..25naxazi 4: 2004-2008 wlebis mniSvnelovani

energoavariebis ricxvi .................................................26naxazi 5: rogor Seesabameba msoflio bankis sxvadasxva

RonisZiebebi ori ZiriTadi mimarTulebis strategias ...45

blokebi

bloki 1: ZiriTadi araskredito momsaxurebis saxeebi:

analitikuri da sakonsultacio samsaxuri (AAA) da teqnikuri daxmareba..................................................49bloki 2: erToblivi banki - IFC-is da IDA/IBRD-is integrirebuli

programebi ...................................................................51bloki 3: msoflio bankis wamyvani roli investiciebis

koordinirebaSi saqarTvelos transportis seqtorSi ...56

danarTebi

danarTi 1: saqarTvelo – 2010-2013 fiskaluri ww, qveyanasTan

partniorobis strategiis Sedegebis matca.....................61danarTi 2: konsultaciebi CPS-is Sesaxeb………………………………………….........................................72danarTi 3: MDG-is farglebSi mosalodneli progresi……………………… .....................74CPS-is danarTebi............................................................................ 78

2 3

reziume

i. CPS–i 2010-2013 fiskalur wlebSi ganviTarebuli ormagi krizisis fonze momz-adda: 2008 wlis agvistoSi ruseTTan SeiaraRebuli konfliqtiT gamowveul kriziss glo-baluri ekonomikuri krizisi mohyva. aqedan gamomdinare, uaxloes periodSi msoflio bankisa da IFC-is erToblivi strategia mimarTulia konfliqtis Semdgomi sakiTxebisa da socialurad daucvel pirTa problemebisken, saSualovadian perspeqtivaSi ki miznad isa-xavs konkurentulobisa da zrdis faqtorebis gaZlierebas.

ii. ukve xuTi welia, rac saqarTveloSi seriozuli reformebi tardeba: mTavrobam ganagrZo korufciasTan brZola, sagrZnoblad gaaumjobesa garemo kerZo seqtorisaTvis da Seudga miznobrivi socialuri programis ganxorcielebas. dReisaTvis am programas um-aRlesi Sefaseba aqvs miRebuli qveynis ekonomikuri politikisa da instituciuri Sefase-bis (CPIA) reitingis mixedviT saerTaSoriso ganviTarebis asociaciis (IDA) farglebSi. am reformebiT qveyanam mniSvnelovani ucxouri investiciebi moizida, gaafarTova vaWroba da, Sedegad, 2008 wlis agvistos CaTvliT ekonomikurma zrdam saSualod wliur 9%-s gadaa-Warba.

iii. 2008 wlis agvistos konfliqtma da Semdgomma globalurma ekonomikurma krizis-ma reformebis dinamikac Secvala. marTalia, saqarTvelo kvlavac ganagrZobs reformebis aRebul kurss, magram globalurma ekonomikurma garemom SeiZleba veRar uzrunvelyos zrdis imgvarive stimulireba, rogorc es wina periodSi iyo. amis mizezi SeiZleba gaxdes ucxouri investiciebisa da vaWrobis donis dacema, rac uaxloes xanebSia mosalodneli. dReisaTvis arsebuli prognozis mixedviT, 2009 wlisaTvis mTliani Siga produqti (mSp) daaxloebiT 4%-iT Semcirdeba. es tendencia gagrZeldeba manam, sanam zrda 2010 wlisaTvis daaxloebiT 2%-iT mainc ar ganaxldeba.

iv. ormag kriziss saqarTvelos mTavrobam saTanado makroekonomikuri politika daupirispira. erovnuli valutis kursi aSS dolaris mimarT daaxloebiT 16%-iT daeca. ucxour valutasTan mimarTebiT Seiqmna saauqciono sistema. daaxloebiT 1,5 miliardi aSS dolariT gamyarda rogorc savaluto kursi, ise mTliani rezervebi da igi konfliqtamde periodis dones daubrunda.

rac Seexeba fiskalur mxares, xelisuflebam gaamkacra kontroli araprioritetul sa-xelmwifo xarjebze. donorTa resursebi man ori mimarTulebiT warmarTa: erTi mxriv, ZiriTadi samuSao adgilebis Semqmneli investiciebis anticikluri dafinansebis mxarda-Werisaken da, meore mxriv, socialuri usafrTxoebis sistemis gafarToebisaken. finansur seqtorSi SeCerda sarisko moklevadiani sabanko kreditebis gacema, Tumca, saSualovadian perspeqtivaSi kvlav rCeba riskis saSiSroeba.

v. donorTa xelSewyoba mimdinare periodis ekonomikuri da finansuri stabilu-robis uzrunvlyofis ZiriTadi elementia. 2008 wlis seqtemberSi saerTaSoriso savalu-to fondma (IMF) 750 milioni aSS dolaris sarezervo programa daamtkica, romelic axla-xan daaxloebiT 400 milioni aSS dolariT gaizarda. programa 2011 wlis Sua periodamde gagrZeldeba.

2008 wlis oqtomberSi donorTa saerTaSoriso sazogadoebam sami wliT erTdroulad 4.5 miliardi aSS dolari gamoyo saqarTvelos biujetis xelSesawyobad, socialuri dacvis sistemis gasafarToeblad da qveynis SigniT iZulebiT gadaadgilebuli mosaxleobis saWi-roebaTa dasakmayofileblad. gamoyofili Tanxa aseve gaTvaliswinebulia infrastruqtu-

4 5

ris ZiriTadi prioritetebisa da kerZo seqtorisaTvis, maT Soris, komerciuli bankebis mniSvnelovani xelSewyobisaTvis. Sepirebuli Tanxidan donorebma dReisaTvis ukve gaiRes daaxloebiT 1.7 miliardi aSS dolari.

vi. ramdenadac saqarTvelos axali, gardamavali ekonomikis qveynis statusi mieniWa, CPS-i msoflio bankis jgufis mier gamoyofil dafinansebas oTxi wlis ganmavlobaSi 740-900 milioni aSS dolaris odenobiT ganixilavs, rac Zlier sakonsultacio programazea damyarebuli.

finansuri paketi moicavs: a) IDA-15 paketis darCenil resurss (daaxloebiT 130 milioni aSS dolari); b) IBRD-is sesxs (daaxloebiT 266 milioni aSS dolari); g) IDA/IBRD-is mimdin-are proeqtebis xarjebs (daaxloebiT 135 milioni aSS dolari; d) IFC-is investiciebsa da sesxebs (daaxloebiT 210-360 milioni aSS dolari). Tu sakredito resursi aucilebelia investiciebis dasafinanseblad, ekonomikuri politikis mimarTulebebis Tu Sesabamisi RonisZiebebis arCevisas aranakleb mniSvnelovania saeqsperto momsaxureba da codnis gaziareba, rac socialurad daucvel pirTa problemebis mogvarebas da konkurentulo-bis amaRlebas Seuwyobs xels. saboloo jamSi, yovelive es mimarTulia saqarTvelos mier dasaxuli ganviTarebis donis misaRwevad.

vii. CPS-is programis mixedviT, IDA-sa da IBRD-is axali sesxebis udidesi nawili mimarTulia biujetis xelSewyobisken (gansakuTrebuli yuradReba eqceva reformebis Semdgom gaRrmavebas socialuri daxmarebis, biznesgaremosa da xarjebis struqturis sakiTxebSi), aseve infrastruqturisken (gansakuTrebiT gzebis mSeneblobis saqmeSi, rac aZlierebs Siga kavSirebsa da gamokveTs saqarTvelos, rogorc samxreT kavkasiaSi satran-zito koridoris, mniSvnelobas). yvela es RonisZieba, 11 mimdinare proeqtsa da IFC-is Zal-isxmevasTan erTad, CPS-is ori mimarTulebis ganxorcielebas emsaxureba: 1) umokles dro-Si ekonomikuri da fiskaluri stabilurobis mxardaWera, RaribTa da socialurad daucvel pirTa problemebis mogvareba da samuSao adgilebis Seqmna; 2) konkurentulobis Semdgomi gaZliereba da saeqsporto SesaZleblobaTa gafarToeba.

viii. IDA-dan IBRD-is pirobebze gadasvlis swrafi tempis gamo ganusazRvrelobis xarisxi garkveulwilad kidev imatebs amJamad gardamavali statusis mqone saqarTvelosaT-vis. resursebi sakmaod konservatiuli wesiT aris dagegmili, imgvari potenciuri SesaZle-blobebis gauTvaliswineblad, rogorebicaa: IDA-16-is farglebSi sesxebis kvlavindeburad xelmisawvdomoba da IBRD-is kreditebis Tanxis moculobaSi SesaZlo cvlilebebi.

mTavrobis anticikluri RonisZiebebis mxardasaWerad IDA-m da IBDR-ma arsebuli ekonomi-kuri vardnis pirobebSi winmswrebi grafikiT gamoyo kreditebi dagegmili paketis farg-lebSi. Sedegad, resursebis mimdinare dagegmarebis mixedviT msoflio banks ar aqvs Sesa-Zlebloba am CPS-is arsebobis momdevno wlebSi axali mniSvnelovani an Tundac umniSvnelo Tanxebi moiZios saqarTvelosaTvis. Tumca, saSualovadian periodSi IDA-asa da IBRD-is resursebis odenoba gadaxedvas eqvemdebareba situaciis Semdgomi ganviTarebis gaTval-iswinebiT. amdenad, damatebiTi fondebis gamoyofis SemTxvevaSi CPS programis kari kvla-vac Ria rCeba dafinansebis gasagrZeleblad transportis sferoSi, biujetis pirdapir mx-ardasaWerad da, aseve, im dargebSi, sadac aqtiuri iyo msoflio bankis dakrediteba, magram amJamad proeqtebis dafinanseba iwureba (aseTebia: municipaluri ganviTareba, ganaTleba, jandacva, soflis meurneoba da energetika).

ix. IFC–is programa ganagrZobs finansuri seqtoris xelSewyobas rogorc dafinanse-biT, ise sakonsultacio momsaxurebiT. agrobiznessa da infrastruqturaSi es programa

4 5

SesaZlebels gaxdis uZravi qonebis seqtoris dafinansebisa da sakonsultacio momsax-urebis balansis gadanawilebas kerZo seqtorsa da mTavrobas Soris. IFC-isa da IDA/IBRD-is erToblivi Zalisxmeva ufro metad gaafarToebs Cvens daxmarebas finansur seqtorsa da in-frastruqturaSi, gaaZlierebs biznesis warmoebis xelSemwyob pirobebs. IFC-is reagireba programis sididesa da Sinaarsze krizisis xangrZlivobiTa da misi xasiaTiT ganisazRvreba.

x. saeqsperto momsaxureba/codnis gaziareba wamyvan rols asrulebs msoflio ban-kis strategiaSi. saSualovadiani periodis efeqtiani fiskaluri koreqtirebis uzrunv-elsayofad udides mniSvnelobas iZens msoflio bankis analitikuri muSaoba da dialogi saxelmwifo xarjebis arCeviTobisa Tu siRaribis analizze. konfliqtis Semdgomi monitor-ingi da angariSgeba donorTa mier gaRebuli saxsrebis marTebuli miznobriobisa da koor-dinaciis saTanadod ganxorcielebis aucilebeli winapiroba iqneba. aseve, gadamwyveti iqneba: msoflio bankis Zalisxmeva, mimarTuli iZulebiT gadaadgilebul pirTa socialuri uzrunvelyofis gaumjobesebisa da ekonomikuri integraciisaken, IFC-is mxardaWera bizne-sisa da finansuri seqtoris garemos gasajansaReblad, dargobrivi muSaoba jandacvisa da ganaTlebis seqtorebSi, mzardi savaWro integraciis xelSewyoba da xarisxis standartebis Sesabamisobis uzrunvelyofa (gansakuTrebiT evrokavSiris aRmosavleTi qveynebis Tanam-Sromlobis xelSekrulebis farglebSi), aseve, mTavrobis daxmareba monitoringis, Sefase-bisa da, sazogadod, komunikaciebis gasaumjobeseblad.

xi. zemoT warmodgenili strategia mZime periodSi saxsrebis maqsimaluri efeqtiano-biT gamoyenebas iTvaliswinebs. Tumca, mas garkveuli riskebic axlavs, rogorebicaa: 1) krizisis mosalodnelze ufro gaxangrZlivebisa da gaRrmavebis potenciuri SesaZleblo-ba globaluri Tu Siga ekonomikuri da politikuri viTarebis gamo; 2) bankis SezRuduli SesaZleblobebi, momdevno wlebSi (mimdinare strategiis farglebSi) sapasuxo finansuri mxardaWera aRmouCinos saqarTvelos axali saWiroebebis dasafinanseblad IDA-s da IBRD-is resursebis winmswrebi ganrigis da IDA resursebis ganusazRvrelobis gamo; 3) krizisiT gamowveuli araSeRavaTiani sesxebis zrda.

valebis momsaxurebis gazrdilma valdebulebebma, maT Soris, valebis gadaxdis 2013 wlis pikma (krizisidan Senelebuli gamosvlis SemTxvevaSi) SesaZloa ekonomikuri zrdisaTvis da socialuri uzrunvelyofisaTvis sakvanZo xarjebis daufinansebloba gamoiwvios. gan-viTarebis strategiis Zireuli sakiTxebis farTo erovnul mxardaWeras da samTavrobo reformebis gagrZelebas ZaluZs am riskebis Serbileba. arsebuli riskebis pirobebSi ki aucilebelia Seiqmnas mZlavri baza ekonomikis aRdgenisaTvis, krizisis Semdgomi periodis ekonomikuri zrdisaTvis, saSualovadiani fiskaluri koreqtirebisaTvis, saxelmwifo xarjebis marTvis gaZlierebisaTvis valebis marTvisa da sagareo dafinansebis (maT Soris, donorTa daxmarebis) gaTvaliswinebiT. yovelive zemoaRniSnuli CPS-is ganxorcielebis ZiriTad elementebs Seadgens.

bankis TanamSromlebisaTvis mniSvnelovania aRmasrulebeli direqtorebis mosazreba Sem-deg sakiTxebze:• asaxavs Tu ara CPS-is ori prioriteti da maTTan dakavSirebuli RonisZiebebi saqarT-

velos ganviTarebis strategiaSi arsebul amocanebs.• aris Tu ara IFC-is, IDA-sa da IBRD-is programebi saTanadod integrirebuli da urT-

ierTSeTanxmebuli.• uzrunvelyofs Tu ara am strategiis Sedegobrivi struqtura sakmaris angariSgebas.

6 7

saqarTvelo: qveyanasTan TanamSromlobis strategia

I. mdgomareoba qveyanaSi

a. Sesavali

1. mocemuli dokumenti, CPS-i 2010-2013 fiskaluri wlebisaTvis, asaxavs mso-

flio bankis jgufis mier saqarTvelos mxardaWeras rogorc 2008 wlis agvistos ru-

seTTan SeiaraRebuli konfliqtisa da globaluri ekonomikuri krizisis dasaZl-

evad, ise niadagis mosamzadeblad momavali konkurentulobis gaZlierebisaTvis.

erT sul mosaxleze daaxloebiT 2480 aSS dolaris SemosavliT (2008 wels) saqarTvelo

dReisaTvis miCneulia saSualoze dabali Semosavlis mqone qveynad, romelic kreditebsa

da sesxebs IDA/IBRD-is fondebidan iRebs.

CPS-i iTvaliswinebs: IDA-15–is darCenili paketis srulad aTvisebas (daaxloebiT 130

milioni aSS dolari); oTxi fiskaluri wlis ganmavlobaSi miRebul IBRD-is saorienta-

cio sesxs (daaxloebiT 266 milioni aSS dolari) da IFC-is prognozirebul Tanxas (daax-

loebiT 210-360 milioni aSS dolari). yovelive amas emateba 2009 fiskaluri wlis bolos

gaucemeli Tanxa daaxloebiT 135 milioni aSS dolari. mosalodnelia, rom msoflio ban-

kis jgufis mTlianma dafinansebam am periodSi daaxloebiT 740-900 milioni aSS dolari

Seadginos. msoflio bankisa da IFC-is sesxebs daemateba sakonsultacio momsaxurebis

miznobrivi programa.

2. CPS-i xelmZRvanelobs Semdegi principebiT:

1) pirdapiri kavSiri saqarTvelos ganviTarebis programasTan, romelic aRbeWdilia

rogorc agvistos konfliqtamde dasaxul grZelvadian gegmaSi saqarTvelo siRaribis

gareSe, ise saWiroebaTa erTobliv SefasebaSi (JNA). aRniSnuli gegma saqarTvelos mTav-

robam moiwona da agvistos konfliqtis Semdeg SeimuSava axali, maqsimalurad koncentri-

rebuli gegma. es programa wardgenilia mTavrobis mier axlaxan gamocemul ZiriTad maCve-

neblebsa da mimarTulebebSi (BDD), sadac igi saSualovadiani periodis xarjebs gegmavs.

2) msoflio bankis jgufi mimarTavs SerCeviTobis princips, gamomdinare iqidan, Tu

romeli sferoebisaken warmarTaven donorebi da romel sferoebSi aqvs qveyanas Sesabam-

isi gamocdileba. JNA-s ukve aqvs daxvewili, sakmaod Zlieri struqtura, romelic do-

norTa Soris samuSaos ganawilebas iTvaliswinebs.

3) CPS-i moqnilad unda ganxorcieldes: gasaTvaliswinebelia rogorc saerTaSoriso

krizisis siRrmiTa da xangrZlivobiT gamowveuli riski, ise msoflio bankis mier sesxis

gacemis araTanabari done (rodesac krediti Tavdapirvelad didi porciebiT gaicema,

Semdgom ki mcirdeba). mTavrobis Txovnis gaTvaliswinebiT, mosalodnelia, rom saqarT-

velos sesxis paketis araTanabarma ganawilebam ufro maRali ekonomikuri da social-

uri mogeba moitanos, vidre Tanabarma ganawilebam. amave dros, amgvari araTanabari

ganawileba zrdis gaurkvevlobas CPS-is dasrulebis momdevno wlebSi arsebul viTare-

basTan dakavSirebiT. saSualovadian perspeqtivaSi yuradReba unda gamaxvildes msof-

lio bankis jgufis finansur SesaZleblobaze, raTa ar Seferxdes saqarTvelos mzardi

da kompleqsuri moTxovnebis dakmayofileba programis sawyisi periodis Semdeg. dabo-

los, koordinacia msoflio bankis jgufis SigniT saSualebas miscems banks, saTanadod

warmarTos IDA-s, IBRD-is da IFC-is resursebi da warmatebiT daagvirgvinos CPS-is strategiuli miznebis Sesruleba.

6 7

b. politikuri garemo

3. Sigapolitikur scenaze daZabulobaa. 2003 wlis vardebis revoluciis Sem-

dgomi oTxi weli saqarTvelosaTvis swrafi ekonomikuri zrdis periodi iyo. mTavrobis

mier gatarebul mniSvnelovan ekonomikur, socialur da mmarTvelobiT reformebs STam-

beWdavi Sedegebi mohqonda. 2007 wels Sigapolitikuri situacia daiZaba da demonstra-

ciebSi gadaizarda, rasac mTavrobam moklevadiani sagangebo mdgomareobis gamocxadebiT

upasuxa. Sedegad, 2008 wlis ianvarSi vadamdeli arCevnebi Catarda, romelSic prezident-

ma saakaSvilma gaimarjva da igi meore xuTwliani vadiT airCies. 2009 wels vi Tareba kvlav

daiZaba. zogierTi opoziciuri partia xelaxali arCevnebis daniSvnas moiTxovda. Tumca,

dReisaTvis situacia SedarebiT mSvidia, daZabulobac Semcirebulia da Cans, rom poli-

tikuri speqtris umravlesoba mxars uWers liberaluri ekonomikuri reformebis gagr-

Zelebas. arsebuli Sigapolitikuri daZabuloba moiTxovs farTo dialogs strategiuli

alternativisa da sainvesticio prioritetebis Taobaze rogorc mTavrobis SigniT, ise

mis gareT.

4. geopolitikuri TvalsazrisiT ruseT-saqarTvelos urTierToba kvlav

uaR resad daZabulia. 2008 wlis agvistoSi SeiaraRebuli konfliqti erT kviraze nakleb

xans gagrZelda. evrokavSiris Carevis Semdeg omi Sewyda, Tumca mxareebs Soris daZabu-

loba dRemde rCeba. evrokavSirma saqarTveloSi daaxloebiT 300 damkvirvebeli Camoiy-

vana (EUMM) da administraciul sazRvrebze ganalaga. OSCE-sTan, gaerTianebuli erebis

organizaciasa da amerikis SeerTebul StatebTan erTad, evrokavSiri JenevaSi awyobs gr-

Zelvadian molaparakebebs, romlebSic yvela dainteresebuli mxare iRebs monawileobas.

miuxedavad amisa, jer kidev ar Camoyalibebula konfliqtis daZlevis erToblivi xedva.

2009 wlis 15 ivniss OSCE-s monitoringis misiam Sewyvita moqmedeba saqarTveloSi. 2009

wlis bolomde igi datovebs qveyanas.

g. ekonomikuri garemo

5. saqarTvelom ukanaskneli xuTi wlis ganmavlobaSi safuZvliani ekonomi-

kuri, socialuri da mmarTvelobiTi reformebi ganaxorciela. kerZo seqtorTan

mimarTebiT reforma iTvaliswinebs mniSvnelovan progress saxelmwifos rolis re-

organizaciaSi, korufciis donis sagrZnob Semcirebas da biznesgaremos gaZlierebas (bi-

znesis warmoebis msoflio reitingiT 2006 wels saqarTvelo 112-e adgilze iyo, 2009 wels

ki me-15 adgilze gadmoinacvla). dReisaTvis saqarTvelos aqvs Ria, biznesis xelSemwyobi

ekonomika, sadac sabaJo tarifebi nulTan axlos dgas. nulTan miaxloebul sagadasaxa-

do tarifebTan erTad sagadasaxado Semosavlebi mTliani Siga produqtis daaxloebiT

25%-s Seadgens.

xarisxisa da efeqtianobis TvalsazrisiT, imedis momcemia Sors gamiznuli reformebi

ganaTlebis, janmrTelobisa da socialuri dacvis sferoebSi. marTvisa da biznesgare-

mos gaumjobesebam pirdapiri ucxouri investiciebis swrafi zrda gamoiwvia. qveyanaSi

damkvidrda ramdenime saerTaSoriso banki da mniSvnelovnad gaizarda sabanko Suamavlo-

ba. sufTa sesxebi, rogorc mSp-is procenti, gasammagda da krediti weliwadSi saSualod

50%-ze metad gaizarda.

2008 wlis aprilSi saqarTvelos mier gamoSvebul evroobligaciaze moTxovnam mis raode-

nobas gadaaWarba da igi EMBI-is indeqsis nawili gaxda. es iyo saqarTvelos warmatebuli

8 9

debiuti. qveynis politikisa da instituciuri Sefasebis (CPIA) mixedviT, wels IDA-s

qveynebs Soris saqarTvelos reitingi yvelaze maRali iyo msoflio bankSi.

6. am warmatebuli reformebis Sedegad ekonomika swrafad ganviTarda: 2004

wlidan 2008 wlis ivlisamde misi zrdis saSualo done wliurad 9%-ze maRali iyo.

warmatebulma struqturulma reformebma gamoiwvia sagadasaxado Semosavlebis swrafi

zrda; SesaZlebeli gaxda mzardi saxelmwifo xarjebis dafinanseba ZiriTadi infrastruq-

turis gasaumjobeseblad, eleqtroenergiis momsaxurebis aRsadgenad, ganaTlebisa

da janmrTelobis dacvis reformis gasatareblad da socialuri dacvis sistemis gasa-

Zliereblad.

ganviTarebis strategia mimarTuli iyo dinamikuri kerZo seqtoris Seqmnisken. Tavis

mxriv, mcire, magram efeqturi saxelmwifo seqtoris xelSewyobiT, igi investiciebis

zrdisa da dasaqmebis ZiriTad wyarod iqca da xeli Seuwyo korufciis aRmofxvras.

pirdapiri ucxouri investiciebi 2000-2004 wlebSi arsebuli saSualo wliuri 180 mil-

ioni aSS dolaridan 2007 wels daaxloebiT 1.7 miliard aSS dolaramde gaizarda, ramac

mniSvnelovani wvlili Seitana ekonomikis restruqturizaciisa da misi ganviTarebis

tempis stimulirebaSi (cxrili 1).

cxrili 1: saqarTvelo – ZiriTadi ekonomikuri maCveneblebi 2003-2012

mTl.erovn.Sem.1sul.(aSS$,atlasmeTodi)

umuSevrobis done

mSp-is zrda

CPI (per.das)

biujetis mTl.Semosavalebi *

aqedan sagadasaxado Semosavlebi

xarjebi da wminda dakrediteba

mimdinare xarjebi

kapit. xarjebi da wminda dakrediteba

biujetis balansi (-deficiti, + proficiti)

privatizaciis Semosavlebi

mimdinare angariSis balansi

saqonlisa da momsaxurebis eqxporti

saqonlisa da momsaxurebis importi

pirdapiri ucxouri investiciebi

(mil.$)

saerTaS. rezerv. (saq. da moms.import.Tve)

saerTaS. rezerv. (mil$)

mTl. saxelmw. seqt. vali 1/

aqedan sagar. saxelmw.vali

REER (2000 = 100) 2/

2003 2006 2007 2008w 2009p 2010p 2011p 2012p

860 1,670 2,090 2,480 2,600 2,700 2,700 2,780

11.5 13.6 13.3 14.0 16.5 16.0 15.0 14.0

11.1 9.4 12.3 2.1 -4.0 2.0 4.0 5.0

7.0 8.8 11.0 5.5 3.4 3.0 5.0 5.0

mSp procentebi garda aRniSnulisa

16.0 26.8 29.3 30.7 29.7 27.0 26.9 25.7

14.6 22.8 25.8 24.9 24.4 23.7 23.8 23.2

17.5 29.8 34.0 37.0 39.1 34.3 31.8 29.8

14.7 22.2 25.0 28.4 29.8 27.4 25.5 24.0

2.8 7.6 9.0 8.6 9.3 6.9 6.3 5.8

-1.5 -3.0 -4.7 -6.4 -9.4 -7.3 -4.9 -4.1

0.4 5.2 5.2 3.7 2.5 1.3 1.0 0.7

-9.6 -15.1 -19.7 -22.7 -16.1 -16.5 -15.9 -14.9

32.3 32.9 31.1 28.7 26.8 30.7 32.6 33.2

46.7 56.9 57.9 58.3 49.8 54.6 55.5 54.3

8.3 15.3 16.4 11.8 8.3 9.7 10.8 11.2

331 1,186 1,675 1511 910 1040 1220 1380

1.2 2.4 2.8 2.4 3.7 4.0 4.0 3.8

191 881 1,361 1,481 1,707 1,941 2,111 2,127

55.9 27.6 22.1 25.0 36.9 45.1 47.3 45.2

44.9 21.9 17.6 20.9 32.0 39.9 41.1 38.5

87.9 105.4 109.3 127.0

ar Seicavs Semosavlebs privatizaciidan.

SeniSvna: w _ winaswari; p _ prognozebi; per. das _ periodis dasasruli

1/ saxelmwifo da saxelmwifos mier garantirebuli. saxelmwifo seqtoris TiTqmis mTliani vali,

romelic sagareo vali araa, saqarTvelos erovnuli bankis mimarT vals warmoadgens.

2/ realuri efeqturi gacvliTi kursi. saSualo wliuri 2000 w, sabaziso weli. zrda niSnavs gamyarebas.

wyaro: saqarTvelos mTavroba, IMF-is da msoflio bankis Sefasebebi 2009 wlis ivlisis mdgomareobiT.

8 9

7. 2008 wlis agvistos konfliqtma saqarTvelos ekonomikas mniSvnelovani

dartyma miayena. konfliqtis Sedegad xelSesaxebi pirdapiri zarali ZiriTadad in-

frastruqturas miadga, Tumca, gacilebiT ufro saziano aRmoCnda Sedegi, romelic

riskis momatebul gancdasa da investorTa ndobis Sesustebas mohyva. saxelmwifo ob-

ligaciebis mocva 800 da 1000 sabazo punqtebs Soris meryeobs1; axali kreditis gacema

SeCerda; riskis winaSe dadga ucxouri sesxebi da pirdapiri ucxouri investiciebi (FDI), romlebic saqarTvelos ekonomikuri zrdis wamyvan Zalas Seadgens. wnexis qveS moeqca

saxelmwifo finansebi, rac Semosavlebis vardnam da finansebis aucileblobis (dazianeb-

uli infrastruqturis aRsadgenad, aseve socialuri uzrunvelyofisaTvis gazrdili

moTxovnebis dasakmayofileblad) kombinaciam gamoiwvia. ufro mwvaved dadga umuSevro-

bisa da siRaribis problemebi, romlebic qveynis SigniT iZulebiT gadaadgilebul pirTa

(IDP) axalma talRam warmoSva. konfliqtis dasawyisSi daaxloebiT 137 000-ma adamianma

miatova sacxovrebeli adgili. Tumca, mokle xanSi, 106 000 adamiani daubrunda Tavis

sacxovrebels da dazianebuli Tu dangreuli saxlebis safasuris Sesabamisi daxmare-

ba miiRo. danarCeni ki sacxovrebeli pirobebis gareSe darCa. msoflio bankma da gaer-

Tianebuli erebis organizaciam gaiTvaliswines mTavrobis Txovna da 2008 wlis agvistos

bolo/seqtemberis periodis saWiroebaTa erToblivi Sefasebis (JNA) momzadebas gauwies

koordinacia. JNA-s SefasebiT, aRdgeniTi programisaTvis saWiro finansuri moTxovnebi

daaxloebiT 3.8 miliard aSS dolars Seadgens. igi iTvaliswinebs biujetis xelSewyobas,

socialur dafinansebas, maT Soris, IDP-is saWiroebaTa dasakmayofileblad, da moicavs

uaRresad mniSvnelovan infrastruqturasa da finansur seqtorebs.

8. saerTaSoriso sazogadoebam droulad gamoyo saxsrebi finansuri mxar-

daWeris uzrunvelsayofad. IMF-is aRmasrulebelma sabWom daamtkica 750 milioni aSS

dolaris odenobis xelSekruleba sarezervo kreditebis Sesaxeb (SBA), romelic Semdgom

daaxloebiT 400 milioni aSS dolariT gaizarda. 2008 wlis oqtomberSi saerTaSoriso sa-

zogadoebam saqarTvelos sami wliT gamouyo 4.5 miliardi aSS dolari. daaxloebiT 800

milioni aSS dolari gansazRvruli iyo kerZo seqtorisaTvis/sabanko sistemisaTvis. es

aris IMF-is dafinansebis zemoT miTiTebuli Tanxa. konfliqtis Semdgomi pirveli eqvsi

Tvis ganmavlobaSi (JNA-s mixedviT es aris `gadaudebeli periodi~) donorTa mier gaRe-

bulma Tanxam 1.7 miliard aSS dolars gadaaWarba. aqedan 1 miliard aSS dolarze meti

ukve gadaxdilia. aman mTavrobas SesaZlebloba misca, JNA-s rekomendaciebis Sesabamisad

SeenarCunebina saxelmwifo xarjebi da gadaesinja orientrebi.

dRemde donorebisgan miRebuli resursebi ZiriTadad mimarTuli iyo gadaudebeli

samuSaoebisaken, maT Soris: biujetis gaZlierebisaken (415 milioni aSS dolari), so-

cialuri usafrTxoebis gafarToebisa da iZulebiT gadaadgilebul pirTa saWiroebaTa

dakmayofilebisaken (165 milioni aSS dolari). igive resursebi moxmarda dazianebuli

infrastruqturis reabilitacias da gadaudebel aRdgeniT samuSaoebs (442 milioni aSS

dolari). garda amisa, sabanko da kerZo seqtorebma sxva donorebisgan kvlav isargebles

mniSvnelovani dafinansebiT (686 milioni aSS dolari), riTac maT saSualeba miecaT, dae-

faraT ucxouri valebi da amgvarad gaemyarebinaT sabanko seqtoris stabiluroba. fin-

ansuri Semodinebebis garda, saqarTvelos, rogorc evrokavSiris samezoblo politikis

Tanamonawiles, sxva SeRavaTebic eZleva. 2009 wlis maisSi man xeli moawera SeTanxmebas

aRmosavleTis qveynebis TanamSromlobis Sesaxeb.

1. S&P-is mixedviT, saqarTvelos `oqros~ obligaciis reitingi 2009 wlis ivlisidan aris B, xolo Fitch-is mixedviT - B+.

10 11

9. amasTan, agvistos konfliqtis Sokis uaryofiTi ekonomikuri da socialur

gavlena globalurma ekonomikurma krizisma metad gaaRrmava. 2009 wlis ekonomikuri

zrdis prognozi -4.0%-mde Semcirda, kidev ufro gauaresebis albaTobiT. aRniSnuli

ekonomikuri vardna SedarebiT zomieria zogierT sxva ganviTarebad qveynebTan Sedare-

biT. amis mizezi, nawilobriv, saqarTvelos mzardi ekonomikuri mdgradobaa (ganpirobe-

buli 2004 wlidan dRemde ganxorcielebuli reformebiT) da nawilobriv donorebis mier

gaRebuli finansuri mxardaWera. izrdeba umuSevrobis done (2008 wels _ 14%, 2009 wlis

bolomde ki SeiZleba 17%-s miaRwios). aseve mosalodnelia siRaribis da socialuri uTa-

nasworobis matebac.

10. finansurma krizisma saqarTvelos ekonomikas oTxi ZiriTadi mimarTulebiT

daartya: pirdapiri ucxouri investiciebis (FDI) SemcirebiT, fuladi gzavnilebis

SekveciT, eqsportze moTxovnis dacemiT da sabanko sesxebis mkveTri vardniT. pirda-

piri investiciebis Semodineba 2007 wels arsebuli 1.7 miliardi aSS dolaridan 2009 wl-

isaTvis prognozirebul 900 milion aSS dolaramde daeca. 2008 wlisaTvis momsaxureTa

fuladi gzavnilebi 300 milion aSS dolars aRwevda, anu igi mTliani Siga produqtis (mSp-

is) TiTqmis 3%-s Seadgenda. 2008 wlis imave periodTan SedarebiT, 2009 wlis pirvel eqvs

TveSi es maCvenebeli TiTqmis 20%-iT Semcirda. 2009 wels eqsportis vardna daaxloebiT

8%-iTaa mosalodnelia realur gamosaxulebaSi da 20-25%-iT – nominalur gamosaxule-

baSi. amasTanave, 2009 wlis pirveli eqvsi Tvis ganmavlobaSi daeca bankebis mTliani aq-

tivebi, sesxebi da depozitebi, xolo uimedo (NPL) sesxebis moculobam imata.

11. saqarTvelos xelisuflebam yovelive amas Sesabamisi makroekonomikuri

politikiT upasuxa, rac mimarTuli iyo krizisis Sedegebis Sesustebisa da mak-

roekonomikuri stabilurobis SenarCunebisaken saSualovadian periodSi. upirve-

les yovlisa, zomebi iqna miRebuli sagareo ekonomikuri poziciis mdgradobis Sesanar-

Cuneblad. 2008 wlis noemberSi erovnuli valuta TiTqmis 16%-iT gaufasurda. valutis

kursis dacvis mizniT erovnuli bankma droebiTi Careva ganaxorciela savaluto ba-

zarze, Semdeg ki, 2009 wlis martidan savaluto auqcionebis meqanizmi SemoiRo, ramac

SesaZlebloba misca bazars, Tavad daeregulirebina valutis kursis saTanado done. 2009

wlis maisidan swored auqcionze dafuZnebuli sistema gaxda erTaderTi meqanizmi, rom-

lis meSveobiTac erovnuli banki valutis kursis regulirebas awarmoebs. dReisaTvis

valutis kursi SedarebiT stabiluria. amis erT-erTi mizezi ucxour valutaze moTx-

ovnis Semcirebaa importze Siga moTxovnis kvaldakval. amasTanave, miRebul iqna zomebi

savaluto rezervebis Sesavsebad da gasamyareblad. marTalia, agvistos konfliqtis

Sedegad valutaze seriozuli zewola ganxorcielda da saerTaSoriso rezervebmac dan-

aklisi ganicada, magram ukve 2009 wlis ivnisis bolosaTvis mTliani rezervebis Tanxam 1.5

miliardi aSS dolari Seadgina, rac agvistos konfliqtamde rezervebis arsebul dones

Seesabameboda. es, ZiriTadad, ganapiroba IMF-is mxardaWeram sarezervo kreditis (SBA) xelSekrulebis saSualebiT.

12. meore RonisZieba iyo xelisuflebis mier miRebuli anticikluri fiskaluri

zomebis gatareba, Tumca, amavdroulad, mTavrobam mkacri kontroli daawesa arapri-

oritetul saxelmwifo xarjebze. fiskaluri zomebis amosavali wertili donorTa mier

gaRebuli finansuri nakadis marTva iyo samuSao adgilebis warmomqmneli sainvesticio

proeqtebis gansaxorcieleblad da socialuri uzrunvelyofis sistemis gafarToebisa

10 11

da misi miznobrivi gamoyenebis gasaumjobeseblad. amave dros Seikveca an gadavadda nak-

lebmniSvnelovani xarjebi. prioritetuli socialuri da infrastruqturis saWiroebe-

bisaTvis aucilebeli resursebis gamosaTavisufleblad Semcirda samxedro xarjebic.

yovelive amas Tan axlda saxelmwifo xarjebis efeqtianad gamoyenebisaTvis aucilebeli

RonisZiebebi. miuxedavad imisa, rom 2009 wels mosalodnelia fiskaluri deficitis 9%-

ze zeviT gaRrmaveba (romlis umetesi nawilic finansdeba donorTa gazrdili mxardaW-

eriT), 2012 wlisaTvis mTavroba iRebs misi 4.0%-mde dawevis valdebulebas.

13. mesame, oficialuri sagareo resursebis mosazidad xelisufleba Seudga

mizanmimarTuli strategiis ganxorcielebas SedarebiT mcire moculobis kerZo fi-

nansuri nakadebis kompensaciisaTvis. man moaxerxa realurad moezida rogorc JNA-s

Sepirebuli resursebi, ise IMF-is sakredito resursi. saqarTvelo kriziss sagareo

valebis dabali doniT Sexvda, ramac axali sagareo sesxis aRebis SesaZlebloba misca.

es ganapiroba valebis sworma marTvam da ekonomikuri zrdis maRalma donem. mTliani

saxelmwifo vali 2003 wels arsebuli mSp-is 56%-dan 2007 wels 22%-mde daeca, sagareo

vali ki _ 17.6%-mde. aseve dabalia sagareo valis momsaxurebac, romelic 2008 wels eqs-

portis koeficientTan mimarTebiT daaxloebiT 3.4%-s Seadgenda.

miuxedavad imisa, rom 2008-09 wlebSi sesxebis nakadebis Semodineba kapitalis bazrebi-

dan, donorebisgan da saerTaSoriso safinanso organizaciebisgan qveynis sagareo vals

mSp-s daaxloebiT 40%-mde gazrdis, xelisufleba mainc mzadaa saSualovadian periodSi

ganaxorcielos fiskaluri cvlilebebi, romelebic saSualebas miscems mTavrobas, gaa-

taros saTanado fiskaluri da xarjviTi politika.

14. meoTxe, Sesabamisi RonisZiebebi ganxorcielda sabanko sistemis kredituna-

rianobisa da likvidurobis gasaZliereblad. saqarTvelos finansur sistemas ganagebs

sabanko seqtori, romlis mTliani aqtivebi mSp-is 46%-is ekvivalenturia2. 2008 wlis

agvistos konfliqtis pirveli ori kviris ganmavlobaSi grZeldeboda depozitebis

droebiTi gadineba, magram am problemis mosagvareblad miRebulma zomebma, maT Soris,

likvidurobis uzrunvelyofam, mniSvnelovani roli Seasrula depozitebis nawilo-

briv aRdgenaSi. amave dros moimata 90 dRiani vadagasuli uimedo sesxebis raodenobam

(dReisaTvis igi sesxebis 4.6 %-s Seadgens)3. IFC-is da EBRD-is xelSewyobiT moxerxda

sagareo valdebulebebis momsaxurebasTan dakavSirebuli riskebis moklevadiani ganei-

traleba. Tumca, Tu globaluri ekonomikuri krizisi gaxangrZlivda, saSualovadian

periodSi saSiSroeba kvlav SenarCundeba. 2009 wlis ivnisis bolos monacemebiT (erTi

wlis winandel monacemebTan SedarebiT) depozitebi 20%-mdea daweuli, wminda sesxebi

ki _ 11%-mde. es niSnavs, rom ndobis faqtori jer kidev dabalia krizisamde arsebul

donesTan SedarebiT, sesxze moTxovnileba ki _ Semcirebuli. Tavad bankebic naklebad

iCenen sesxebis gacemis survils: Tu sesxs gascemen, mxolod saukeTeso klientebze da,

amdenad, sesxis gacemazec xSirad uwevT uaris Tqma. Sedegad, sistemaSi likviduroba re-

alurad arsebobs, miuxedavad bankebis mier sesxebis SezRudulad gacemisa. Sesabamisad,

mTavroba eZebs am saxsrebis mobilizebis gzebs (magaliTad, saxazino valdebulebebis

gamoSvebiT).

2. sabanko seqtori moicavs 20 banks, saidanac 7-s ucxoelebi akontroleben. 8 banki pasuxismgebelia sesxebis daaxloebiT 90%-ze.3. 30-dRiani vadagadacilebisas NPL-i daaxloebiT 18%-ia, rac momavalSi stresis warmoSobis indika-toria.

12 13

15. 2008 wlis seqtembridan gansaxorcielebeli RonisZiebebi mimarTulia fin-

ansuri seqtoris stabilurobisaken. uimedo sesxebis zrdis SesaCereblad finansuri

zedamxedvelobis saagentom (FSA) sarisko portfelis mqone bankebs mosTxova, mTeli

ZalisxmeviT daeRwiaT Tavi sesxis gadauxdelobiT gamowveuli zaralisagan. zaralis

maCvenebeli 2008 wlis agvistoSi gacemuli mTeli sesxebis raodenobis 5%-dan 2009 wlis

ivlisisaTvis 12.2%-mde gaizarda.Ffinansurma sazedamxedvelo saagentom konservatiu-

li midgomiT Seafasa kapitalis Sesabamisoba da gazarda kapitalis moTxovna ucxouri

valutiT denominirebul sesxebze. ucxouri valutiT gacemuli sesxebis sagarantiod

man moiTxova damatebiTi kapitalis wardgena. 2009 wlis maisSi FSA-m Caatara strest-

estebi im xuTi udidesi bankis maCveneblebis safuZvelze, romelTac miaCndaT, rom maTi

kapitali da likviduroba mocemuli periodisaTvis gadaurCa valutis kursis vardnis

Sedegebs da uimedo sesxebis (NPL) matebas,ATumcaRa riski kvlav rCeba. ukve momzadebulia

kanonproeqti saqarTvelos erovnuli bankisa da FSA-s Serwymis Sesaxeb. amiT mTeli fi-

nansuri sistemisaTvis Seiqmneba saerTo maregulirebeli da zedamxedvelobiTi organo.

bankebi likvidurobas ufrTxildebian, raTa sesxebis gadauxdelobis gamo miyenebuli

ufro didi zaralis SemTxvevaSi Seqmnan maragi da ukeTesad moemzadon sagareo valdeb-

ulebebis dasafaravad. U

d. makroekonomikuri perspeqtiva da sesxis mdgradoba

16. globaluri ekonomikuri krizisi seriozul uaryofiT gavlenas axdens

agvistos konfliqtiT dasustebuli ekonomikis aRdgenisa da zrdis perspeqtiva-

ze. saqarTvelos ekonomikis zrdis prognozis mixedviT, 2009 wels 4%-iani ekonomiku-

ri vardnaa mosalodneli, rasac mohyveba zomieri zrda 2010 wels da aRmavali mateba

2011-2012 wlebSi (ix. cxrili 1). sagareo mdgomareobis ganusazRvreloba da bolo drois

Sigapolitikuri daZabulobis gavlena investorTa ganwyobaze uaryofiT elfers aZ-

levs ekonomikuri zrdis perspeqtivas. Tumca, prognozirebuli ekonomikuri vardna

saqarTveloSi gacilebiT zomieria (dsT-s qveynebTan SedarebiT) rogorc saqarTvelos

ekonomikis winakrizisuli mdgradobis, ise diversificirebuli vaWrobisa Tu sainves-

ticio kavSirebis gamo. marTalia, ekonomikuri prognozebi dasazustebelia arsebuli

gaurkvevlobidan gamomdinare, magram winakrizisuli molodini mSp-is, investiciebis

Tu savaWro brunvebis zrdis tempebis mimarT mkveTrad gansxvavebulia amJamindeli gau-

aresebuli prognozebisagan (ix. naxazi 1). savaraudod, inflaciis done zomieri darCeba

(daaxloebiT 3-5% saSualovadian periodSi), rac niSnavs, rom 2007 wlis bolo periodi-

saTvis arsebul 11%-Tan SedarebiT inflacia mniSvnelovnad Semcirda. es gamowveulia

2008 wlis meore naxevarSi kapitalis Semodinebis, sabanko seqtoris kreditebisa da glo-

baluri savaWro fasebis mkveTri dacemiT.

12 13

naxazi 1: ZiriTadi ekonomikuri maCveneblebi

-4

-2

0

2

4

6

8

10

12

14

99 00 01 02 03 04 05 06 07 08 09 10 11 12

(a):

0

400

800

1200

1600

2000

99 00 01 02 03 04 05 06 07 08 09 10 11 12

faqtiuri prognozi - maisi 08 prognozi - ivlisi 09

0

4000

8000

12000

16000

20000

99 00 01 02 03 04 05 06 07 08 09 10 11 12

ekonomikuri zrda

(b): pirdapiri investiciebi

zr

dis

tem

pi

mil

ioni

$

(g) savaWro brunva

mil

ioni

$



17. savaraudod, sagareo-ekonomikuri koreqtireba saSualovadian periodSi

Tavisufli gacvliTi kursis xelSewyobiT gagrZeldeba. mosalodnelia, rom Semcire-

buli kapitaluri nakadebis Sedegad (aseve sagareo konkurentulobis Sesabamisi gacvli-

Ti kursis reJimis xelSewyobiT) mimdinare angariSis deficitis uaryofiTi saldo 2008

wels arsebuli mSp-is 22.7%-dan 2009 wels 16%-mde Semcirdeba, saSualovadian period-

Si ki _ 15%-mde. am SemTxvevaSi ZiriTad elements Seadgens importis mkveTri Semcireba

2008 wlis mSp-is 58.3%-dan 2009 wlis mSp-is 49.8%-mde. amis mizezia ekonomikuri vardna

da xarjebis Camocileba Tavdacvis intensiuri importis xarjebisgan. zemoT aRniSnuli

gansxvaveba (uaryofiTi saldo), prognozis mixedviT, srulad daifareba ucxouri inves-

ticiebis, IMF-is finansuri Semodinebisa da sxva donorTa dafinansebiT.

18. pirdapiri ucxouri investiciebis (FDI) vardna 2009 wlis seqtembrisaTvis

ivaraudeba da gagrZeldeba saSualovadian periodSi investiciebis etapobrivad

aRd genamde. dekemberSi Catarebuli gamokvleviT saSualovadian periodSi FDI-is

interesi saqarTvelos mimarT ar ganelebula. miuxedavad imisa, rom saqarTvelodan

ar gasulan ucxoeli investorebi, 2009 wels prognozirebuli FDI-is nakadebi TiTqmis

ganaxevrda _ daaxloebiT 900 milion aSS dolaramde (mSp-is daaxloebiT 8%). am maCvene-

belSi unda igulisxmebodes ramdenime farTomasStabiani, didi moculobis sainvesticio

proeqti warmoebis, uZravi qonebis, transportirebis, komunikaciebisa da sxva sferoeb-

Si. aseve mosalodnelia, rom 2012 wlisaTvis FDI-is nakadebi mSp-is 11%-mde aRdgeba.

19. Secvlili ekonomikuri safuZvlebidan gamomdinare, saSualovadian perspe-

q tivaSi mosalodnelia Zlieri fiskaluri cvlilebebi. savaraudod, 2009 wels mT-

liani finansuri deficiti 9%-ze metad gaizrdeba 2012 wlisaTvis mSp-is 4%-mde kvla-

vSemcirebamde. 2009 wels saxelmwifo xarjebi mSp-is 39%-is zemoT gaizrdeba, sanam 2012

wlisaTvis saSualo niSnuliT daaxloebiT 30%-s ar miaRwevs (ix. cxrili 1). fiskaluri

14 15

cvlileba aseve gulisxmobs xarjebis mniSvnelovan gadanawilebas Tavdacvis sferodan

socialur da infrastruqturis sferoebze. sagadasaxado Semosavlebi, savaraudod, 2008

wels arsebuli mSp-is 25%-dan 2009 wels 24.4%-mde daiklebs, saSualovadian periodSi ki

23%-is farglebSi darCeba. 2008 wels Semosavlebisa da grantebis kleba arsebuli mSp-is

30.7%-dan 2009 wels 29.7%-mdea mosalodneli, saSualovadian perspeqtivaSi ki _ 26%-mde.

20. maRalma anticiklurma sesxebma ufro metad daamZima saqarTvelos valebis

tvirTi da gaauaresa valis momsaxurebis maCveneblebi, magram mosalodnelia, rom es

ar gascdeba saTanado gonivrul zRvars. saqarTvelo mniSvnelovan ucxour dafinanse-

bas iRebda konfliqtis Semdgomi reabilitaciisa da ekonomikis aRdgenisaTvis. am dax-

marebis udidesi nawili mas grantebisa da SeRavaTiani sesxebis formiT eZleoda. momavali

ori wlis ganmavlobaSi mosalodnelia valis Semosavlis koeficientis zrda. aqedan, 2008

wels sagareo saxelmwifo vali arsebuli mSp-is 20.9%-dan 2009 wels 32%-mde, 2010-2011

wlebSi ki daaxloebiT 40-41%-iT gaizrdeba (50%-iani gonivruli zRvris dabla)4. 2012-2013 ww. mosalodneli ramdenime didi valdebulebis dafarvis mizeziT prognozirebu-

lia, rom sagareo saxelmwifo valis momsaxurebisa da eqsportis urTierTqmedebis koe-

ficienti 2013 wels erTwlian piks miaRwevs (25%-ian gonivrul zRvars). es gagrZeldeba

saSualovadian perspeqtivaSi 10%-is qvemoT mis mkveTr dacemamde. ukanaskneli ori wlis

ganmavlobaSi kerZo seqtoris valebi TiTqmis gaormagda. Tumca axlo momavalSi maTi

Semcireba ivaraudeba, radgan 2009 wels kerZo seqtorma didi raodenobiT vali dafara.

valis mdgradobis analizi (DSA), romelic Sesulia IMF-is axal, mesame angariSSi, kerZod

xelSekrulebaSi rezervebis (SBA) Sesaxeb, adasturebs, rom saSualovadian periodSi

saqarTvelos valebis tvirTi mdgradi unda iyos. es varaudi efuZneba zrdis sabaziso

donis maCvenebels da sxvadasxva alternatiuli scenariT gaTvaliswinebul ufro did

ekonomikur dartymas5. amasTan, saSualovadian periodSi ganxorcielebuli finansuri

cvlilebebi sasicocxlo mniSvnelobas iZens saqarTvelos sagareo valis mdgradobis

SesanarCuneblad.

21. moklevadian periodSi IMF-is SBA programa ekonomikuri aqtivobis mxar-

dasaWeri anticikluri finansuri stimuli iqneba, romelic yvela struqturul da

gansaxorcielebel niSnuls akmayofilebs. mesame mimoxilva dasrulda, igi 2009 wlis

agvistoSi direqtorTa sabWoze ganixiles. IMF-ma kvlav ganagrZo programa 2011 wlis Sua

ricxvebamde da igi 400 milion aSS dolaramde gazarda, rac kvlavac SeiZleba gamoyen-

ebul iqnes sabiujeto miznebisaTvis.

22. amis miuxedavad, saqarTvelo kvlav dgas garkveuli mniSvnelovani (magram

marTvadi) makroekonomikuri riskebis winaSe. 1) Tu gaviTvaliswinebT globaluri

ekonomikis bundovan perspeqtivas, kapitalis Semodinebisa da eqsportis done SeiZleba

dReisaTvis prognozirebulze ufro mkveTrad Semcirdes, amiT ekonomikuri krizisi

ufro metad gaRrmavdeba da gaxangrZlivdeba. 2) iqidan gamomdinare, rom globaluri

ekonomikuri krizisi donor qveynebsac exeba da sxva qveynebSic gazrdilia finansuri

moTxovnebi, SeiZleba donorTa daxmarebis realuri raodenoba donorTa konferenciaze

(2008 wlis oqtomberi) Sepirebul raodenobaze naklebi aRmoCndes. orive ekonomikuri

scenari moiTxovs mniSvnelovan sagareo Carevas da dagegmili xarjebis Semdgom Semcire-

4. rogorc es naCvenebia valis mdgradobis struqturaSi (DSF) dabalSemosavliani qveynebisaTvis.

5. rogorc es naCvenebia valis mdgradobis struqturaSi (DSF) dabalSemosavliani qveynebisaTvis

14 15

bas. 3) ekonomikuri krizisis gamo finansuri seqtori kvlav riskis qveS rCeba. ucxour

valutaSi Tanabrad aris asaxuli aqtivebisa da valdebulebebis wilebi. amis gaTval-

iswinebiT, naklebad mosalodnelia pirdapiri riski imisa, rom dabalanseba gaufasure-

buli savaluto kursiT moxdeba. Tumca, sesxis portfelSi arsebuli ucxouri valutis

kursTan dakavSirebulma riskma SeiZleba gazardos sakredito riski.

23. mocemuli strategia miznad isaxavs garkveuli zomebis miRebas riskis Ses-

arbileblad. bankis TanamSromlebma IMF-sTan erTad gaaZlieres makroekonomikuri ze-

damxedveloba. isini Cabmulni arian strategiis alternativebisa da SesaZleblobebis

sakiTxebis gamo aRZrul xangrZliv dialogSi. bolo monacemebis Sesabamisad, drodadro

axldeba ekonomikuri prognozebi. donorebisaTvis adekvaturi xelSewyobisaTvis xe-

lisufleba mWidrod muSaobda ganviTarebaSi damxmare partniorebTan finansuri nakadis

monitoringis mizniT. 2009 wlis ivlisSi gamoica saWiroebaTa erToblivi Sefasebis (JNA) Sualeduri angariSi. igi moicavda informacias miRebuli da gacemuli finansebis, Ziri-

Tadi RonisZiebebis dafinansebis da wamoWrili prioritetebis perspeqtivebis Sesaxeb.

finansuri seqtoris riskebis Serbilebis mizniT bankebma gazardes maragebi. 2009 wels

gamoiyo Tanxebi didi finansuri valdebulebebis dasafaravad. dReisaTvis xelisufleba

aZlierebs zedamxedvelobas da ayalibebs finansuri stabilurobis gegmas.

e. siRaribe da aTaswleulis ganviTarebis miznebi (MDG)

24. siRaribe. oficialuri saojaxo gamokiTxvis dabalma xarisxma warmoSva saWiroe-

ba, rom 2007 wlis Semodgomaze msoflio banks da janmrTelobis, Sromisa da socialuri

dacvis saministros (MOHLSP) erTmaneTisagan damoukideblad CaetarebinaT cxovrebis

donis Sefasebis (LSMS) gamokiTxva. siRaribis niSnuli 23.7%-i aRmoCnda. aSkara iyo Se-

mosavlebis saSualo donis uTanasworoba. LSMS-is Sedegebi srulad aisaxa sajarod xe-

lmisawvdom dokumentSi `siRaribis Sefaseba saqarTveloSi~ (romelic 2009 wlis aprilSi

daibeWda). es angariSi miuTiTebs siRaribis sam umTavres punqts, romelTa amoqmedeba

aucilebelia warmatebis misaRwevad siRaribis winaaRmdeg brZolaSi:

•socialuri daxmarebis gafarToeba: `siRaribis daZlevis mxardamWeri opera-

ciebis~ (PRSO) safuZvelze msoflio bankma Seqmna pensiebisa da axladwardgenili

miznobrivi socialuri daxmarebis (TSA) programa. am programam mniSvnelovani

roli Seasrula siRaribis daZlevaSi. TSA programis farTod gavrceleba xels

Seuwyobs siRaribisa da araTanabari Semosavlebis daZlevas, gansakuTrebiT ki so-

flad.

•mzardi umuSevroba: miuxedavad xelfasebis zrdisa, umuSevroba mainc mTavar

problemad rCeba. vardebis revoluciis Semdeg dawyebuli reformis erT-erT

nawils Seadgenda sajaro seqtorSi momuSaveTa Semcireba. magram es procesi jer-

ac ver gautolda kerZo seqtorSi dasaqmebulTa ricxvis zrdas.

•qalaqsa da sofels Soris uTanasworoba: saqarTveloSi siRaribe soflad

gansakuTrebiT Zlieria (ix. cxrili 2). qalaqSi da sofelSi Raribi mosaxleobis

raodenobis Sedarebam aCvena, rom soflad siRaribis done gacilebiT maRalia

qalaqTan SedarebiT. ukiduresi siRaribis SemTxvevebi soflebSi TiTqmis aWar-

16 17

25. mosalodnelia, rom 2008 wlis agvistos konfliqtiT gamowveuli ormagi

Soki da globaluri finansuri krizisi uaxloes periodSi ufro metad gaauaresebs

siRaribiT gamowveul viTarebas. rom ara ormagi krizisis uaryofiTi gavlena, 2009 wels

Raribi mosaxleobis ricxvi unda Semcirebuliyo (ix. naxazi 2), ris sapirispirodac 2009

wels Raribi mosaxleobis ricxvis gazrda ivaraudeba. sapasuxod, mTavrobam 2009 wels

socialuri daxmarebisaTvis ukve gazarda biujetidan gamoyofili Tanxebi. igi yura-

dRebiT adevnebs Tvals damatebiTi saxsrebis gamoyofis saWiroebas. am mimarTulebiT

msoflio banki aqtiurad TanamSromlobs mTavrobasTan.

naxazi 2: siRaribis donis prognozi (ojaxi%)

Rar

ibi

adam

ian.

rao

den

oba

%

bebs qalaqis dones. siRaribis zonebi sakmaod gansxvavebulia regionebis mixed-

viTac. sam regionSi _ kaxeTSi, Siga qarTlsa da mcxeTa-mTianeTSi _ siRaribis

done 40%-ze maRalia. aRsaniSnavia is faqtic, rom mosaxleobisa da samuSao Zalis

daaxloebiT naxevari sofladaa koncentrirebuli, magram sofeli mSp-is mxolod

9%-s qmnis.

cxrili 2: siRaribis ganawileba 2007 weli

(wili SinameurneobebSi)

siRaribe ukiduresi siRaribe

qalaqad 18.3 6.7

soflad 29.7 12.4

sul 23.7 9.3

wyaro: msoflio bankis Sefaseba dafuZnebuli LSMS-is 2007wlis monacemebze

23 .7

25.9 27.8

21.5 19.2

9.3

11. 312. 3

8.2 6.7

0

10

20

30

2007 2008 2009

siRaribe, sul (krizisi dros) siRaribe, sul (krizisi gareSe)

ukiduresi siRaribe (krizisis dros) ukiduresi siRaribe (krizisis gareSe)

16 17

26. MDG-is miznebi: rogorc aRiniSna, uaxloes periodSi ekonomikurma vardnam

SeiZleba Seasustos siRaribis dasaZlevad gaweuli mniSvnelovani Zalisxmeva. didia pro-

gresi MDG–is mier dasaxuli amocanebis Sesrulebis mxriv. Tumca, ekonomikuri krizisis

pirobebSi am miRwevebis dacva sakmao drosa da garjas moiTxovs. danarTi 4 aRbeWdavs MDG-is miznebisa da statusis srul mimoxilvas. amjerad ganvixilavT ramdenime Zireul

sakiTxs:

•mniSvnelovani winsvla aRiniSneboda jandacvis sferoSi. 2001 welTan Sedare-

biT bavSvTa sikvdilianobis maCvenebeli yovel 1000 mSobiarobaze iyo 20, rac 2007

wels 14-mde Camovida. magram jer kidev didi gzaa gasavleli MDG-is miznamde,

romelic 2015 wlisaTvis am maCveneblis 7-mde dacemas gulisxmobs. Semcirda

dedaTa sikvdilianoba: 2001 wels yovel 100 000 mSobiarobaze 58.7 SemTxveva mo-

dioda, 2007 wels es maCvenebeli 15.6-mde daeca. dReisaTvis igi ukve uaxlovdeba MDG-is mizans – 12.3-s.

•ganaTlebis sferoSi dawyebiT skolebSi moswavleebis miRebis Zalian maRali

maCvenebelia (92%-iani) da klasebSi genderuli Tanasworoba daculia. kvlav

grZeldeba muSaoba ganaTlebis xarisxis amaRlebaze, rasac xels uwyobs axali

saswavlo programebi da me-12 klasis SemoReba saswavlo dawesebulebebSi. swav-

lebis Sedegebi Seafasa maTematikisa da mecnierebis saerTaSoriso kvleviTma mi-

marTulebebma (TIMSS) da saerTaSoriso kvlevam wera-kiTxvis ganviTarebis Ses-

axeb (PIRLS). Tumca, reitingiT gamovlinda, rom saWiroa Sedegebis gaumjobeseba

(magaliTad, maTematikaSi me-8 klaselTa waramatebis mixedviT 49 qveyanas Soris

saqarTvelo 33-e adgilzea).

•miuxedavad garkveuli winsvlisa garemos dacvaSi, am sferoSic jer kidev bevri

samuSaoa. Tu qalaqis mosaxleobis 100%-s xeli miuwvdeba sasmelad vargis wyalze,

soflad amis SesaZlebloba gacilebiT naklebia. erovnuli parkebis teritoria

maRali profesiuli marTvis Sesabamisadaa mowesrigebuli. amis sapirispirod,

satyeo meurneobebi jer kidev mouvlelia da ar Seesabameba saerTaSoriso stan-

dartebs.

v. mmarTveloba da antikorufciuli programa

27. vardebis revoluciis Semdeg saqarTvelom umniSvnelovanesi nabijebi gad-

adga mmarTvelobis reformebis ganxorcielebasa da korufciis winaaRmdeg brZola-

Si. korufciisa da mmarTvelobis sakiTxebi is umniSvnelovanesi problemebi iyo, romle-

bzec aucilebelad unda gamaxvilebuliyo yuradReba ukanaskneli CPS-is samive sferos

ganxilvisas. garda amisa, ukanaskneli CPS-is ganxorcielebis periodSi mmarTvelobis

reformebi ZiriTadad mimarTuli iyo makroekonomikis stabilurobis SenarCunebisaken,

aseve, saxelmwifo dafinansebis gaZlierebasa da sajaro samsaxuris ZiriTadi debulebe-

bis gaumjobesebisaken. ramdenadac ekonomikuri zrdis mTavar mamoZravebel Zalad mTav-

robis mier konkurentuli kerZo seqtori aRiqmeboda, dRis wesrigis wamyvani sakiTxi iyo

biznesseqtoris garemos gaumjobesebis reforma.

18 19

28. mniSvnelovani winsvla aRiniSna saxelmwifo finansebis marTvis sistemis

gaumjobesebis mimarTulebiT. maT Soris iyo: biujetis reforma da xarjebis saSua-

lovadiani periodi, sagadasaxado da sabaJo kodeqsebis gamartiveba, Semosavlebis ad-

ministrirebis reorganizacia da gaZliereba, kontrolis palatis gardaqmna umaRles

saauditoro organod (SAI) da, amasTan erTad, cvlilebebis Setana kanonmdeblobaSi gare

auditis Sesaxeb saxelmwifo angariSgebaSi arsebuli uaryofiTi mxareebis gamosaswore-

blad.

29. saerTaSoriso gamokvlevebi, rogorebicaa: biznesgaremosa da sawarmoTa

muSaobis kvleva (BEEPS) da biznesis warmoeba (Doing Business), adasturebs, rom mniS-

vnelovnad Semcirda qrTamis aRebis SemTxvevebi. am gamokvlevebSi dafiqsirebulia

araoficialuri gadasaxadis mkveTrad Semcireba, aseve drois is xangrZlivoba, romelic

sajaro pirebTan sxvadasxvagvari kanonisa da debulebis interpretaciisTvis ixarje-

boda. mravalma saxelmwifo dawesebulebam yuradReba gaamaxvila qveyanaSi gavrcelebul

wvrilman korufciasTan brZolaze. sagzao policias Cautarda sruli reorganizacia

da igi axali kadrebiT dakompleqtda, raTa gadaketiliyo korufciis es fesvgadgmuli

wyaro. SemoRebul iqna umaRles saswavleblebSi misaRebi obieqturi testireba.

30. am miRwevebis miuxedavad, kvlavac rCeba sferoebi, romlebic did yura-

dRebas saWiroebs. mTavrobam ganviTarebis strategiis ZiriTad mimarTulebad ker-

Zo seqtoris investiciebisa da ekonomikuri zrdisaTvis xelsayreli garemos Seqmna

gamoacxada. jer kidev dRis wesrigSia biznesis warmoebis praqtikisa da regulirebis

gaumjobesebis aucilebloba konkurenciisa da gamWvirvalobis maqsimalurad wasaxa-

liseblad. qveyanaSi tardeba sasamarTlo reformebi: sistema icvleba, utardeba re-

organizacia da kompleqtdeba axali kadrebiT (mosamarTleTa xelmeored gadamzadeba

da sxva). yovelive amis miuxedavad, jer kidev didi Zalisxmevaa saWiro imisaTvis, rom

sasamarTlo ar aRiqmebodes araTavisufal, damokidebul organod, romelsac saqmis-

admi mouqneli midgoma axasiaTebs. aseve, kvlavac damkvidrebulia azri, rom gadasaxade-

bis amoRebac spontanurad da daugegmavad unda ganxorcieldes. isev umoqmedod rCeba mravali saxelmwifo dawesebuleba. magram yvelaze metad mniSvnelovania, gaRrmavdes da

gaaqtiurdes dialogi mTavrobasa da samoqalaqo sazogadoebas Soris gadawyvetilebis

miRebisa da programis ganxorcielebis sakiTxebSi sruli gamWvirvalobis misaRwevad.

II qveynis ganviTarebis programa da prioritetebi

a. qveynis ganviTarebis programa

31. bolo drois ramdenime dokumentSi aSkarad gamoixata saSualovadiani peri-

odisaTvis gamiznuli ganviTarebis programis xelisuflebiseuli xedva. 2008 wlis

ianvarSi mTavrobam moamzada saSualovadiani periodis reformebis programa saTau-

riT `gaerTianebuli saqarTvelo siRaribis gareSe~. programam Camoayaliba strate-

giuli mimarTulebebi mTeli rigi samoqmedo sferoebisaTvis, maT Sorisaa: makroekono-

mikuri zrda, dabali gadasaxadebi, samuSao adgilebis Seqmna, biujetis fokusireba

socialur sakiTxebze, janmrTelobis dazRveva mosaxleobis Raribi fenebisaTvis, gza-

Ta sistemis reabilitacia, hidroeleqtrosadgurebis generaciis gazrda, sasoflo-

sameurneo produqciis eqsportis gazrda da umaRlesi ganaTlebis sistemis gaumjobese-

ba. marTalia, es strategia win uswrebs ekonomikur garemoSi arsebul im sayuradRebo

18 19

cvlilebebs, romlebic agvistos konfliqtma da msoflio ekonomikurma krizisma gamoi-

wvia, magram amave strategiuli mimarTulebis udidesi nawili kvlavac ar kargavs mniS-

vnelobas. Tumca aucilebelia, maTi ufro swrafi ganxorcieleba.

32. agvistos konfliqtis dasrulebisTanave mTavroba Seudga muSaobas dono-

rebTan, raTa saTanadod daeZlia konfliqtis Semdgom warmoqmnili problemebi.

problemebis daZleva iTvaliswinebda: fiskalur cvlilebebs, finansuri seqtoris

riskebisgan dacvas, iZulebiT gadaadgilebul pirTa saWiroebaTa dakmayofilebas,

dazianebuli infrastruqturis saswrafo aRdgenas, saerTaSoriso daxmarebis moZiebasa

da miRebas. 2008 wlis seqtemberSi gundma (ADB-is, EU-s, EBRD-is, EIB-is da IFC-is monawileobiTa da mTavrobasTan erToblivi muSaobiT), romelsac msoflio banki da

gaero xelmZRvanelobdnen, moamzada saWiroebaTa erToblivi Sefaseba (JNA). am Sefasebam

gamoavlina donorTa daxmarebis 4 ZiriTadi mimarTuleba: 1) makroekonomikuri da

fiskaluri stabilizacia, 2)socialur saWiroebaTa dakmayofileba (gansakuTrebiT

iZulebiT gadaadgilebul pirTaTvis), 3)prioritetuli infrastruqturuli inves-

ticiebi da 4)sabanko da kerZo seqtorebi. dReisaTvis donorebi mTlianad asruleben

zemoaRniSnul moTxovnilebebs.

33. mTavroba yovelwliurad amzadebs strategiul dokuments saTauriT: Ziri-

Tadi maCveneblebisa da mimarTulebebis dokumenti (BDD), romelSic saSualovadi-

ani perspeqtivis reformebis programaa asaxuli. igi uzrunvelyofs saSualovadi-

ani perspeqtivis makroekonomikur reformebs, rogoricaa fiskaluri resursebis

paketi da asigneba. amave programaSi detaluradaa aRwerili individualuri dargobrivi

strategiebi, romelTa Sesrulebac aucilebelia zemoaRniSnuli miznebis misaRwevad.

parlaments ukve gadaeca 2010-2013 wlebis ZiriTadi maCveneblebisa da mimarTulebebis

dokumenti. mTavrobis ekonomikuri reformebis strategiis ZiriTad mimarTulebaTagan

zogierTi moicavs: ekonomikuri zrdis ganaxlebas, socialur saWiroebaTa xelSewyobas,

investiciebs infrastruqturaSi, Sromis nayofierebis amaRlebas, ganaTlebas soflad,

sasamarTlo reformas da mTavrobis nayofier muSaobas:

•ekonomikuri zrda ganaxldeba: gadasaxadebis Semcirebis gagrZelebiT, ev-

rokavSirTan Tavisufali vaWrobis waxalisebiT, sabaJo procedurebis gaum-

jobesebiTa da infrastruqturis gaZlierebiT.

•socialuri usafrTxoebis sistema gaZlierdeba: pensiebis gazrdiT, sistemis

moqmedebis zonis gafarToebiTa da miznobrivi socialuri daxmarebis gaum-

jobesebiT. aseve prioritetuli iqneba samedicino dazRvevis xelmisawvdomobis

gafarToeba, romlis drosac Rarib mosaxleobas saxelmwifo daafinansebs. sacx-

ovrebeli pirobebi gauumjobesdebaT axal iZulebiT gadaadgilebul pirebs da

etapobrivad ganxorcieldeba Zvelebis sacxovrebeli adgilebiT uzrunvelyofis

programa. wyalmomaragebisa da kanalizaciis sistemas mTeli qveynis masStabiT

Cautardeba rekonstruqcia da reabilitacia.

20 21

•infrastruqturis xelSewyoba: saxelmwifo daafinansebs infrastruqturis

mTavar da yvelaze mniSvnelovan proeqtebs; SesaZleblobis mixedviT moizidavs

ucxour investiciebs, riTac waxalisdeba biznesi da gaCndeba axali samuSao adg-

ilebi. transportirebas saxelmwifo aRiarebs sakvanZo seqtorad, sadac prior-

itetuli iqneba axali aRmosavleT-dasavleTis Cqarosnuli magistrali, aseve

samxreTisa da dasavleTis mimarTulebis axali segmentebi. gagrZeldeba muSaoba

energetikis seqtorSic, sadac Zalisxmeva iqneba mimarTuli kerZo da donori or-

ganizaciebis investiciebis mozidvisken, raTa gafarTovdes eleqtroenergiis

gadacemis axali xazi da gaizardos hidroeleqtroenergiis gamomuSaveba-gener-

acia.

•Sromis nayofierebis amaRleba soflad: soflis meurneobaSi Sromis nayofi-

erebis asamaRleblad moxdeba sarwyav-sadrenaJo sistemebis reabilitacia. gagr-

Zeldeba fermerebis daxmareba, xeli Seewyoba agrobiznesisa da gadamamuSavebeli

seqtorebis ganviTarebas, rac Seqmnis axal samuSao adgilebs. gaizrdeba Zalisx-

meva mecxoveleobis produqtiulobis gasazrdelad, epizooturi saSiSroebisa-

gan dacvisa da sursaTis usafrTxoebis uzrunvelsayofad.

• ganaTleba: yvela saxelmwifo skola imuSavebs Tanamedrove standartebis Sesa-

bamisad da aRWurvili iqneba internetTan dakavSirebuli kompiuterebiT. saer-

TaSoriso standartebis gaTvaliswinebiT, umaRles saswavleblebSi amaRldeba

swavlebis done da maswavlebelTa momzadebis xarisxi.

•sasamarTlo reforma: gagrZeldeba sasamarTlo reforma da amaRldeba mosa-

marTleTa (Sesabamisad, sasamarTlos) damoukideblobis xarisxi. Tanamedrove

standartebiT imuSavebs kriminaluri da administraciuli sasamarTlo sistema.

imave standartebiT Seiqmneba monacemTa bazebi da SeirCeva mosamarTleebi. sisx-

lis samarTlis garkveul saqmeebSi dagegmilia nafic msajulTa institutis Se-

motana.

•mTavrobis efeqtiani muSaoba: saxelmwifo seqtori SeimuSavebs Sefasebis spe-

cialur parametrebs, rac ufro met gamWvirvalobas SesZens sajaro samsaxurs.

gaumjobesdeba sabiujeto da saxazino procesebi. rac Seexeba korufciis wi-

naaRmdeg brZolas, daixveweba sajaro moxeleebisaTvis qonebrivi deklaraciebis

safuZvliani Sevsebis sistema da amoqmeddeba eTikis (qcevis) kodeqsi.

b. ZiriTadi ekonomikuri da socialuri prioritetebi

34. ormagi krizisis fonze xelisuflebis strategiuli miznebi or ZiriTad kat-

egoriad iyofa: I. krizisis Sedegebis aRmofxvra da II. krizisis Semdgomi aRorZine-

bisa da zrdisaTvis aucilebeli konkurentulobis gaZliereba. 2009 wlis darCenil

periodSic da 2010 welsac ekonomikur zrdaze imoqmedebs rogorc globaluri ekono-

mikuri daRmasvla, ise likvidurobis mkacri pirobebi. xelisufleba Tavdapirvelad

aRadgens ekonomikur stabilurobas da daicavs mosaxleobis socialur usafrTxoebas.

20 21

am miznebis misaRwevad mTavroba gaaZlierebs anticiklur sistemas, romelic metwilad

donorebis mier finansdeba. misi meore amocana da ekonomikis ganviTarebis winapiroba

ekonomikuri pirobebis gaumjobesebaa. mTavrobas miaCnia, rom saqarTvelos msgavsi Ria

ekonomikis mqone mcire qveyana amas mxolod maSin miaRwevs, rodesac gaZlierdeba saer-

TaSoriso konkurentuloba da saqarTvelo mimzidveli gaxdeba ucxoeli investorebi-

saTvis. amisaTvis qveyanam unda gaiTvaliswinos ukve miRweuli Sedegebi da warmatebiT

daasrulos jer kidev daumTavrebeli strategiuli da instituciuri reformebi.

konfliqtisSemdgomi da gadaudebeli problemebis gadaWra

35. rogorc zemoT iyo ganxiluli, ormagi krizisis gamo ekonomika mniSvnelo-

vani cvlilebebis gatarebis aucileblobis winaSe dgas. mTavroba aRiarebs am sakiTxis

prioritetulobas da qveynis ekonomikisa da socialuri struqturis dacvas, aseve kriz-

isis Semdgomi ekonomikuri zrdis uzrunvelyofasa da keTildReobis gaumjobesebas uax-

loesi ori wlis ganmavlobaSi gegmavs. yovelive es moiTxovs gadamwyvet moqmedebas qve-

moT CamoTvlil sxvadasxva farTo frontze.

36. pirveli, xelisufleba mzadaa, efeqtianad danergos gonivruli anticiklu-

ri makroekonomikuri strategia. am mimarTulebiT man ukve gadadga mniSvnelovani

nabijebi savaluto kursis liberalizaciisaken, rac gaaiolebs sagareo vaWrobis da-

regulirebas da gaaumjobesebs eqsportis momgebianobas. Ria savaWro reJimi mTavro-

bam Tavisi strategiis qvakuTxedad aqcia. anticikluri fiskaluri strategia imgvarad

xorcieldeba, rom maqsimalurad iqnes gamoyenebuli donorTa SeRavaTiani dafinanseba,

aseve, saTanadod dabalansdes umuSevrobisa da siRaribis aweuli done. xarjviT nawilSi

gasatarebeli restruqturizacia ukve realizaciis procesSia fiskaluri deficitis

IMF-is miznebTan Tanxvedris misaRwevad.

37. anticiklur programas mTavrobam daurTo cvlilebebi xarjebis struqtur-

aSi, riTac igi xarjebs ganagebs ufro prioritetuli infrastruqturis, socialuri

da sxva investiciebis meti efeqtianobisTvis. infrastruqturuli investiciebi axali

samuSao adgilebis SeqmniT (gansakuTrebiT dabali profesiuli unarebis mqone soflis

muSaxelisaTvis) mokle vadaSi moitans maRal mogebas. janmrTelobis, ganaTlebisa da so-

cialuri dacvisaTvis gaTvaliswinebuli socialuri xarjebi 2007 wlis mSp-is 8.2%-dan

2009 wlis biujetSi ukve asaxuli mSp-is 10.2%-mde gaizarda. amave dros, Semcirda Tav-

dacvis xarjebi. biujetSi cvlilebebis Setanisas mTavrobam yuradReba unda gaamaxvi-

los prioritetul xarjebze, rac socialuri keTildReobis aucilebeli winapirobaa.

garda amisa, mniSvnelovnad gaizarda saxelmwifo investiciebi (2003 wels mSp-is 2.8%,

2007 wels ki mSp-is 9% da, rogorc wamaxalisebeli paketis Semadgeneli nawili, 2009 wels

imave koeficients inarCunebs). xelisuflebis mniSvnelovan amocanad rCeba am fondebis

maqsimalurad efeqtianad gamoyeneba.

38. meore, mTavroba aRiarebs, rom finansuri stabilurobis xelSewyoba mis

Zi ri Tad amocanas warmoadgens. krizisis periodSi sabanko sistemis likviduroba da

kreditunarianoba sakmaod Zlieri iyo, ris SenarCunebasac xelisufleba axlac apirebs.

garda amisa, finansuri Careva kvlav dabalia. bazrebis likvidurobis aRsadgenad mTav-

roba aseve mzadaa, SeinarCunos moqnili monetaruli da savaluto kursi. amasTanave,

22 23

sabanko seqtoris zedamxedvelobas xelisufleba aZlierebs finansuri zedamxedvelo-

bis saagentos (FSA) meSveobiT, romelic male erovnul banks SeuerTdeba da zedamxed-

velobas gauwevs uimedo valebs (NPL). ekonomikasTan dakavSirebuli riskebis droulad

Sesamcireblad igi uzrunvelyofs saTanado maragebs.

39. mesame: xelisufleba aumjobesebs socialuri dacvis sistemis efeqtianobas.

socialuri gadaxdebis sistema saqarTveloSi mosaxleobis 64.4%-s faravs. igi moicavs

pensiebs, daxmarebas iZulebiT gadaadgilebul pirTaTvis, miznobriv socialur daxmare-

bas (TSA) da mcire fuladi gadaricxvebis sxvadasxva programas. ekonomikuri vardnis

SedegadEgaizarda socialuri daxmarebisaTvis gamiznuli finansuri xarjebi. 2007 wlis

monacemebiT es xarjebi mSp-is 4.6%-dan 2008 wels 5.8%- mde gaizarda da 2009 wlis Secv-

lili biujetis mixedviT 7.4%-s miaRwevs. siRaribis dasaZlevad aucilebelia social-

uri transferebi. prognozis mixedviT, am transferebis gareSe siRaribis done ufro

maRali iqneboda. mimdinare gadaudebeli problemebis gadasawyvetad, aseve anticik-

luri socialuri programisaTvis saWiro instituciuri cvlilebebis gasaZliereblad,

xelisufleba mzadaa: 1) momavalSic ganagrZos ukve arsebuli miznobrivad mimarTuli

socialuri transferebis nawilis (mag., TSA) efeqtianobis gaumjobeseba, 2) gazardos

finansuri situaciidan gamomdinare dafarvis are, 3) ganagrZos socialuri transfer-

ebis programebis miznobrivi gamoyeneba da 4) efeqturi Sedegis misaRwevad gaaZlieros

socialuri SeRavaTebis administrireba. saSualovadiani periodisaTvis dainergeba so-

cialuri usafrTxoebis sistemasTan dakavSirebuli saTanadod gaazrebuli strategia,

rac gamoiwvevs socialuri riskebis marTvis moqnili sistemis Camoyalibebas saqarT-

veloSi.

40. meoTxe, mTavroba afarToebs janmrTelobis dazRvevis programas, gansa-

kuTrebiT, mosaxleobis Raribi da umweo nawilisaTvis. miuxedavad zrdis tendencie-

bisa, 2008 wlis saxelmwifo biujetSi janmrTelobis sferosaTvis gamoyofilma xarjebma

mSp-is mxolod mcire, araefeqturi 1.5%-i Seadgina. saqarTvelos aqvs pirdapiri anga-

riSsworebis yvelaze maRali procenti ECA-Si: 2006 wels janmrTelobis sferoSi gaweu-

li xarjebis 72%. es gansakuTrebiT TvalSi sacemia, Tu SevadarebT msoflio jandacvis

organizaciis monacemebiT dadgenil EU-12-is 27%-s da EU-15-is 16%-s. saqarTvelos

mosaxleobac saxelmwifo investiciebisaTvis yvelaze prioritetulad janmrTelobis

sferos (moxseneba `gardamaval periodSi cxovrebis pirobebi~) miiCnevs. janmrTelobis

seqtorSi 2006 wels mTavroba Seudga gabeduli reformebis gatarebas. am reformebis

mizani iyo efeqtiani, xelmisawvdomi da maRali xarisxis momsaxureba yvelasTvis. jan-

dacvis momsaxurebis momwodeblebi anazRaurebas gaweuli samsaxuris safuZvelze Sedge-

nili kontraqtis meSveobiT iReben. amitom pacienti fuls aRar ixdis. mTavrobas Camoya-

libebuli aqvs grZelvadiani xedva kerZo operatorebis mosazidad saavadmyofoebsa da

pirveladi jandacvis obieqtebze. imave xedviT, maTTvis, visac janmrTelobis dazRvevis

polisis aReba ar SeuZlia, imgvari pirobebi unda Seiqmnas, rom maT saSualeba mieceT ker-

Zo mzRvevelebisgan SeiZinon subsidirebuli minimaluri momsaxurebis paketi. am xedvaSi

umniSvnelovanesia Raribi mosaxleobis samedicino dazRvevis gegma, romlis wyalobiT

Raribi mosaxleobisTvis ukve xelmisawvdomi gaxda janmrTelobis momsaxureba. Tumca

misi didi nawili jer kidev ver sargeblobs iafi dazRvevis paketebiT. saqarTvelosaT-

vis gansakuTrebiT mniSvnelovania jandacvis reformis programis ganxorcieleba da am

mxriv mosalodneli Sedegebis warmoCena. dRevandeli ekonomikuri mdgomareobis gaT-

22 23

valiswinebiT, aranakleb mniSvnelovania isic, rom am reformis ganxorcieleba finan-

surad mdgradi iyos.

41. mexuTe: mTavrobam prioritetulad aRiara iZulebiT gadaadgilebul pirTa

(IDP) ekonomikuri da socialuri keTildReobis gaumjobeseba. agvistos konfliqtis

Semdgom periodSi mTavroba dauyovnebliv Seudga iZulebiT gadaadgilebul pirTaT-

vis sacxovrebeli saxlebisa da TavSesafrebis problemis mogvarebas, maT finansur mx-

ardaWeras. amavdroulad, ufro meti RonisZiebebia gasatarebeli Semosavlebis generi-

rebisaTvis da iZulebiT gadaadgilebul pirTa cxovrebis donis gaumjobesebisaTvis.

es gansakuTrebiT exeba axalgazrda Taobas. mTavroba am grZelvadiani prioritetuli

samTavrobo RonisZiebebis Sesrulebas donor organizaciebTan mWidro TanamSromlo-

biT gegmavs.

42. meeqvse, mTavroba aRiarebs, rom uaxloes periodSi aucilebelia samuSao

adgilebis Seqmna (rogorc anticikluri programis erT-erTi elementi). jansaRi ker-

Zo seqtoris Camoyalibebis meSveobiT mTavroba apirebs grZelvadiani samuSao adgilebis

Seqmnas. amave dros, ZiriTadi infrastruqturis miznobrivi saxelmwifo dafinansebiT

igi xels Seuwyobs moklevadiani samuSaoebisa da droebiTi Semosavlebis Seqmnas. Tumca,

msgavsi moklevadiani investiciebi ar aris sakmarisi, vinaidan aucilebelia, mogvardes

samuSao Zalis kvalifikaciis amaRlebis problema (ix. $ 49)

43. dabolos, mTavroba muSaobs Sromis nayofierebisa da Semosavlebis zrdis

problemebze soflad. miuxedavad imisa, rom soflis meurneobis wili mSp-Si mkveTrad

daeca (1999 wlis 25%-dan 2008 wlis 9%-amde), es seqtori saqarTvelosaTvis mainc um-

niSvnelovanes dargad rCeba, miT ufro rom mosaxleobis 50%-i cxovrobs da muSaobs

soflad. soflis meurneobis produqtiulobisa da investiciebis Semcireba mWidrodaa

dakavSirebuli miwis danawevrebasTan, transportirebis maRal xarjebsa da gasaRebis ba-

zrebTan damakavSirebeli gzebis mZime mdgomareobasTan. yovelive aman gamoiwvia soflis

infrastruqturis gauareseba da soflis meurneobis produqciaze standartebis moSla.

socialuri pirobebi saqarTveloSi regionebis mixedviT icvleba. maT Soris gansxvaveba

Semosavlebisa da siRaribis donis mixedviT vlindeba. mosaxleobis migracia soflidan

qalaqSi bunebrivi ekonomikuri procesia, rac soflad arsebuli problemebis erT-erT

mizezs warmoadgens. saqarTvelo cdilobs, soflad Seqmnas maRali xarisxis soflis

meurneobis produqtebis farTo speqtri. marTalia, Sromis nayofiereba da eqsporti

mkveTrad Semcirda, magaram Camoyalibebis procesSi arsebuli Tavisufali reJimis

vaWroba evrokavSirsa da SeerTebul StatebTan mniSvnelovnad gazrdis produqtiu-

lobasa da eqsports, Seqmnis samuSao adgilebs, gansakuTrebiT ki soflad. garemos marT-

va soflis ekonomikisaTvis mniSvnelovani kidev erTi sferoa. am mxriv saqarTvelom unda

daicvas balansi kerZo monawileobis waxalisebasa da mTavrobis Carevas (rogorc maregu-

lireblis da zedamxedveli organos) Soris. aqedan gamomdinare, aucilebelia mTavrobis

ufro aqtiuri monawileoba am mniSvnelovani seqtoris integrirebul dagegmvasa da mar-

TvaSi.

24 25

konkurentulobis gaZliereba krizisis Semdgomi periodis ekonomikuri zrdis

mdgradobis uzrunvelsayofad

44. im dros, rodesac aucilebelia gadaiWras moklevadian krizisTan dakavSire-

buli problemebi, saqarTvelos aqvs mkafiod Camoyalibebuli amocana konkurentu-

lobis gazrdasa da qveynis ekonomikuri zrdis ganaxlebasTan mimarTebiT. mimdinare

krizisis miuxedavad, mTavroba dReisaTvis mzadaa, ganagrZos Tavisi reformatoruli

midgoma. TumcaRa, Tu mxedvelobaSi miviRebT finansur SezRudvebs, saWiro xdeba mniS-

vnelovani prioritetebis Camoyalibeba da fokusireba. mTavroba ganagrZobs CamoTvlil

sferoebSi konkurentulobis gaZlierebas:

45. pirveli, saqarTvelom mniSvnelovan prioritetad gamoacxada saxelmwifo

finansebis marTvis efeqtianobisa da efeqturobis gaumjobeseba. Tu gaviTvaliswi-

nebT saxelmwifo xarjebis arsebul zrdasa da xarjebSi gatarebul cvlilebebs, prior-

iteti eniWeba efeqtianobis da efeqturobis gaumjobesebas. ufro maRali da ukeTesad

ganawilebuli resursebidan am strategiiT aucilebeli ukugeba miiReba, riTac xeli See-

wyoba ekonomikis aRdgenas, saSualovadian perspeqtivaSi ki ekonomikuri zrdis mdgra-

dobis SesanarCuneblad saTanado pirobebi Seiqmneba. jer erTi, xarjebis zrdis done gu-

lisxmobs, rom am xarjebs mniSvnelovani wvlili Seaqvs saqarTvelos ekonomikuri zrdisa

da siRaribis daZlevis mniSvnelobaSi. meorec, mimdinare ekonomikur garemoSi saxelm-

wifo finansebis efeqtiani gamoyeneba uzrunvelyofs anticiklur fiskalur efeqtur-

obas, rac xels uwyobs ekonomikis aRdgenas. mesamec, ufro efeqtiani muSaoba gaaiolebs

saxelmwifo xarjebis Semcirebas. meoTxec, saSualovadian periodSi ekonomikuri zrdis

Semdgomi daCqarebis TvalsazrisiT, umokles droSi warmoaCens kerZo investiciebis

faqtors. msoflio bankisa da evrokavSiris erToblivi programis `saxelmwifo xarjebi

da finansuri angariSgeba~ (PEFA) SefasebiT, gamoikveTa Siga kontrolis, Siga da gare

auditis da finansuri angariSgebis Semdgomi gaumjobesebis aucilebloba. mTavrobam

survili gamoTqva, ufro aqtiurad ganaxorcielos saxelmwifo finansebis marTvis re-

forma, rac etapobrivad daamkvidrebs sajaro seqtoris aRricxvianobis saerTaSoriso

standartebs (IPSAS). erTianad, mTavroba mowadinebulia, saSualovadian perspeqtivaSi

ganaxorcielos instituciuri reformebi, rac gaaZlierebs Sedegebze orientirebuli

biujetis Seqmnas da win wamowevs saxelmwifo finansebis efeqtianobas, gamWvirvalobas

da angariSgebas. es RonisZiebebi gansakuTrebiT mas Semdeg gaxdeba aqtualuri, roca

krizisi prognozirebulze ufro metad gaRrmavdeba da damatebiT fiskalur cvlile-

bebs moiTxovs.

46. meore, saqarTvelom prioritetulad cno mniSvnelovani infrastruqtu-

ruli samuSaoebis xelSewyoba, rac, Tavis mxriv, daaCqarebs ucxour da Siga inves-

ticiebs. arsebuli infrastruqturis raodenobiT, saqarTvelo CamorCeba ECA-s re-

gionSi Semaval sxva qveynebs, rac TvalsaCinod aisaxeba transportis, energetikis da

telekomunikaciebis mocemuli maCveneblebiT (ix. naxazi 3). msgavsi CamorCena SeimCneva

infrastruqturis xarisxis maxasiaTeblis mixedviTac. mTavroba aRiarebs, rom dReisaT-

vis Seqmnil viTarebaSi am infrastruqturebis gansaviTareblad saxelmwifo investicie-

bma wamyvani roli unda Seasrulos. es gansakuTrebiT exeba gzebis reabilitacias. Tumca,

xelisuflebam ukve CarTo kerZo investorebi energetikis, aeroportebis, telekomu-

nikaciebis, portebis infrastruqturebis Seqmnisa da aRdgenis saqmeSi. aucilebelia,

24 25

investiciebis ZiriTadi nawili moxmardes saqarTvelos, rogorc tranzituli qveynis,

potencialis gazrdas, regionebisa da gasaRebis bazrebis myar urTierTkavSirs. saqarT-

velo aseve aris wamyvani qveyana navTobisa da gazis tranzitis ganxorcielebis Tvalsaz-

risiT. gansakuTrebiT mniSvnelovani xdeba infrastruqturis ganviTareba, raTa saqarT-

velom Tavisi strategiuli mdebareobis upiratesobiT im droisaTvis isargeblos, roca

TandaTanobiT imdenad Semcirdeba saqarTvelosTan dakavSirebuli politikuri riskebi,

rom igi investors aRar daabrkolebs.

naxazi 3: infrastruqturis xarisxis maCvenebeli: saqarTvelo

da ECA-s sxva qveynebi

a l s

5 c

n a

ECA

1991-9898 1999-0303 2004-0606

a 0 s ENP55 S E

1991-98 1999-03 2004-06

1.8

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

0.0

0.2

0.4

0.6

0.8

1.4

1.2

1.0

saqarTvelo

saqarTvelo

samrewvel.ekonomiuri

evro-kavSi-ri 15 evrokav-

Siri 10

aRmos.azia da okean.

laT.amerika

balt.qveynebi

ds samx.aRm evropaE

wyaro: kalderoni da serveni, ganaxlebuli, 2008 wlis ivlisi

47. pirveli, saqarTvelom umTavres prioritetad transportirebis sistemis

modernizacia wamoayena. saqarTvelos satransporto sistema istoriul abreSumis

gzasTan damakavSirebeli sakvanZo punqtia, romelsac konkurencias uwevs evropis

centralur aziasTan damakavSirebeli satransporto derefani (TRACECA). rogorc

geografiuli mdebareobis, ise arsebuli infrastruqturis mxriv, saqarTvelos Tav-

isuflad SeuZlia transportirebis gazrdil moTxovnilebaTa dakmayofileba. igi um-

oklesi gziT akavSirebs rogorc evropasa da azerbaijans, ise somxeTsa da centraluri

aziis respublikebs Savi zRvis portebis meSveobiT. aRmosavleT-dasavleTis Cqaros-

nuli magistralis modernizacia da centralur magistralTan damakavSirebeli damx-

mare gzebis reabilitacia 1 mln. aSS dolarze metadaa Sefasebuli. aqedan gamomdinare,

mTavrobam sxvadasxva segmentis reabilitaciaSi daxmareba saerTaSoriso ganviTarebis

calkeul saagentoebs sTxova. aRmosavleT-dasavleTis Cqarosnul magistralze Catare-

buli samuSaoebis saxiT, msoflio banki ukve afinansebs yvelaze metad datvirTul mon-

akveTs. sxva donorebi (maT Soris, JICA, ADB-i da MCC-i) sxvadsxva monakveTs afinanseben

da saqarTvelos mTavroba kidev eZebs damatebiT wyaros sxva segmentebis dasafinanse-

blad. saqarTvelos rkinigza kidev erTi ZiriTadi marSrutia aRmosavleT-dasavleTis

satranzito derefanTan erTad, gansakuTrebiT maSin, roca saqme exeba navTobisa da nav-

Tobproduqtebis tranzits. am marSrutebis tvirTgamtarobis gasaZliereblad da maqsi-

maluri mogebis misaRebad, umokles periodSi Tbilisidan baTumis da foTis portebamde

rkinigzis liandagebis infrastruqturis modernizaciisTvis saqarTvelo daaxloebiT

500 mln. aSS dolaris investicias gegmavs.

26 27

naxazi 4: 2004-2008 wlebis mniSvnelovani energoavariebis ricxvi

wyaro: GSE, energogadamcemi kompaniis wliuri angariSi, 2008. aq ar aris monacemebi dabali Zabvis mizeziT gamowveuli avariebis Sesaxeb.

48. meore, ukanasknel periodSi mTavrobam mniSvnelovani nabijebi gadadga

ener getikisa da gazis problemebis mogvarebaSi. energetikis sistemaSi mkveTrad Sem-

cirda sistemis gaTiSvis xangrZlivoba. dRis ganmavlobaSi 15-20-saaTiani gaTiSvis nacv-

lad, dedaqalaqis gare regioni faqtobrivad uwyvet momaragebaze gadavida (ix. naxazi 4).

seqtoris amgvari totaluri gaumjobeseba nawilobriv dakavSirebuli iyo eleqtroen-

ergiis generaciisa da ganawilebis privatizaciasTan. saqarTvelom aseve moaxerxa ener-

gomomaragebis stabilurobis sakiTxis mogvareba, rac azerbaijanidan samxreT kavkasiis

axali milsadenisa (SCP) da sxva milsadenebis gavliT gaziT momaragebas ukavSirdeba.

mas Semdeg, rac saqarTvelom ufro stabiluri da saimedo energetikuli seqtoris Seqmna

SeZlo, misi Semdegi amocanaa eleqtroenergiis gamomuSavebis gazrda. amiT igi Siga baz-

ris samomavlo moTxovnebs daakmayofilebs. energiis eqsportis saSualebiT ki moaxdens

Semosavlebis generirebas da gazrdis energiis efeqtianobas Siga moxmarebisaTvis. miuxe-

davad imisa, rom saqarTvelos mTeli hidroenergetikuli potencialidan mxolod 12%-

ia gamoyenebuli, energiis saukeTeso damatebiT wyarod kvlav hidroeleqtrosadgurebi

miiCneva. energosaimedoobasTan dakavSirebuli strategiis farglebSi eqsportze ori-

entirebuli eleqtroproduqciis sawarmoeblad uaxloes periodSi mTavroba apirebs

kerZo investiciebis moZiebas mcire hesebis asagebi samuSaoebisaTvis. saSualovadian da

grZelvadian perspeqtivaSi mTavroba ufro did hidroenergetikul proeqtebs ganixi-

lavs. hidroenergiis Semdgomi gamoyeneba aseve moiTxovs eleqtroenergiis gadacemis

SesaZleblobebis gaZlierebas Siga da saeqsporto moxmarebisaTvis. es sakiTxic parale-

lurad ganixileba. aqve aucilebelia maregulireblis CarTvac, radgan saqme exeba ener-

getikis kerZo uzrunvelyofas.

49. mesame, globalurad, konkurentuli saSualo Semosavlebis mqone qveynisaT-

vis unarebis ganviTareba sakvanZo sakiTxs warmoadgens. BEEPS-is 2008 wlis kvlevis

mixedviT, gamokiTxuli firmebis 38%-ma ganacxada, rom saqarTveloSi biznesis war-

moebas udides dabrkolebas uqmnis aucilebeli unarebis uqonloba. amitom, mTavroba

ganaTlebis mimdinare reformebis meSveobiT unarebis kvalifikaciis amaRlebasac axor-

cielebs. am reformebiT Semcirdeba gansxvaveba, romelic arsebobs samuSao Zalis pro-

fesiul unarebsa da Tanamedrove, globalurad integrirebuli ekonomikisaTvis saWiro

5

2

0 0 0

5

14

11

3

00

2

4

6

8

10

12

14

16

2004 2005 2006 2007 2008

sruli avariuli gaTiSvebi

nawilobrivi avariuli gaTiSvebi

26 27

unarebs Soris. reformebi iTvaliswinebda: saswavlo programis modernizacias, akademi-

uri miRwevebis zedamxedvelobasa da angariSgebas, treningebs profesiul ganaTlebaSi,

reabilitacias saskolo infrastruqturaSi (rasac yuradReba ar eqceoda ganukiTxaobis

wlebSi), erovnuli da saerTaSoriso testirebebis danergvas, progresis kriteriumebis

SemoRebas, gamWvirvale misaRebi gamocdebis damkvidrebas per capita-s dafinansebis gasa-

Zliereblad. ganaTlebis Sesaxeb axali kanonis SemoRebiT mTeli qveynis teritoriaze

Seiqmna saskolo sameurveo sabWoebi. 2008 wels damatebul iqna me-12 klasi. mTavroba

swavlebis Sedegebis Semowmebas Seudga maTematikis, TIMSS-is da, aseve, PIRLS-is kriteri-

umebiT. misi ufro grZelvadiani perspeqtivaa, SeinarCunos da ganaviTaros ganaTlebis

reforma. dawyebiTi da saSualo ganaTlebis ZiriTadi reformebi ukve gatarebulia. sa-

Sualo skolis reformis Semdeg saqarTveloSi dReisaTvis prioritetulia profesiuli

da teqnikuri ganaTlebis reforma. mTavroba miiCnevs, rom saWiroa umaRlesi ganaTlebis

konsolidireba da ganmtkiceba, misi dakavSireba biznessa da samecniero sazogadoe-

basTan, agreTve, profteqnikuri ganaTlebis gaZliereba.

50. meoTxe, mTavrobas miaCnia, rom kerZo sawarmoebisa da investiciebis mxar-

dasaWerad mniSvnelovania, gaZlierdes sabaziso saxelmwifo instituciebi da sa-

kuTrebis ufleba. kanonmdeblobis Semdgomi ganmtkiceba, maT Soris, sakuTrebis ufleb-

is dacva, kontraqtebisadmi ndobis faqtoris gaZliereba, davis gadaWris meqnizmebis

gaumjobeseba da saerTaSoriso teqnikuri standartebis SemoReba aucilebelia savaWro

seqtorSi biznesis gasafarToeblad. am mxriv garkveuli winsvla SeimCneva. mTavroba ax-

orcielebs sasamarTlo reformebs, romlebic mimarTulia samarTlebrivi normebis ga-

Zlierebisaken, kerZod, sakuTrebis uflebis dacvisaken. garda amisa, bolo dros mTav-

robam gadawyvita, Seeqmna specialuri komisia. misi mizani iqneba, Camoayalibos programa,

romelic arCeul samrewvelo sferoebSi imuSavebs saerTaSoriso da evrokavSiris stan-

dartebisa da teqnikuri reglamentis Sesabamisad. es aucilebloba gamoiwvia evrokavSir-

sa da saqarTvelos Soris Tavisufali vaWrobis Sesaxeb molaparakebebisaTvis (romelic

aRmosavleT TanamSromlobis xelSekrulebas (EPA) Seesabameba) mzadebam.

51. mexuTe, mTavroba miiCnevs, rom biznesis garemos gaumjobeseba qveynis ga-

reT misi konkurentulobis zrdis ZiriTadi saSualebaa. ukanaskneli xuTi wlis

ganmavlobaSi mkveTrad gaumjobesda biznesgaremo, magram gadasaxadebis gadaxdis da

sazRvargareT ganxorcielebuli savaWro operaciebis xarjebi dabrkolebas uqmnis

saqarTveloSi biznesis ganviTrebas. biznesgaremos segmentebs gadasaxadebis gadaxda da

sazRvargareT vaWroba Seadgens (ix. cxrili 4). biznesis warmoebis ukanaskneli kvleve-

biT, am mimarTulebiT saqarTvelo SedarebiT moisustebs. am ori maxasiaTeblis mixed-

viT, saqarTvelo mniSvnelovnad CamorCeba Tavis sakmaod maRal saerTo reitings _ 15,

sadac gadasaxadebis gadaxdis reitingia 110, xolo sazRvargareT vaWrobis ki Sesabam-

isad _ 816. 2008 wlis BEEPS-is kvlevis mixedviT, yoveli oTxi firmidan erTs biznesis

warmoebis saqmeSi gadasaxadebis gadaxda did dabrkolebad miaCnia. meore mxriv, yoveli

xuTi firmidan erTi sabaJos im sferod aRiqvams, sadac cvlilebebis gatareba aucile-

belia. bolo wlebSi mniSvnelovani warmatebebiT aRiniSna axali sabaJo procedurebi,

sadac riskis faqtori iyo gaTvaliswinebuli, magram jer kidev bevria Sesacvleli. ga-

6. Tumca, saqarTvelo Tavisi reitingiT mniSvnelovnad CamorCeba ,,biznesis daxurvis~ sakiTxSic. bolo dros miRebulia axali kanoni ,,gakotrebis Sesaxeb~, romelic amcirebs gakotrebuli kompaniis reorganizaciis vadebsa da debitoris aqtivebis gadacemas, ris Sedegadac mosalodnelia am sakiTxis gaumjobesebac.

28 29

dasaxadebis gadaxdasTan dakavSirebuli xarjebisa da eqsport-importis xarjebis Sem-

cireba is Zireuli berketebia, romlebic qveynis gareT saqarTvelos konkurentulobis

gaumjobesebas uwyobs xels. garda amisa, arsebobs korporaciuli finansuri menejmen-

tis gaumjobesebis programa, romelic detaluradaa aRwerili 2007 wlis sabuRaltro

da saauditoro angariSSi standartebisa da kanonis dacvis Sesaxeb (ROSC)7. igi iTval-

iswinebs organizaciebis finansuri angariSgebis saerTaSoriso (IFRS) da buRalteriis

saerTaSoriso standartebze (ISA) dafuZnebul gaZlierebas.

cxrili 3: biznesis warmoebis reitingi

kategoria biznesis warmoeba 2008biznesis warmoeba

2009biznesis dawyeba 10 4samSeneblo licenziebis aReba 11 10samuSaoze ayvana 4 5sakuTrebis registracia 11 2kontraqtebis ZalaSi Sesvla 42 43biznesis daxurva 105 92gadasaxadebis gadaxda 102 110sazRvargareT vaWroba 64 81kreditis aReba 48 28investorebis dacva 33 38mTliani reitingi 18 15

wyaro: msoflio banki, angariSebi biznesis warmoebis Sesaxeb, 2008 da 2009 wlebi.

52. mTavroba aseve iziarebs zedamxedvelobisa da Sefasebis sistemis gaZliere-

bis aucileblobas, raTa ukeT gaiTavisos ganviTarebis zemoT aRniSnuli perspeqti-

vebi. am sistemisaTvis umniSvnelovanesia ekonomikuri da socialuri mdgomareobis

Sesaxeb sando statistikuri monacemebis drouli wardgena. es informacia erTnairad

aucilebelia swori gadawyvetilebebis misaRebad rogorc maRali rangis Tanamdebobis

pirTaTvis, ise investorebisaTvisac. saqarTvelo araerTgzis dazaralda erovnuli

statistikis dabali xarisxis gamo. magram amjerad xelisuflebam wamoiwyo reforme-

bis axali programa axali statistikuri sistemis Sesaqmnelad. jansaR saerTaSoriso

gamocdilebaze dayrdnobiT, masSi aRibeWdeba realuri, maRalxarisxovani da saimedo

statistikuri monacemebi. axlaxan mTavrobam parlamentSi dasamtkiceblad waradgina

axali kanonproeqti statistikis gasaZliereblad, romelic iTvaliswinebs statistikis

saagentos Camoyalibebas damoukidebel organod, saerTaSoriso praqtikaSi aRiarebuli

meTodebisa da samarTlebrivi normebis miRebas, aseve, instituciuri da kadrebis poten-

cialis gaumjobesebas.

7. sabuRaltro da saauditoro angariSi samarTlebrivi normebisa da kodeqsebis dacvis Sesaxeb (ROSC), 2007 weli, ianvari.

28 29

III. msoflio bankis jgufis strategia.

a. CPS wina programis ganxorcieleba

53. CPS-is programa 2006-2009 fiskaluri wlebisaTvis vardebis revoluciis

Semdgom periodSi momzadda. sul raRac 18 Tvis Semdeg axalma mTavrobam daiwyo re-

formebis gatareba ganviTarebis sferoSi. reformebi moicavda makro da fiskaluri

mdgomareobebis stabilizacias, infrastruqturis gaZlierebas, axali reformebis

gatarebas ganaTlebisa da biznesis sferoSi da siRaribesTan brZolas. am swrafi re-

formebis gamocdilebis gaTvaliswinebiT, bolo CPS-is ZiriTad mizans warmoadgenda

saqarTvelos daxmareba reformebis ganxorcielebis meore fazaSi, romelic sam sferos

moicavda:

• zrdisa da axali samuSao adgilebis Seqmna kerZo seqtoris ganviTarebaSi bariere-

bis gauqmebiT da infrastruqturis, bazrebisa da finansebis gaumjobesebis meS-

veobiT;

• ganviTarebisa da socialuri dacvis gafarToeba gaumjobesebuli ganTlebis,

janmrTelobis, socialuri dacvisa da sazogadoebrivi momsaxurebis meSveobiT;

• saxelmwifo seqtoris marTvisa da sabiujeto procesebis gaZliereba ganviTare-

bis sakuTari miznebis ukeT dagegmvisa da ganxorcielebisaTvis.

54. CPS-is ZiriTad nawils Seadgenda siRaribis daZlevis xelSewyobis ramden-

ime operacia (PRSOs), riTac msoflio banks saSualeba eZleoda, mniSvnelovani reforma

gaetarebina imgvar sferoebSi, rogorebicaa: energetikuli strategia, saxelmwifo se-

qtoris marTva da socialuri dacvis sistema. CPS-i agreTve xels uwyobda axali inves-

ticiebis ganxorcielebas transportisa da energetikis infrastruqturebSi kerZo seq-

toris garemos gasaumjobeseblad da saqarTvelos, rogorc satranzito qveynis, rolis

gasaZliereblad. bankma aseve gaafarTova misi monawileoba ganaTlebis seqtorSi. am axal

programebs sxvadasxva sferos 18 mimdinare proeqti daemata.

55. rogorc Tavidanve iyo gaTvaliswinebuli, CPS-i mxolod IDA-s dafinansebas

eyrdnoboda, vinaidan programis momzadebis periodSi, sakredito saimedoobis Tvalsaz-

risiT (maT Soris, valebis donis gaTvaliswinebiT), ver xerxdeboda IBRD-is finansebis

gamoyeneba. IDA-s mier gansazRvruli Tavdapirveli Tanxa Seadgenda 143 mln. aSS dolars.

mogvianebiT, roca IDA-s Sedegebze orientirebuli dafinansebis ganawileba mkveTrad

gaumjobesda, saagentom SeZlo CPS-is periodSi saqarTvelosaTvis 267 mln. aSS dolari

gamoeyo. CPS-is saSualovadiani angariSis wardgenisas gakeTda prognozi, rom ukve 2009

wlis fiskalur weliwadSi saqarTvelos SeeZlo sesxi mieRo IBRD-isgan. marTlac, bankma

2009 wlis fiskalur weliwadSi 750 mln. aSS dolaris odenobis Tanxa gamoyo (Sesabamisad,

IDA-isa da IBRD-is Tanxebma, erToblivad, 337 mln. aSS dolari Seadgina).

56. saerTaSoriso safinanso korporaciis (IFC) pirveladi strategiuli in-

teresi finansur seqtors Seexeboda. igi daxmarebas uwevda finansur seqtors rogorc

sakonsultacio momsaxurebiT, ise investiciebiT, raTa xelmisawvdomi gamxdariyo fin-

ansuri produqtis ufro farTo speqtri. CPS-is periodSi IFC-m oTxi banki daafinansa

30 31

mcire da saSualo sawarmoebis, saxlebis mSeneblobisa da vaWrobis investirebis mxar-

dasaWerad. imis gaTvaliswinebiT, rom ormagi krizisis dros, CPS-is bolo wels, IFC-m

ZiriTadi fuladi resursebi umsxvilesi komerciuli bankebis sicocxlisunarianobis

SesanarCuneblad warmarTa, bankebi sarisko kreditebis gagrZelebis safrTxis winaSe

dadgnen. biznesmenebisa da mosaxleobisaTvis dafinansebis xelmisawvdomobis gasafar-

Toebad, finansuri Suamavlebis meSveobiT, IFC-i cdilobda, pirdapiri investicia ganex-

orcielebina eqsportze orientirebul kompaniebSi an im kompaniebSi, romlebic momsax-

urebas eweodnen kerZo seqtoris ganviTarebis mxardasaWerad. IFC-m am mizniT daafinansa

Tbilisis aeroporti, raTa sargebeli moetana saqarTvelos mogzaurobisa da turizmis

biznesisaTvis; aseve, ganaxorciela ori finansuri operacia biznesisa da sacalo vaWro-

bis infrastruqturis gansaviTareblad. sabolood, dRevandeli monacemebiT, 2006

fiskaluri wlis dasawyisSi IFC-m sakuTari portfeli 54 mln. aSS dolaridan 312 mln. aSS

dolaramde gazarda. IFC-m aseve ganaxorciela CPS-iT gaTvaliswinebuli mniSvnelovani

sakonsultacio programa biznesis garemos gasaumjobeseblad, korporaciuli marTvis

praqtikis gasaZliereblad da axali finansuri produqtebis Semosatanad, kerZod, igi

Seudga muSaobas energetikis efeqtianobis dasafinanseblad.

2008 wlis agvistos konfliqtamde miRweuli Sedegebi

57. pirvel komponentSi, romelsac kerZo seqtoris waxaliseba warmoadgens

da romelic ekonomikur zrdasa da axali samuSao adgilebis Seqmnas uwyobda xels,

msoflio bankis jgufis programam sasurveli Sedegebi gamoiRo. mniSvnelovan mak-

roekonomikur safuZvlebze dayrdnobiT, daCqarda ekonomikuri zrda da gatarda far-

To struqturuli reformebi, romelTa saSualebiT konsolidirebuli gaxda sabazro

ekonomikis instituciebi. PRSO-s seriebisa da infrastruqturaSi Cadebuli investicie-

bis meSveobiT, msoflio bankis programam Tavisi wvlili Seitana am Sedegebis miRwevaSi,

ZiriTadad, sabanko da uZravi qonebis seqtorSi Cadebuli investiciebiT. IFC-is inves-

ticiebi da sakonsultacio momsaxureba wamyvan elementad iqca am mimarTulebisaTvis.

58. rac Seexeba meore mimarTulebas, ganviTarebas da socialur dacvas, winsvla

aqac sakmaod SesamCnevi iyo. ganaTlebis sistemaSi Cadebuli investiciebi xels uwyob-

da saswavlo programebis reformis mimdinareobas da skolebis dafinansebas. danarCeni

miRwevebi moicavs skolebis ganaxlebas, maTi marTvis sistemis restruqturizacias da

axali gamWvirvale sagamocdo sistemis SemoRebasa. msoflio banki aseve daexmara saerTa-

Soriso ekonomikuri skolis (ISET) dafinansebasa da daarsebas. es skola efuZneba saer-

TaSoriso saswavlo praqtikas, exmareba umaRlesi ganaTlebis gaZlierebas da stimuls

aZlevs faqtebze damyarebuli ekonomikuri strategiiT sargeblobas. CPS-is vadis dasas-

rulisTvis IFC-m bank ,,respublikasTan~ erTad SemoiRo studenturi sesxis programa.

janmrTelobis proeqtis restruqturizaciam xeli Seuwyo janmrTelobis momsaxurebis

kerZo seqtorSi gadasvlas, ris meSveobiTac Raribi mosaxleobisTvis xelmisawvdomi gax-

da janmrTelobis dazRveva. rac Seexeba socialur dacvas, PRSO saxelmwifos daexmara

ZiriTadi miznis miRwevaSi, kerZod, axali miznobrivi socialuri daxmarebis programis

SemoRebaSi. gaanalizda da safuZvlianad Sefasda siRaribis done, saTanadod momzadda

sruli Sefasebis dokumenti, romelic eyrdnoboda siRaribis komponentebis mimoxilvas

da mis kavSirs dasaqmebasTan. es naSromi 2009 wlis maisSi daibeWda.

30 31

59. mesame mimarTuleba, saxelmwifo seqtoris marTvis gaZliereba: msoflio

ban kis daxmarebiT miRebuli savaraudo Sedegebi warmatebuli aRmoCnda zogierT

warumatebel sferoSi. igulisxmeba ZiriTadi miRwevebi biujetis Sedgenis gaumjobese-

basa da mravalwliani sabiujeto sistemis SemoRebaSi. saxelmwifo seqtoris finansuri

marTvis reformis xelSemwyobi proeqtis msgavsad, mas mxars uWerda PRSO-s programe-

bi. municipaluri ganviTarebisa da decentralizaciis proeqti da PRSO-s programebi

erToblivad uwyobdnen xels mTavrobaTaSoris axali dafinansebis sistemis Seqmnas,

romelsac fondebi adgilobriv biujetSi ufro gamWvirvale da efeqturi gziT gadaaqvs.

miuxedavad imisa, rom saxelmwifo Sesyidvebis sakiTxSi naklebi winsvla aRiniSneboda,

saxelmwifo Sesyidvebis Sefasebis (CPA) da saxelmwifo xarjebisa da finansuri angariS-

gebis Sefasebis (PEFA) programebis meSveobiT Seiqmna Sesabamisi proeqti. igi momavali

Sedegebis dasaxul gegmasTan Sejerda. boloxans miRebuli axali kanoni kontrolis pa-

latis statusis gazrdisa da misi moqmedebis principebis Camoyalibebis Sesaxeb, romel-

ic saerTaSoriso standartebs eyrdnoba, PRSO-s programebis mniSvnelovani miRwevaa.

gacilebiT dabali iyo progresi sasamarTlo reformebSi.

2009 fiskaluri wlis konfliqtis Semdgomi mxardaWera

60. CPS-is bolo wels, 2008 wlis agvistos konfliqtidan gamomdinare, msoflio

bankma Secvala midgoma, raTa asaxuliyo rogorc konfliqtis Semdgomi aucilebeli

saWiroebebi, ise grZelvadiani ganviTarebis miznebi. msoflio bankma mniSvnelovani

analitikuri samuSao Caatara JNA-s programis nawilSi. evrokavSirTan erTad man aseve

moawyo donorTa konferencia 2008 wlis oqtomberSi. analitikur samuSaos IDA-s mxri-

dan damatebiTi dafinanseba axlda: 2008 wlis oqtomberSi vada gaugrZelda daaxloebiT

100 mln. aSS dolaris kredits (PRSO-4-is damateba (40 mln. aSS dolari)); regionuli da

municipaluri infrastruqturis ganviTarebis proeqti IDP-is saxlebis mSeneblobis

specialuri komponentiT (40 mln. aSS dolari) da damatebiTi dafinanseba aRmosavleT-

dasavleTis Cqarosnuli magistralis meore proeqtisaTvis (20 mln. aSS dolari)).

61. agvistos konfliqtis Semdgom periodSi msoflio banki gansakuTrebiT

mWidrod TanamSromlobda danarCen donorebTan da mTavrobasTan IDP-isaTvis sax-

lebis mSeneblobasTan dakavSirebiT. mTavrobasTan erToblivi da operatiuli Zalisx-

meviT 2008 wlis dekembris dasawyisSi dasrulda IDP-is saxlebis mSenebloba, rac munici-

paluri ganviTarebis fondis (MDF) kreditis daxmarebiT xorcieldeboda. amiT qveynis

SigniT iZulebiT gadaadgilebuli mosaxleobis umetes nawils SesaZlebloba mieca Ses-

axlebuliyo axal saxlebSi da droebiTi TavSesafari zamTris siciveebis dawyebamde

daetovebina. msoflio bankma aseve xeli Seuwyo strategiuli dialogis gagrZelebas

ekonomikuri marTvis Sesaxeb. is daexmara finansTa saministros, gaefarToebina ucxouri

daxmarebis mozidva. danarCen donorebTan aqtiuri TanamSromlobiT bankma xeli Seuwyo

2008 wlis kreditebis gacemas. IDP-is saWiroebaTa mxardasaWerad 2009 wlis TebervalSi

msoflio bankma granti mSvidobis mSeneblobisaTvis 2.2 mln. aSS dolaramde gazarda.

62. 2009 wlis martSi direqtorTa sabWom daamtkica saqarTvelosaTvis gamoyo-

fili IBRD-is pirveli sesxi 70 milioni dolaris odenobiT Sigasaxelmwifoebrivi da

adgilobrivi gzebis mSeneblobisaTvis. amiT Sesrulda msoflio bankis briuselis piro-

bis erTi nawili. aRniSnuli sesxi xels Seuwyobs moklevadiani samuSao adgilebis Seqmnas

32 33

saqarTvelos sxvadasxva regionSi, agreTve, aamaRlebs qveynis konkurentulobas saSua-

lovadian perspeqtivaSi.

63. IFC-m agvistos konfliqtis Semdeg daxmareba daaCqara. msoflio bankis jgu-

fis farglebSi korporaciam saWiroebaTa erTobliv Sefasebaze Seuferxeblad imuSa-

va. man Seafasa kerZo da finansuri seqtorebis saerTo mdgomareoba da saqarTvelos

gamouyo daaxloebiT 250 milioni dolari. es daxmareba (EBRD-Tan, FMO-Tan da OPIC-

Tan erTad) aseve iTvaliswinebda dafinansebas saqarTvelos ori udidesi bankisaTvis _

saqarTvelos bankisa da Ti-bi-si bankisaTvis. amgvari mxardaWera metad mniSvnelovani

da drouli iyo. man am bankebs saSualeba misca, SeesrulebinaT 2009 wlis refinansirebis

valdebulebani da SeenarCunebinaT finansuri stabiluroba. garda amisa, saqarTvelos

bankebisaTvis gamoyofili ori savaWro sakredito xaziT IFC mxars uWers savaWro nakade-

bis uwyvetobas da ganagrZobs investirebas biznesisa da sacalo vaWrobis infrastruq-

turis gaumjobesebaSi. sakonsultacio momsaxurebis farglebSi korporaciam kidev

erTxel warmarTa Tavisi saqmianoba axlad warmoqmnili saWiroebebisaken. man gamoikv-

lia, ra zegavlena iqonia krizisma mcire da saSualo sawarmoTa mdgomareobaze, aseve

treningebi Cautara kerZo bankirebsa da uimedo sesxebis marTvis regulirebis special-

istebs.

miRebuli gakveTilebi

64. CPS-Si asaxulia ramdenime mniSvnelovani gakveTili. es gakveTilebi efuZne-

ba qveynis daxmarebis Sefasebis Sedegebs da CPS-is dasrulebis angariSs 2006-2009 wleb-

isaTvis. 2008 wels damoukidebel SemfasebelTa jgufma Seafasa qveynis daxmareba da

gaaanaliza msoflio bankis muSaoba saqarTveloSi 1994 wlidan 2007 wlamde. am analizis

daskvnebia: (I) uaRresad mniSvnelovania saqmianobaTa fokusireba klientis moTxovnis Se-

sabamisad, sesxebis konsolidireba da analitikuri samuSaos Catareba; (II) aucilebelia

sxva partniorebTan koordinaciis gaZliereba da ufro aqtiuri erToblivi muSaoba Tav-

ad msoflio bankis jgufis SigniT, (III) aucilebelia imis uzrunvelyofa, rom bankis oper-

aciebiT gaZlierdes institutebi, monitoringi da Sefaseba, gaumjobesdes infrastruq-

tura; (IV) saWiroa proeqtis ganmaxorcielebeli erTeulebis integrireba samTavrobo

institutebsa da saministroebTan.

65. CPS-is dasrulebis angariSSi 2006-2009 wlebisaTvis igive gakveTilebia

naxsenebi da igive daskvnebia gakeTebuli. marTlac, rekomendaciaTagan umravlesi

asaxulia CPS-Si. garda amisa, CPS-is dasrulebis angariSSi gamokveTilia, Tu ramdenad

efeqtiania: (I) politikaze dafuZnebul da sainvesticio operaciebs Soris arsebuli

balansi da maT Soris maqsimaluri sinergiis miRweva; (II) programuli midgoma rogorc

sesxebis gacemisas, ise teqnikuri daxmarebisas, yuradRebis gamaxvileba daxmarebis

droulad gawevaze da (III) im personalisa da gamocdili kadrebis SenarCuneba, romlebic

qveyanas da dargebs siRrmiseulad icnoben. amavdroulad, im axali personalis ayvana,

romelic axal xedvasa da ideebs Semoitans.

32 33

b. CPS axali programa 2010-2013 fiskaluri wlebisaTvis

66. CPS-i asaxavs saqarTveloSi arsebul rTul ekonomikur mdgomareobas. igi

saqarTvelos xelisuflebis or ZiriTad strategiul mimarTulebas eyrdnoba: (I) kon-

fliqtis Semdgomi da socialurad daucveli mosaxleobis saWiroebaTa sapasuxo qmede-

bebis gatareba da (II) ekonomikuri zrdisa da konkurentulobis gaZliereba. pirveli mi-

marTulebis farglebSi xelisuflebam unda miaRwios makroekonomikur stabilurobas

da swor fiskalur marTvas, Seqmnas samuSao adgilebi, socialuri momsaxureba da gaaZli-

eros finansuri seqtori. meore mimarTulebis farglebSi unda gagrZeldes saqarTvelos

struqturuli reformis programis mxardaWera, raTa saSualovadian perspeqtivaSi qvey-

anaSi gaumjobesdes kerZo seqtoris funqcionirebisaTvis saWiro garemo da man satran-

zito derefnis funqcia daimkvidros. yovelive es seriozuli dakvirvebis konteqstSi

ganxorcieldeba (rogorc CPSCR-sa da CAE-Sia aRniSnuli).

67. sferoebSi, romlebidanac saTanado Sedegebia mosalodneli, msoflio banki

mxars swori marTvis praqtikis danergvas Semdegi oTxi saSualebiT dauWers: (I) fi-

ducialuri funqciebis Sesruleba (auditi, Sesyidvebi, monitoringi) sainvesticio op-

eraciebis farglebSi; (II) saxelmwifo da kerZo institutebis unarianobis gaZliereba

ukeTesi momsaxurebis gasawevad, (III) monitoringisa da Sefasebis sistemis gaumjobeseba

proeqtebis Sesabamisi dizainiTa da warmatebuli ganxorcielebiT da (IV) yuradRebis

gamaxvileba komunikaciebis gaumjobesebaze.

strategiuli mizani 1: konfliqtis Semdgomi da socialurad daucvel pirTa saWiroe-

baTa dakmayofileba

Sedegebi sferoSi I: ekonomikuri stabilurobis SenarCuneba da samuSao adgilebis

Seqmna

• Sedegi 1: saxelmwifo resursebis marTvis gaumjobeseba;

• Sedegi 2: ZiriTadi finansuri institutebis muSaobis gaumjobeseba;

• Sedegi 3: bankis mier dafinansebul proeqtebSi meti adamianis dasaqmeba;

• Sedegi 4: ganaTlebis ukeTesi xarisxi.

68. saxelmwifo resursebis marTvis gaumjobeseba. ormagi krizisis periodSi

udidesi mniSvneloba eniWeba ekonomikuri stabilurobis SenarCunebasa da saxelmwifo

xarjebis marTvis gaumjobesebas. msoflio banki saqarTvelos mTavrobasTan erTad im-

uSavebs am mimarTulebebis mxardasaWerad da miRweul Sedegebs zedamxedvelobas ekono-

mikuri indikatorebis safuZvelze gauwevs (magaliTad, zrda, inflacia, valis mdgrado-

ba da sxva). saxelmwifo saxsrebis xarjvis prioritetebis saTanadod gansazRvrisaTvis

msoflio banki saqarTvelos mTavrobas gansakuTrebiT anticikluri xarjebis marTvaSi

daexmareba. amiT xeli Seewyoba ekonomikur zrdas da RaribebisaTvis gankuTvnil ZiriTad

socialur programebze orientirebul xarjvas. am midgomis erT-erTi elementi Semosav-

lebis administrirebis gaumjobeseba iqneba, raTa saqarTvelom Sesabamisi fiskaluri

sivrce donorTa daxmarebebis Semcirdebis Semdegac SeinarCunos. es qveyanas daexmareba,

Seqmnas eleqtronuli gadaxdebis sistema da riskebze dafuZnebuli sagadasaxado da saba-

34 35

Jo auditi. mdgradi fiskaluri sistemis Seqmnisas aseve mniSvnelovania im sistemebis ga-

Zliereba, romelTa meSveobiT mTavroba saTanadod gansazRvravs xarjvis prioritetebs. DPO-s seriebi umTavres rols Seasrulebs saqarTveloSi swori sabiujeto procesis

warmarTvisaTvis. igive politika saTanado dafinansebiT uzrunvelyofs socialuri

usafrTxoebis qselebs, saxelmwifo momsaxurebas da prioritetul infrastruqturas.

amasTan erTad, ganxorcieldeba saxelmwifo seqtoris finansuri marTvis reformis mx-

ardamWeri proeqti. saqarTvelo yovelwliurad miiRebs analitikur mxardaWeras, rac

saxelmwifo xarjebis Seswavlis saSualebiT ganxorcieldeba. am RonisZiebebs daemateba

fiducialuri kontrolis gaumjobeseba, romelic aRwerilia 2008 wlis saxelmwifo xar-

jebis finansuri angariSvaldebulebis da qveynis Sesyidvebis sistemis SefasebaSi. bankis

saxazino departamenti saqarTvelos mTavrobas valis marTvSic daexmareba.

69. ZiriTadi finansuri institutebis muSaobis gaumjobeseba. 2009 fiskalur

wels finansuri seqtoris stabilurobis SesanarCuneblad IFC-m, EBRD-ma da sxva orga-

nizaciebma mniSvnelovnad daafinanses saqarTvelos ori udidesi banki. miuxedavad amisa,

sabanko seqtori riskis wyarod rCeba. am periodis ganmavlobaSi saqarTvelo miznad isax-

avs, gaaZlieros Tavisi sabanko da monitoringis sistemebi, gaaZlieros bankebis mier sesx-

ebis gacemis procesi da Seamciros uimedo valebi. IFC-i umniSvnelovanes rols asrulebs

am saqmeSi da sistemurad uwevs finansur daxmarebas bankebs. uimedo sesxebis, riskebis

marTvisa da korporaciuli marTvis sferoebSi is sakonsultacio momsaxurebas awvdis am

bankebs da Tavis saqmianobas ganagrZobs CPS-is mTeli periodis ganmavlobaSi. IFC-i Tavis

moqnil strategias arsebuli viTarebis gaTvaliswinebiT atarebs. misi produqtebisa da

investiciebis moculoba damokidebuli iqneba krizisis xangrZlivobasa da zegavlenaze.

msoflio bankis jgufi Tavis warmatebas, upirveles yovlisa, IFC-is mier mxardaWerili

bankebis finansuri siZlieris mixedviT Seafasebs. msoflio banki da IFC-i IMF-Tan erTad

CPS-is periodSi ganagrZobs finansuri seqtoris sakonsultacio momsaxurebas. finan-

suri zedamxedvelobis organos msoflio bankma gamouyo pirveli granti (romlis aT-

visebac dRemde mimdinareobs) bankebis riskebis Sefasebis efeqtianobis asamaRldeblad.

garda amisa, CPS-Si gaTvaliswinebulia sabanko seqtoris diagnostikac. dialogi ram-

denime sakiTxis irgvliv warimarTeba: sabanko seqtoris stabilurobis CarCo, siZlieris

indikatorebze monitoringis gaZliereba, qveynis Siga kapitalis bazrebis Seqmnisa da

finansuri zedamxedvelobis organos unarianobis gaZliereba. garda amisa, bankTaSorisi

transferebis da fasiani qaRaldebis depozitis sistemebis gasaZliereblad msoflio

banki teqnikurad daexmareba gadaxdebis sistemis gaumjobesebas.

70. bankis mier dafinansebul proeqtebSi meti adamianis dasaqmeba. mTavrobis

uaxloesi periodis strategiis umTavresi elementia samuSao adgilebis Seqmna, raTa

nawilobriv mainc gawonaswordes ekonomikuri daRmasvlis gamo dakarguli samuSao adg-

ilebis raodenoba. msoflio banki mTavrobas daexmareba samuSao adgilebis raodenobis

gazrdaSi, dasaqmebis Sefasebasa da dasaqmebis gasaZlierebeli politikis SemuSavebaSi.

kerZod, msoflio bankis jgufi saqarTvelos xels Seuwyobs samuSao adgilebis SeqmnaSi

pirdapir an arapirdapir im proeqtebiT, romelTac banki afinansebs. 2009 fiskaluri

wlis ganmavlobaSi msoflio bankma daiwyo ori axali proeqti, romlebic saSualovadian

periodSi ganapirobebs produqtiulobis da ekonomikur zrdas, dauyovnebliv Seqmnis

samuSao adgilebs: pirveli proeqtiT banki gascems sesxs Sigasaxelmwifoebrivi da adgi-

lobrivi gzebis dasafinanseblad, meore ki regionuli da municipaluri ganviTarebis

34 35

proeqtia. 2010 fiskaluri wlisaTvis ganixileba ori axali investicia transportis sf-

eroSi: aRmosavleT-dasavleTis Cqarosnuli magistrali da kaxeTis regionuli gzebis

gaumjobesebis proeqti. am proeqtebiT sakmao odenobiT samuSao adgilebi Seiqmneba mok-

le drois ganmavlobaSi, aseve xeli Seewyoba Semosavlebis zrdasa da mudmivi samuSaoe-

bis Seqmnas. programis farglebSi gaTvaliswinebuli siRaribis SefasebiT gamovlindeba

Sromis bazrisa da krizisis zegavlenis xarisxi mosaxleobaze. IFC-is mier sabanko seq-

torisadmi gaweuli mxardaWeriT mcire da saSualo biznesebs Seuferxeblad miuwvdebaT

xeli dafinansebaze. krizisis periodSi swored es aris biznesis gadarCenisa da samuSao

adgilebis SenarCunebis winapiroba. IFC-is pirdapiri investiciebi da sakonsultacio

momsaxureba uZravi qonebis seqtorSi am kompaniebs samuSao adgilebis Seqmnisa da Senar-

Cunebis saSualebas miscems. garda amisa, IFC-i xels Seuwyobs mikrodafinansebis mocu-

lobis zrdas, rac TviTdasaqmebisa da arsebuli mikrosawarmoebis SenarCunebasa da ga-

Zlierebas waadgeba.

71. ganaTlebix ukeTesi xarisxi: mTavrobas kargad esmis, rom arakvalificiuri

muSaxelisaTvis samuSao adgilebis Seqmna mSeneblobis seqtorSi sakmarisi ar aris. isic

cnobilia, rom samuSao adgilebis odenobis stabiluri zrdisaTvis aucilebelia im si-

carielis Sevseba, romelic dReisaTvis arsebobs Sromis bazarze damkvidrebul unar-

Cvevebsa da konkurentuli ekonomikis pirobebSi saWiro unar-Cvevebs Soris. 2007 wels

qarTvelma studentebma monawileoba miiRes saerTaSoriso testirebaSi. Sedegebi maRali

ar iyo, rac imas niSnavs, rom ganaTlebis sfero met yuradRebas moiTxovs8. axali CPS-is ganmavlobaSi msoflio banki Tavis wvlils Seitans swavlebis Sedegebis gaumjobesebaSi

da saqarTvelos saerTaSoriso da adgilobriv konkursebSi ukeTesi Sedegebis miRebaSi

daexmareba (am proeqtis farglebSi mxardaWerilia TIMMS-isa da PIRLS -is angariSebis

momzadeba). msoflio banki sakuTar warmatebas Seafasebs axali saswavlo programis

100%-iani danergviT dawyebiT da saSualo klasebSi, skolebSi infrastruqturis gad-

audebeli gaumjobesebiTa da maswavlebelTa sertificirebiT. msoflio banki am miznebs

ganaTlebis APL II proeqtiT miaRwevs, romelic 2011 wels unda dasruldes. miuxedavad

imisa, rom umaRlesi ganaTleba am proeqtSi ar Sedis, msoflio bankma moizida iaponiisa

da daniis satrasto fondebi, raTa ganagrZos dialogi umaRlesi ganaTlebis gaZliere-

baze da progresi boloniis standartebis mixedviT Seafasos. CPS-is periodSi msoflio

banki mimoixilavs ganaTlebis seqtoris muSaobas da Seafasebs elementaruli da umaR-

lesi ganaTlebis sferoebSi dRemde miRweul progress. igi daexmareba saqarTvelos

ganaTlebis sistema msoflio klasis standartebs Seusabamos.

Sedegebi sferoSi II: socialuri momsaxurebis gaumjobeseba

• Sedegi 1: miznobrivi socialuri daxmarebis gafarToeba da efeqtianobis amaR-

leba;

• Sedegi 2: jandacvis momsaxurebis ufro metad gafarToeba, rac SesaZlebeli unda

gaxdes biujetis dagegmvis, infrastruqturisa da sainformacio sistemebis gaum-

jobesebis Sedegad;

• Sedegi 3: municipaluri momsaxurebis gaumjobeseba (wyali, adgilobrivi gzebi da a.S.);

8. magaliTad, qarTveli kursdamTavrebulebi 49 qveyanas Soris 33-e adgilze gavidnen maTematikaSi,

xolo 37-ze _ mecnierebaSi.

36 37

• Sedegi 4: iZulebiT gadaadgilebul pirTa gaumjobesebuli sacxovrebeli pi-

robebi da keTildReoba.

72. socialuri dacvis qselebi: 2006 wels saqarTvelom bankis daxmarebiT mniS-

vnelovani nabijebi gadadga miznobriv socialur daxmarebaTa programis efeqtianobis

warmosaCenad. mTavroba aRiarebs, rom msgavsi krizisebis adreul etapze arsebiTi mniS-

vneloba eqneba programis Semdgom gafarToebas. banki ganagrZobs miznobrivi socialuri

daxmarebis mxadaWeras DPO-s programebis farglebSi. igi xels Seuwyobs mTavrobas, raTa

man saTanadod gaiTvaliswinos miznobriv-socialur daxmarebaTa zemoqmedeba da yovel-

wliurad warmoadginos siRaribis donis Sefaseba. banks sakuTari wvlili Seaqvs mTavro-

bis ZalisxmevaSi socialuri dacvis qselebis ganmtkicebis mxriv. igi programis warmate-

bas imis mixedviT Seafasebs, Tu ra konkretul miznebs isaxavs ganviTarebis politika.

mxedvelobaSi miiReba ukidures siRaribeSi myof im pirTa procentuli maCveneblebi,

romlebic daxmarebas socialur momsaxurebaTa gaumjobesebis programis farglebSi

(2009 wlis ZiriTadi monacemebiT _ 30%-i; miznobrivi – sul mcire 50%-i) iReben.

73. jandacvis momsaxurebis sferoebi: mTavroba jandacvis reformis ganxor-

cielebis Sua etapze imyofeba. man jandacvis momsaxurebis didi nawili gadasca kerZo

seqtors da ukiduresad SeWirvebuli mosaxleobis fenebis dasaxmareblad warmoadgina

samedicino dazRvevis programa. am reformis upirveles mizans mosaxleobis jandacvis

ZiriTadi indikatorebis gaumjobeseba Seadgens. am mxrivac mniSvnelovani nabijebi gad-

aidga, magram jer kidev bevri ramaa gasakeTebeli. banki momavalSic ganagrZobs mTavrobis

daxmarebas jandacvis indikatorebis gasaumjobeseblad, mas jandacvis seqtoris dafin-

ansebis axal, ufro efeqtur saSualebebs SesTavazebs, kerZod: (i) jandacvis sainforma-

cio monacemTa efeqturi bazis Seqmnas, rac mTavrobas daexmareba jandacvis dazRvevis

efeqtianad ganxorcielebaSi; (ii) DPO-s mizania, mniSvnelovnad gaizardos mosaxleobis im

fenebis wili, romlebsac xeli miuwvdebaT subsidirebul samedicino dazRvevaze (2007

wlis monacemebiT - 20%). CPS-is moqmedebis periodSi programis daxmarebis uzrunvel-

sayofad bankma da mTavrobam ukve ganaxorcieles mimdinare pirveladi jandacvis proeq-

tis restruqturizacia. masSi CarTulia damatebiTi RonisZiebebi jandacvis seqtoris

treningebiTa da aRWurvilobiT uzrunvelyofis mizniT. restruqturizebuli proeqti

Sromis, janmrTelobisa da socialuri dacvis saministros daexmareba monacemTa bazis

gaumjobesebasa da mis integrirebaSi samoqalaqo reestris bazasTan. es xels Seuwyobs

subsidirebuli dazRvevisa da miznobrivi Raribi mosaxleobis gaumjobesebul monitor-

ings. ganviTarebis politikiT gaTvaliswinebuli saqmianobebi xels Seuwyobs samedicino

dazRvevis gegmis dafinansebasa da ganxorcielebas Raribi mosaxleobis ufro farTo

fenebis mosacavad. momavalSi, siRaribis donis wliuri Sefasebebis gziT, kvlavac gagr-

Zeldeba jandacvis Sedegebisa da sakiTxebis monitoringi. IFC-i dReisaTvis ikvlevs

jandacvis kerZo momwodeblebis potenciur investiciebs. amavdroulad, jandacvis da-

finansebis gaumjobesebul sistemebs, maTi efeqtianobis uzrunvelsayofad, Tan unda

sdevdes instituciuri SesaZleblobebis ganmtkiceba. banki ganagrZobs analitikur da

teqnkur daxmarebas jandacvis seqtorisaTvis (da damatebiTi fondebis moZiebis SemTx-

vevaSi SesaZloa ganixilos samomavlod gansaxorcielebeli romelime proeqtic). jan-

dacvisa da socialuri daxmarebebi bankis mier dafinansebul satransporto proeqteb-

Sic iqneba gaTvaliswinebuli.

36 37

74. municipaluri momsaxureba: saqarTvelo aRiarebs adgilobrivi infrastruq-

turis mSeneblobis mniSvnelobas, rogorc ara marto mosaxleobis keTildReobis amaR-

lebis nawils, aramed rogorc qveynis saerTo ganviTarebis Semadgenel erT-erT ZiriTad

elements. municipaluri infrastruqturis (wyalmomarageba, gamdinare wylebis marTva,

adgilobrivi gzebi, sabinao mSenebloba) ganviTarebas sruli mxardaWera aqvs efeqturi

Sefasebebis, prioritetulobis, municipaluri ganviTarebis fondis xelSewyobis da Ses-

abamisi proeqtebis dafinansebis gaTvaliswinebiT. adgilobrivi mmarTvelobis organoe-

bisaTvis saWiro resursebis xelmisawvdomobis uzrunvelsayofad saqarTvelom agreTve

ganaxorciela mTavrobaTaSoris dafinansebis reforma. gasul wlebSi municipaluri gan-

viTarebis fondis meSveobiT bankma mniSvnelovani finansuri daxmareba gaswia. miznobriv

regionebSi wyalmomaragebisa da wylis xarisxis gaumjobesebis, adgilobriv gzebze mg-

zavrobisaTvis saWiro drois danaxarjebis Semcirebis monitoringis saSualebiT igi kv-

lavac ganagrZobs am sferoSi miRweul Sedegebze dakvirvebas. 2006 wels bankma gaaforma

momsaxurebis xelSekruleba MCC-sTan, raTa municipaluri ganviTarebis fondis xelSew-

yobiT daxmareboda mas fondebis zedamxedvelobaSi. 2009 finansur wels bankma aseve

warmoadgina axali regionuli da municipaluri infrastruqturis proeqtebi, romelTa

meSveobiTac igi gaswevs agvistos konfliqtis Sedegebis Sesabamis regularul da gad-

audebel daxmarebas. Tbilisis ganviTarebis strategiis SesamuSaveblad banki adminis-

trirebas uwevs qalaqebis aliansis grants. swrafad xdeba saproeqto fondebis aTviseba.

mTavrobas SeuZlia moiTxovos damatebiTi dafinanseba CPS-is moqmedebis periodSi.

75. iZulebiT gadaadgilebuli pirebi (IDP): qveynis SigniT iZulebiT gadaadg-

ilebul pirTa daxmareba umTavres da prioritetul maxasiaTebels Seadgens JNA-s da

ZiriTadi maCveneblebisa Tu mimarTulebebis gansazRvris TvalsazrisiT. es uaRresad

mniSvnelovania ara marto iZulebiT gadaadgilebul pirTa sacxovrebeli pirobebis gaum-

jobesebis TvalsazrisiT, aramed sazogadod qveynis erTianobis ganmtkicebisTvisac. am

mimarTulebiT banki aqtiurad TanamSromlobs gaerTianebul erebTan, raTa xeli miu-

wvdebodes da monitoringi gauwios iZulebiT gadaadgilebul pirTa saWiroebebs. am miz-

niT bankma 10 milioni aSS dolari gamoyo regionuli da municipaluri infrastruqturis

proeqtidan. es Tanxa man pirdapiri daxmarebis saxiT warmarTa iZulebiT gadaadgilebul

pirTa gansaxlebisaTvis. IDP-is socialuri da ekonomikuri integraciis xelSesawyobad

bankma iZulebiT gadaadgilebul pirTa saTemo ganviTarebis grantic daamtkica. banks

evrokavSiric daexmareba, gamoyo ra garkveuli Tanxebi grantisaTvis. banki ganagrZobs

iZulebiT gadaadgilebul pirTa mdgomareobis monitorings. igi aanalizebs im Sede-

gebs, romlebic globaluri ekonomikuri krizisis IDP-ze zemoqmedebam gamoiwvia. banki

ganagrZobs saWiroebaTa erToblivi Sefasebis angariSebis momzadebas. igi sakuTar war-

matebebs imisda mixedviT gansazRvravs, Tu ra konkretuli daxmareba gaswia iZulebiT

gadaadgilebul pirTa sacxovrebeli pirobebiT uzrunvelyofis saqmeSi (grantis proeq-

tis farglebiT gaTvaliswinebuli zogadi integraciis farglebSi).

38 39

strategiuli mizani 2: konkurentulobis amaRleba krizisis Semdgomi ekonomikuri

zrdisaTvis

Sedegebi sferoSi III: satransporto derefnis gaumjobeseba da integrirebis SesaZle-

blobebis gazrda

a. Sedegi 1: ZiriTad satransporto marSrutebze gavlis droisa da xarjebis Semcireba;b. Sedegi 2: sagzao usafrTxoebis gaumjobeseba.

76. gaumjobesebuli satransporto derefani: investiciebis mozidvis, aseve ev-

ropasa da azias Soris saqarTvelos strategiuli adgilmdebareobis mniSvnelobis zrdis

TvalsazrisiT, mTavroba priortetulad miiCnevs satransporto derefnis gaumjobese-

bas. bankis roli ganmsazRvrelia, vinaidan am miznis miRwevaSi igi mTavrobas daexmareba

rogorc sakuTari investiciebiT, ise Tanxebis mozidviT sxva donorebTan koordinebu-

li TanamSromlobis gziT. am mxriv udidesi Sedegi iqneba qveynidan ZiriTad bazrebamde

transportirebis drois Semcireba. banki sakuTar wvlils Seafasebs imdenad, ramdena-

dac Semcirdeba transportirebis dro da xarjebi satransporto derefnis calkeul

segmentebsa da adgilobriv gzebze, rac umniSvnelovanes sasikeTo zegavlenas moaxdens

2009-2010 wlebis samuSaoebsa da regionul ekonomikaze (gansakuTrebiT – soflis meur-

neobaze). marTlac, gaumjobesebuli gzebi uaRresad mniSvnelovania kaxeTis regionSi,

vinaidan, jer erTi, es aris saqarTvelos erT-erTi uRaribesi regioni (siRaribis done

aq 46%-s aRwevs), da meorec, am regions mniSvnelovani sasoflo-sameurneo potenciali

aqvs. garda amisa, am sferoSi gansaxorcielebeli proeqtebiT mTavroba gzebis saime-

doobas gaaumjobesebs. aRniSnulTan dakavSirebiT Catarda ramdenime ZiriTadi donoris

Sexvedra, sadac gzebis erTnairi standartebi damtkicda, rac, Tavis mxriv, monitorings

daqvemdebarebul indikators warmoadgens. banks SemuSavebuli aqvs sagzao qselis gau-

jobesebis mniSvnelovani programa, romelic moicavs saavtomobilo magistralebis gaum-

jobesebis I da II proeqtebs, Sigasaxelmwifoebrivi da adgilobrivi gzebis gaujobesebis

proeqts, aseve iTvaliswinebs teqnikur daxmarebas winasainvesticio infrastruqturu-

li saxsrebis meSveobiT. aRmosavleT-dasavleTis Cqarosnuli avtomagistralis mesame

proeqtis saSualebiT CPS-is moqmedebis periodSi banki gamoyofs axal sesxebs da aseve

ganaxorcielebs kaxeTis regionSi gzebis gaumjobesebis proeqts. bankis monawileobiT

ganxorcieldeba saqarTvelos sagzao qselis reabilitacis multidonoruli programa.

amas garda, banki kvlavac daexmareba sagzao seqtoris instituciuri mSeneblobis pro-

gramas. IFC-i moiZiebs saSualebebs satransporto da lojistikis sferoebSi kerZo in-

vesticiebis mozidvis dasaCqareblad. misi potenciuri zedamxedvelobiT ganxorcield-

eba sakonsultacio momsaxureba, rogorc es saqarTvelos mTavrobas moeTxoveboda. rac

Seexeba rkinigzas, sabanko jgufsa da mTavrobas SeuZliaT moiZion saxsrebi da miiRon

daxmareba IFC-isa da msoflio bankis subnacionaluri dafinansebis programidan.

Sedegebi sferoSi IV: biznesis zrdis daCqareba

a. Sedegi 1: biznesis garemos mdgradi gaumjobeseba; b. Sedegi 2: mcire da saSualo biznessawarmoebisaTvis meti mxardaWera;g. Sedegi 3: gaumjobesebuli sasoflo-sameurneo produqcia, testireba da gayidvebi.

38 39

77. zogadi biznesis garemo: mimzidveli qveyana investorTaTvis da saTanado sain-

vesticio garemo _ ekonomikis aRmavlobis mTavrobiseuli strategiis ori umniSvnelo-

vanesi elementi iyo gasuli xuTi wlis ganmavlobaSi. am mxriv saqarTvelom mniSvnelovan

progress miaRwia. mTavrobis umTavresi samomavlo amocana biznesgaremos gaumjobeseba

da ucxoeli da adgilobrivi investorebis ndobis aRdgenaa, rac ekonomikuri winsvlis

safuZvelia. am amocanebis gadawyvetaSi banki Tavis wvlils konkretuli saqmianobiT

Seitans. aSkaraa, rom gaumjobesebuli satransporto infrastriqtura, sxvadasxva proe-

qtis ganxorcielebis meSveobiT, xels Seuwyobs kompaniebis saqmianobas (ix. Sedegebi me-3

sferoSi). DPO-s farglebSi aseve mniSvnelovani iqneba bankis Zalisxmeva sagadasaxado

da sabaJo sakiTxebis daregulirebaSi. gaumjobesebuli finansuri seqtori am amocane-

bis ganxorcielebis aseve mniSvnelovani nawilia (ix. Sedegebi 1-l sferoSi). garda ami-

sa, prioritetuli mniSvneloba mieniWeba sabanko jgufis daxmarebas mcire da saSualo

sawarmoebisaTvis regionuli ganviTarebis proeqtebSic (ix. qvemoT). yovelive zemoaR-

niSnulis realizeba ki, sabolood, aucileblad moitans dasaxul Sedegebs. banki yvela

aspeqtSi Seasrulebs Tavis rols. warmatebis sxvadasxvagvar indikatorebs igi imis mi-

xedviT gansazRvravs, Tu rogor ganviTardeba biznesis sxvadasxva seqtori (saqmianoba,

biznesgaremosa da warmoebis kvleva, Zlieri da susti mxareebis gamovlenis submaxasia-

Teblebi) da ramdenad amaRldeba investorTa ndoba biznesgaremos mimarT. sawarmoTa

uSualo sainvesticio daxmarebas IFC-i ganagrZobs, romelic daasrulebs salicenzio,

sanebarTvo da sainspeqcio gaumjobesebis sakonsultacio proeqtebs. IFC-i ikvlevs sa-

momavlo sakonsultacio saqmianobaTa potenciur SesaZleblobebs. amavdroulad, banki

ganagrZobs vaWrobis da konkurenciis grantis administrirebas, raTa saqarTvelos da-

exmaros xarisxis standartebis amaRlebaSi, sasursaTo da masTan dakavSirebuli produ-

qciis eqsportSi, rac xelSemwyob faqtors warmoadgens qveynis dabali satarifo reJimis

dawesebisaTvis aSS-is, evrokavSirisa da sxva qveynebis bazrebze. gaumjobesebisken mimar-

Tuli es saqmianobebi CPS-is periodis amowurvamde gagrZeldeba, ris Semdegac Sefasde-

ba kerZo seqtorSi mimdinare procesebi da saaudito praqtika.

78. mcire da saSualo sawarmoebi. saqarTvelos ekonomikis gardamaval etapze mni-

Svnelovani roli mcire da saSualo sawarmoebs eniWebaT. maTi produqcia mxolod 8%-s

Seadgens, magram sawarmoebSi dasaqmebulTa raodenoba daaxloebiT 20%-ia. aseve, mniSvne-

lovania, rom mcire da saSualo sawarmoebs siaxleTa danergvisa da zrdis mamoZravebeli

Zalis funqciis Sesrulebis potenciali aqvT. Tumca maT didi dartyma ganicades ekono-

mikuri daRmavlobis gamo da maTTvis dafinansebis wyaroebi naklebad xelmisawvdomi ga-

xda. IFC-i mxars uWers sabanko seqtors, raTa dafinanseba xelmisawvdomi gaxdes mcire da

saSualo sawarmoebisTvis da is Semdgomac SenarCundes, rac maT xels Seuwyobs krizisis

ukeT daZlevaSi da samuSao adgilebis SenarCunebaSi. meore mxriv, IFC-is pirdapiri inve-

sticia ekonomikis realur seqtorSi aseve ganapirobebs samuSao adgilebis SenarCunebas

did kompaniebSi. regionuli iniciativis farglebSi IFC-i mcire da saSaulo sawarmoebi-

saTvis sakonsultacio momsaxurebasac eweva krizisis menejmentis TvalsazrisiT. sava-

raudod, es iniciativa saqarTvelosac Seexeba da mcire da saSualo sawarmoebs daexmare-

ba, gaumklavdnen krizisTan dakavSirebul umTavres problemebs, rogorebicaa: valutis

gaufasureba, fuladi saxsrebis mimoqcevasTan dakavSirebuli sirTuleebi, saeqsplua-

tacio xarjebis Semcirebis aucilebloba da dafinansebasTan dakavSirebuli gazrdili

xarjebi. IFC-i aseve Seecdeba, mxari dauWiros mikrodafinansebis zrdas, raTa mtkiced

dainergos TviTdasaqmeba, xeli Seewyos arsebuli mikrosawarmoebis mdgradobasa da

40 41

ganviTarebas. finansur seqtorSi ganxorcielebuli investiciebis gziT IFC-i daexmareba

mikrodafinansebas; adgilobrivi valutis, mSeneblobis, energoefeqtianobis, vaWrobis

dafinansebas, aseve Seecdeba moicvas mniSvnelovani seqtorebis mTeli speqtri, maT Soris:

ganaxlebadi energia, agrobiznesi da turizmi. IFC-i Tavis mosalodnel warmatebas imis mi-

xedviT afasebs, Tu dafinansebis ra raodenobaa gaweuli mcire da saSualo sawarmoebisaT-

vis pirdapiri da finansuri seqtoris saSualebiT (2013 wlisaTvis IFC-i Tavisi finansuri

seqtoris klientebis meSveobiT mcire da saSualo sawarmoebisaTvis gegmavs, sul cota,

750 milioniani portfelis gamoyofas. es ki mogvcems saSualebas, 2008-2010 wlebSi sru-

lad aRdges mosalodneli Semcireba da igi 2007 wlis maCvenebels gautoldes).

79. soflis meurneoba. soflis meurneobas umniSvnelovanesi roli aqvs rogorc

saqarTvelos momavali ganviTarebisaTvis, ise samuSao adgilebis Seqmnisa da siRaribis

Semcirebis mxriv. mTavrobis midgoma soflis meurneobis seqtoris mimarT gulisxmobs

soflis meurneobis infrastruqturis gaZlierebas, aseve, soflis meurneobis dafinan-

sebisa da eqsportis mxardaWeras. am miznebis ganxorcielebaSi daxmarebisaTvis banki um-

Tavresad transportirebisaTvis saWiro drois Semcirebaze gaamaxvilebs yuradRebas,

gansakuTrebiT, soflis meurneobis TvalsazrisiT mniSvnelovan kaxeTis regionSi, rasac

igi Tavisi satransporto proeqtebis meSveobiT ganaxorcielebs. amiT Semcirdeba tra-

snportirebis xarjebi, romlebic dakavSirebulia fermerebis mier adgilobriv da sae-

qsporto bazrebze produqtebis gadatanasTan. warsulSi banki aseve daexmara irigaciis

infrastruqturis ganviTarebas. marTalia, CPS-is farglebSi jer kidev ar aris miRebu-

li gadawyvetileba axal sairigacio infrastruqturul proeqtTan dakavSirebiT, magram

dialogi kvlavac gagrZeldeba am sferoSi efeqturi menejmentis miRwevis Taobaze. rac

Seexeba mTavrobis meore mizans, romelic mimarTulia soflis meurneobis dafinansebi-

sa da misi produqciis eqsportisaken, banki aqtiurad imuSavebs fermerebTan, raTa ga-

aZlieros konkretuli produqciis miwodebis arxebi, gazardos sasoflo-sameurneo da-

niSnulebis dakrediteba da gaaZlieros am sferos, maT Soris, sakvebis usafrTxoebisa da

sertificirebis institutebi. amis gaxorcielebas banki mimdinare soflis meurneobis

ganviTarebis proeqtis meSveobiT apirebs. aseve, ganviTarebis samoqmedo politikis far-

glebSi, didad Seewyoba xeli sakvebis usafrTxoebaze kontrolisa da fitosanitaruli

kanonmdeblobis gamoyenebas. garda amisa, banki apirebs, teqnikuri mxardaWera aRmouCi-

nos mTavrobas sakvebis sertificirebis ufro farTod danergvis mimarTulebiT, rac

vaWrobis gazrdisTvis aris aucilebeli. amavdroulad, investorebs xelsayreli garemo

unda SeunarCundeT, SezRudvebi ki ar unda gascdes dasaSveb farglebs. IFC-i, safinan-

so Suamavlebis meSveobiT, ganagrZobs agrobiznesisaTvis investiciebis moZiebas. aseve,

SesaZlebelia, waxalisdes saerTaSoriso principebis danergva kvebis usafTxoebis sfe-

roSi. analitikuri TvalsazrisiT, IFC-m axlaxan daasrula kvleva calkeuli sasoflo-

sameurneo produqtebis konkurentulobis Sesaxeb. bankis mier 2009 wlisaTvis momzade-

bul CEM-Si Seva moxseneba saqarTvelos soflis meurneobis ganviTarebaze. banki aseve

Caatarebs Semdgomi etapis analitikur kvlevas sasoflo-sameurneo sainvesticio klima-

tisa da miwodebis arxebis Sesaxeb. ramdenadac saqarTvelos Seexo rogorc Roris, aseve

frinvelis gripebi, banki iTanamSromlebs mTavrobasTan, raTa is momzadebuli Sexvdes,

gaakontrolos da uvnebelyos frinvelis, Roris gripi da cxovelis/adamianis sxva infe-

qciuri daavadeba. banki amas frinvelis gripis mimdinare proeqtis farglebSi ganaxor-

cielebs.

40 41

80. energetika: saqarTvelom bankis daxmarebiT did warmatebebs miaRwia energo-

seqtoris privatizebis mimarTulebiT da uzrunvelyo energiis stabiluri miwodeba

mosaxleobisa da biznesmenebisaTvis. amave dros, qveyana TandaTan yalibdeba mezoblebi-

saTvis energiis eqsportiorad. Semdegi etapi iqneba investirebis xelSewyoba gazrdili

energomomaragebisa da mezobeli bazrebis mimarTulebiT gadamcemi xazebis uzrunvel-

sayofad. am mizniT, mimdinare infrastruqturis winasainvesticio proeqtis farglebSi,

banki xudonis momavali eleqtrosadguris danaxarjebisa da sargeblis gansazRvrisaT-

vis atarebs teqnikur-ekonomikur kvlevas. aseve, eleqtroenergiis bazris mxardaWeris

mimdinare proeqtis farglebSi, banki uzrunvelyofs daxmarebas adgilobrivi eleqtro-

gadamcemi sistemis gasaumjobeseblad. bankma da IFC-m samomavlod SeiZleba monaxon er-

Toblivi TanamSromlobis gzebi hidroenergiis sferoSi kerZo investorebis mosazidad

rogorc pirdapir, ise finansuri Suamavlebis meSveobiT. am mizniT isini koordinirebu-

lad imoqmedeben EBRD-sa da EIB-sTan. energiisa da sxva infrastruqturul proeqtebSi

kerZo investirebis potencialis maqsimalurad gasazardelad mTavrobam gamoTqva ban-

kis produqtiT _ nawilobrivi riskis garantia _ sargeblobis survili. KFW-i, EBRD-i da EIB-i paralelurad ganixilaven SesaZleblobas, mxari dauWiron maRali Zabvis ele-

qtrogadamcemi xazis mSeneblobas TurqeTis mimarTulebiT. banki cdilobs gazardos da

gaaZlieros maregulireblis roli energiis momxmarebelTa dacvis saqmeSi, uzrunvel-

yos momsaxurebis xarisxi da moagvaros regionuli bazris sakiTxebi. amis misaRwevad igi

gaafarToebs analitikur mxardaWeras. miuxedavad bankis jgufis efeqtiani saqmianobis

didi potencialisa, banks jer ar ganusazRvravs Sedegebis indikatorebi am seqtorSi, vi-

naidan am mxriv kvlavac sxvadasxva varianti rCeba gansaxilveli.

81. garemos dacva. bankis garemos dacvasTan dakavSirebuli saqmianoba nawilobriv

imis gamo Senelda, rom mas surs, Tavisi resursebi sxva sferoebisken mimarTos, radgan

aRiarebs rom am sferoSi sxva donorebsac aqvT mniSvnelovani investiciebi. banki kvlav

CarTulia sxvadasxva qveynisaTvis gamoyofili grantis FLEG (tyis seqtorSi kanonis ga-

moyenebisa da marTvis procesi) marTvaSi, romelic garemos dacvasTan dakavSirebiT ar-

sebuli kanonmdeblobis gaumjobesebas iTvaliswinebs. garda amisa, IFC-i mxars dauWers

energiis ufro efeqtianad gamoyenebas. igi ikvlevs energoefeqtianobis ukve gamoyene-

bul meTodebs regionis xuT sxvadasxva qveyanaSi, maT Soris, saqarTveloSi. ufro meti

mxardaWerisaTvis am mimarTulebiT banki gegmavs axal proeqts safinanso institutebisa

da mcire da saSualo sawarmoebisaTvis. energiisa da infrastruqturis seqtorebSi ga-

weul Tavis saqmianobas banki garemosdacviTi Sefasebebisa da mosazrebebis saTanadod

gasaTvaliswineblad warmarTavs. mimdinare regionuli da municipaluri ganviTarebis

proeqtis farglebSi banki aseve uzrunvelyofs wylis miwodebis gaumjobesebas. amJamad,

evrokavSiri aris saqarTvelos erT-erTi umniSvnelovanesi partniori garemos dacvis

sferoSi. misi daxmarebis mcdeloba mniSvnelovanwilad myari narCenebis menejmentiske-

naa mimarTuli. UNDP-i saqarTvelosaTvis ganagrZobs globaluri ekologiuri fondis

mier gamoyofili zomieri resursebis administrirebas. yvelaze aqtiur ormxriv dono-

rebs Soris arian germania da holandia. WWF-i da bunebis dacvis saerTaSoriso kavSiri

(IUCN) is saerTaSoriso arasamTavrobo organizaciebia, romlebic konsultaciebiT da

sxva saxis daxmarebiT ganagrZoben TavianT saqmianobas saqarTveloSi biomravalferov-

nebis SesanarCuneblad, daculi teritoriebis gansaviTareblad da tyeebis samarTavad.

42 43

IV. strategiis ganxorcieleba

a. msoflio bankis jgufis instrumentebi

82. CPS-iT gaTvaliswinebulia msoflio bankis instrumentebis fokusirebuli

gamoyeneba. bankis Zalisxmeva orientirebulia politikis operaciebis ganviTarebisken,

romlebic 11 mimdinare sainvesticio proeqts moicavs. maTi dafinanseba aTvisebul iqneba

CPS-is ganxorcielebis periodSi axali infrastruqturuli proeqtebis (umTavresad _

satransporto proeqtebis) meSveobiT. umniSvnelovanes rols Seasrulebs swavlebaze

orientirebuli momsaxureba. es yovelive daexmareba mTavrobas, gaakeTos swori

politikuri arCevani qveyanasTan TanamSromlobis strategiis CPS-is farglebSi da

ganaxorcielos mizanSewonili qmedebebi. amiT amaRldeba konkurentuloba da gadaiWreba

socialurad daucvel pirTa problemebi. sesxis gacemis, kapitaldabandebebisa da riskis

marTvis produqtebis gamoyenebiT IFC-i umniSvnelovanes daxmarebas gauwevs safinanso

da uZravi qonebis seqtorebs. msoflio bankisa da IFC-is satrasto fondebi gamoyenebul

iqneba Semdgomi analitikuri mxardaWerisaTvis. strategiis efeqtian ganxorcielebas

xels Seuwyobs msoflio bankisa da IFC-is saqmianobaTa saTanado koordinacia.

mravalmxrivi sainvesticio garantiebis saagento aseve mzadaa, saqarTveloSi sxva pro-

eqtebic daafinansos. IFC-sTan koordinirebiT igi aqtiur dialogs awarmoebs saqa-

rTvelos finansTa saministrosTan ufro energiuli TanamSromlobisaTvis pirdapiri

ucxouri investiciebis mosazidad.

83. DPO-s sami yovelwliuri seria. programis CarCoebSi uzrunvelyofs

gadaudebel sabiujeto daxmarebas mTavrobisaTvis da, imavdroulad, mxars dauWers

reformebis ganxorcielebas SerCeuli mimarTulebebiT, rogorebicaa: saxelmwifo

finansebis gaumjobeseba, socialuri usafrTxoebis qselebis gaZliereba da qveynis gareT

konkurentulobis miRweva. DPO mraval sxvadasxva seqtors moicavs, romelTa meSveobiT

xeli Seewyoba sxva partniorebis mier biujetis daxmarebas (pirdapir an iribad). amgvar

partniorebad moiazrebian niderlandebi, ADB-i da EC-i. CPS-is dasrulebis angariSSi

gamokveTilia programuli midgomis upiratesobebi ara mxolod biujetis mxardamWeri

saqmianobis SemTxvevaSi, aramed analitikuri TvalsazrisiTac: rameTu aseTi midgoma

aucilebeli rekomendaciebis droulad miwodebis saSualebas iZleva. es praqtika

programis mimdinareobis dros gagrZeldeba.

84. Zlieri sinergia programul daxmarebas, sainvesticio sesxebsa da

analitikur mxardaWeras (rogorc msoflio bankis, ise IFC-is mxridan) Soris DPO-s

farglebSi kvlav rCeba msoflio bankis saqmianobis umTavres maxasiaTeblad. am

sinergiis arsi saTanadod aris asaxuli CPS-is dasrulebis angariSSi. mniSvnelovani

iqneba msoflio bankis yvela instrumentis gamoyeneba reformebisa da instituciuri

cvlilebebis gatarebisa da bankis resursebis efeqtianad aTvisebisTvis (rogorc es

qveyanasTan partniorobis wina strategiis farglebSi gakeTda). bankis sainvesticio

saqmianobis konkretul sferoebze fokusirebisas mniSvnelovani iqneba donorebis

mxardaWeriT ganxorcielebuli qmedebebis Semavsebeli rolis uzrunvelyofa.

magaliTad, saxelmwifo xarjebTan dakavSirebiT DPO-s operaciebis mier mxardaWeril

saqmianobaSi CaerTveba sajaro seqtoris finansuri marTvis mxardaWeris proeqti,

romelic, Tavis mxriv, koordinirebas gauwevs sxvadasxva donoris mier mowodebul

teqnikur daxmarebas da programis farglebSi yovelwliurad Seiswavlis saxelmwifo

xarjebs. jandacvis sferosaTvis gaweuli teqnikuri daxmareba gaaZlierebs ganviTarebis

42 43

politikis DPO-s operaciebiT mxardaWeril qmedebas, romelic miznad isaxavs

samedicino dazRvevis mier ufro meti Raribi adamianis mocvas. teqnikuri daxmareba

mas restruqturizebuli jandacvis proeqtis farglebSi miewodeba, rac sainformacio

sistemebis Seqmnasa da analitikur mxardaWeras isaxavs miznad. DPO-s operaciebi,

romlebic sasoflo-sameurneo produqciis eqsportis sferoSi sursaTis standartebis

asamaRleblad aris Catarebuli, mTavrobas saeqsporto bazrebis mopovebaSi exmareba.

Tavis mxriv, soflis meurneobis ganviTarebis proeqti praqtikuli mxardaWeriT

ufro metad gaaZlierebs am mimarTulebas, riTac aRadgens sursaTis usafrTxoebis

laboratoriebsa da veterinarul punqtebs. aRniSnuli mimarTulebis gaZliereba aseve

SesaZlebelia sursaTis usafrTxoebisTvis momuSave personalis momzadebiTa da maTTvis

kvalifikaciis amaRlebiT. garda amisa, msoflio banki mWidrod iTanamSromlebs IFC-sTan,

romelic CarTulia produqtebis konkurentulobis Sefasebis processa da sasursaTo

usafrTxoebis programis SemuSavebaSi. msoflio banki iTanamSromlebs SvedeTTanac,

romelic analitikur samuSaosa da testirebas axorcielebs sasursaTo usafrTxoebasTan

dakavSirebiT. biznesis garemos gaumjobesebis sferoSi DPO gaaaqtiurebs IFC-is mier

gamocdilebisa da rCevebis miwodebas.

85. mimdinare 11 proeqti msoflio banks saSualebas miscems, kvlav CarTuli iyos

gansakuTrebuli mniSvnelobis mqone sferoebSi. es sferoebia: jandacva, ganaTleba,

soflis meurneoba, transporti, saxelmwifo finansebis marTva da energoseqtori. am

proeqtebis mier daaxloebiT 135 milioni aSS dolari darCa asaTvisebeli. mosalodenelia,

rom am Tanxis umetesi nawilis aTviseba CPS-is pirveli ori wlis ganmavlobaSi moxdeba

(anu me-11 finansuri wlis dasasrulisTvis). CPS-is mixedviT, msoflio bankma am sferoebis

analitikuri mxardaWera proeqtebis dasrulebis Semdegac unda ganagrZos (Tu amis

saWiroeba iqneba). garda amisa, CPS-i mosaxerxebelia im TvalsazrisiT, rom igi Semdgomi

sainvesticio sesxebis gacemis saSualebas damatebiTi dafinansebis xelmisawvdomobis

SemTxvevaSic iZleva.

cxrili 4: saqarTvelo – IBRD-isa da IDA-s mimdinare proeqtebi

jandacvis reformis proeqti

(restruqturizebuli)

frinvelis gripis proeqti

regionuli da municipaluri

ganviTarebis proeqti

soflis meurneobis ganviTarebis proeqti

aRmosavleT-dasavleTis Cqarosnuli

magistralis gaumjobesebis I da II proeqti

Sigasaxelmwifoebrivi da adgilobrivi gzebi

winasainvesticio krediti

infrastruqturebSi

ganaTlebis sistemis gardaqmnisa da

ganmtkicebis II proeqti

saxelmwifo finansebis marTvis proeqti

eleqtroenergiis bazris ganviTarebis

proeqti

sul mimdinare

auTvisebeli odenoba (milioni dolari)

9.2

5.4

27.2

4.1

19.4

52.3

1.1

8.1

3.0

5.6

135.4

44 45

86. msoflio bankis axali sainvesticio saqmianoba transportirebaze

iqneba orientirebuli. zemoT CamoTvlili mizezebis gamo mTavrobam msoflio

banks mkafiod dausaxa am seqtoris ganviTarebis prioritetuloba. msoflio banki,

romelic transportis sferoSi wamyvani donoria, ganagrZobs donorTa regularuli

Sexvedrebis organizebas, rac uzrunvelyofs satransporto derefnis yvela proeqtis

urTierTSerwymas. mimdinare da potenciuri axali proeqtebiT msoflio banki kvlavac

CaerTveba mraval sxva seqtorSic (garda gzebis mSeneblobisa) da CPS-is finansur paketSi

SesaZlo cvlilebebis Sesabamisad, SesaZloa, damatebiTi mxardaWerac gauwios maT. yvela

intervencia mWidrod iqneba koordinirebuli IFC-sa da sxva partniorebTan, raTa daxmareba

Tanamimdevruli da efeqtiani aRmoCndes. msoflio banki da IFC-i iTanamSromleben sxva

ZiriTad donorebTanac (EBRD-i), rac ganapirobebs finansuri seqtoris mdgradobas.

infrastruqtura is ZiriTadi sferoa, romelSic msoflio banks da IFC-s udides roli

ekisrebaT EBRD-Tan, USAID-Tan, MCC-Tan, JICA-Tan da sxva saerTaSoriso safinanso

institutebTan TanamSromlobaSi. transportis seqtorisadmi aseTi didi yuradReba

saukeTeso Sedegs gamoiRebs donorTa koordinaciis TvalsazrisiT, riTac Tavidan

iqneba acilebuli samuSaoTa urTierTgadafarva (rogorc es JNA-Sia mocemuli).

87. msoflio bankis jgufis saqmianobis umetesi nawili or strategiul

mimarTulebas moemsaxureba. msoflio bankis strategia ori mimarTulebis midgomas

iTvaliswinebs: erTi mxriv, miznad isaxavs socialurad daucvel pirTa problemebis

gadaudebel mogvarebas da, meore mxriv, uzrunvelyofs grZelvadian konkurentulobas.

bankis konkretul intervenciaTa umetesoba orive am funqcias asrulebs (ixileT

naxazi 5). transportis sferoSi gansaxorcielebeli proeqtebiT umokles droSi

Seiqmneba samuSao adgilebi da gaumjobesdeba rogorc saerTo konkurentuloba, ise

produqtiuloba. DPO-s qmedebebi daexmareba mTavrobas, gaafarToos usafrTxoebis

qselebi da gaaumjobesos Raribi mosaxleobis samedicino dazRveva. amasTan, vaWrobisa

da biznesis sferoSi mTavrobasTan erTad ganxorcielebuli es saqmianoba konkurentuli

garemos Seqmnisken iqneba mimarTuli. municipaluri ganviTarebis proeqti uzrunvelyofs

iZulebiT gadaadgilebul pirTa daxmarebas da binebiT uzrunvelyofas. imavdroulad,

igi municipaluri infrastruqturis ganviTarebis ufro grZelvadian RonisZiebasac

gaiTvaliswinebs. IFC-is investiciebi da sakonsultacio momsaxureba daexmareba

klientebs krizisis gadatanasa da grZelvadian periodSi meti konkurentulobis

miRwevaSi. qvemoT motanili me-5 naxazi am urTierTgadamfarav situacias aRbeWdavs. orive

sferos amgvarad dabalanseba saqarTvelos xelisuflebasTan mWidro TanamSromlobiT

moxerxda, rac, Tavis mxriv, mTavrobis strategiul mimarTulebebsac asaxavs.

88. SemoTavazebuli axali sesxebi Tavidanve maqsimalurad iqneba gacemuli.

moklevadiani dafinansebis miRebis saWiroebis gamo mTavrobam moiTxova, Tavidanve gacemuliyo IDA-sa da IBRD-dan momavali finansuri saxsrebis maqsimaluri odenoba.

saxsrebis koncentrirebuli gadaxda saqarTvelos SemTxvevaSi sawyis periodSi

SesaZlebelia, vinaidan mTavrobis gaZlierebulma da warmatebulma muSaobam warmoSva

rwmena, rom igi sasikeTo Sedegebs moitanda rogorc politikisa da instituciuri

reformebis, ise sagzao proeqtebis sferoSi. saxsrebis winaswari koncentrirebuli

gadacema amis saWiroebis aRiarebasac warmoadgens da imavdroulad efuZneba mTavrobis

dapirebas, rom igi ufro meti ZalisxmeviT moekideba rogorc anticiklur politikas, ise

2009-2010 wlebis ekonomikuri da socialuri Sedegebis dacvas. 2009 finansur wels IFC-m

44 45

9. IDA-15-is resursebis paketi indikatoruli xasiaTisaa. faqtobrivad gamoyofili saxsrebis odenoba yovelwliurad gamoiTvleba IDA-s formuliT (romelic muSaobis efeqtianobas efuZneba) mTlianad IDA-sagan xelmisawvdomi Tanxebisa da gacvlis kursis safuZvelze. saerTaSoriso safinanso korpo-raciis mier gasesxebuli saxsrebis odenobac damokidebulia kerZo seqtoris Sesabamisi proeqtebis gansazRvrasa da molaparakebaTa Sedegebze.

krizisis sapasuxod uaRresad didi programa SeimuSava (224 milioni dolari), magram,

vinaidan am Tanxis mniSnvnelovani nawili CPS-is proeqtis farglebSi wlebis mixedviT

miewodeba, SesaZloa misi odenoba 2009 finansur wels gacemulze naklebi iyos.

89. sesxis moculobebi: msoflio bankis jgufis dafinansebis moculoba 2010-

2013 fiskaluri wlebis ganmavlobaSi dReisaTvis 740-900 milion dolarad aris

Sefasebuli. IDA-sa da IBRD-is axali sesxebis absoluturi moculoba amJamad minimum

396 milion dolars udris, romelSic Sedis rogorc ukanaskneli ori wlis ganmavlobaSi

IDA-15-is gamoyenebisaTvis gankuTvnili 130 milioni dolari9, ise IBRD-is 266 milioni

dolaris odenobis indikatoruli dafinanseba (ixileT cxrilebi 5-6). mosalodnelia,

rom IFC-is dafinansebam am periodSi 210-360 milioni dolari Seadginos, rac nawilobriv

imazec aris damokidebuli, Tu rogor ganviTardeba krizisi. garda amisa, amJamad xor-

cieldeba IDA-sa da IBRD-is 11 proeqti, romelTa farglebSic jer kidev daaxloebiT 135

milioni dolaria asaTvisebeli.

naxazi 5: rogor Seesabameba msoflio bankis sxvadasxva RonisZiebebi ori ZiriTadi

mimarTulebis strategias

-- programuli siRatakis Sefaseba;-- mSvidobis Senebis granti iZulebiT gadaadgilebul pirTaTvis;-- frinvelis gripis proeqti.

gadaudebeli problema konkurentuloba

-- ganviTarebis politikis operaciebi-- saxelmwifo resursebis finansuri marTvis proeqti;-- gzebis proeqtebi;-- municipaluri ganviTarebis proeqti;-- jandacvisa da ganaTlebis mimdinare proeqtebi;-- saerTaSoriso safinanso korporaciis finansuri da uZravi qonebis seqtoris operaciebi;-- soflis ganviTarebis proeqti;-- qveynis ekonomikuri memorandumi zrdis Sesaxeb;-- rCevebi finansur seqtors.

-- eleqtroenergiis bazris ganviTarebis proeqti;-- IFC-is rCevebi kerZo sajaro partniorobis Sesaxeb energo da transportis seqtorebSi;-- teqnikuri daxmarebis gaweva monitoringsa da SefasebaSi;-- fiducialuri niSnulebi;-- teqnikuri daxmareba vaWrobisa da konkurentulobis sferoebSi.

cxrili 5: msoflio bankis jgufis dafinanseba qveyanasTan partniorobis

strategiisaTvis 2009 wlis ivlisidan 2013 wlis ivnisamde

(milioni dolari)

mimdinare

auTvisebeli

IDA/IBRD

Sefasebuli axali Sefasebuli

IFC

Sefasebuli

sulIDA IBRD

135 130 266 210 - 360 740 – 900

46 47

90. sasesxo paketisa da winaswarkoncentrirebuli gadaxdis sakiTxebi SemuSavebulia mxolod 2010 fiskaluri wlisaTvis, amdenad, saSualovadian periodSi saWiro iqneba misi Semdgomi damuSaveba. saqarTveloSi daiwyo IDA-dan gasvlisa da IBRD-ze gadasvlis procesi, magram es procesi arastabiluri ekonomikuri periodis ganmavlobaSi mimdinareobda. sakuTriv resursebis paketi konservatiulad Sefasda, ise, rom winaswar ar ganxilula arc IDA-16-is farglebSi IDA-s saxsrebze Semdgomi xelmisawvdomoba da arc IBRD-is xelmisawvdomi odenobis cvlilebis SesaZlebloba. amJamindeli viTarebis Sefasebis gaTvaliswinebiT, msoflio banki ver SeZlebs qveyanasTan partniorobis strategiis bolo wlebisaTvis mniSvnelovani (an Tundac umniSvnelo) axali dafinansebis gamoyofas verc IDA-s da verc IBRD-is saxsrebidan. daxmarebis doneebi IDA-sa da IBRD-is mxridan Sualeduri ganxilvisas gadaisinjeba. es moculoba SeiZleba Seicvalos da masSi aisaxos im droisTvis arsebuli viTareba, rac programis uwyvetobas uzrunvelyofs. daxmarebis paketis realuri raodenoba damokidebuli iqneba gamoyo-fili saxsrebis CarCoSi IDA-15-is farglebSi ganxorcielebuli samuSaos efeqtianoba-ze, IDA-16-isa da IBRD-is saxsrebis SesaZlo xelmisawvdomobaze, aseve, IFC-is mier kerZo seqtoris Sesabamisi proeqtebis gamokveTasa da amasTan dakavSirebul molaparakebebze.

91. jerjerobiT ar gamoyofila 56 milioni dolari da arc erTi saxis damatebiTi dafinanseba, romelic, SesaZloa saSualovadian periodSi gaxdes xelmisawvdomi da gamoiyos im droisaTvis gamokveTili prioritetebis mixedviT. msoflio banki moqnilad imoqmedebs 2011-2013 fiskaluri wlebis ganmavlobaSic. momavalSi daxmarebis gaweva SesaZlebelia or prioritetul sferoSi: daxmareba biujetisaTvis da gzebi, rac CSP-sTvis Zalze mniSvnelovania. garda amisa, Semdgomi dafinanseba im sferoebisTvis gamoiyofa, romlebSic mimdinare proeqtebi ufro da ufro ferxdeba. axali sesxebis gamoyofa msoflio banks saSualebas miscems, kvlavac aqtiurad CaerTos imgvar sferoebSi, rogorebicaa: municipaluri ganviTareba, socialuri seqtori, jandacva,

ganaTleba, soflis meurneoba an energoseqtori.

cxrili 6: saqarTvelo – dagegmili axali sesxebi (milioni dolari)

*2011-2013 fiskalur wlebSi gacemuli sesxis moculoba damokidebuli iqneba IDA-15-is Sesrulebaze

ganawilebis formulis mixedviT; IDA-16-is xelmisawvdomobisaTvis saWiro pirobebis dakmayofile-

baze, IBRD-is saoperacio rezervebis xelmisawvdomobasa da IFC-is mier kerZo seqtoris Sesabamisi

proeqtebis gamokveTasa da masTan dakavSirebul molaparakebaze.

IBRD-isa da IDA-s SemoTavazebuli

axali proeqtebi

DPO-s programebi

transporti (aRmosavleT-dasavleTis

magistralebi da kaxeTis gzebi)

sxva jer gamouyofeli

sul axali IBRD-i da IDA

IFC-is investiciebi

fw 11-13 *

45

56

101

150-260

fw10

85

210

295

60-100

46 47

92. msoflio bankis jgufis strategiaSi centraluri roli ekisreba swavlebaze

orientirebul momsaxurebas. miuxedavad imisa, rom sesxis gacema aucilebelia

sainvesticio moTxovnilebebis dasakmayofileblad, socialurad daucvel pirTa

problemis gadaWris da konkurentulobis amaRlebis swori politikis SesarCevad da

saTanado RonisZiebebis dasagegmad aranakleb mniSvnelovania swavlebaze orientirebuli

momsaxurebis miwodebac. es momsaxureba ufro metad gaZlierdeba 20 bankisa da IFC-is

satrasto fondebis gamoyenebiT. es satrasto fondebi msoflio bankis saqmianobiT

kargad aris integrirebuli: isini an uSualod arian mibmulni msoflio bankis proeqtebze

(magaliTad, soflis ganviTarebis, ganaTlebisa da frinvelis gripis proeqtebi), an

dakavSirebulni arian im proeqtebTan, romlebic CPS-is miznebs emsaxureba (magaliTad,

mSvidobis mSeneblobis granti iZulebiT gadaadgilebul pirTa integraciisaTvis,

qalaqebis aliansis granti, sasoflo-sameurneo produqciis testirebisa da

standartebis SeqmnisaTvis gamoyofili granti). msoflio banki, garda amisa, Seecdeba

swavlebaze orientirebuli momsaxureba gamoiyenos qveyanaSi gavrcelebuli praqtikis

(magaliTad, ra gavlena iqonia globalurma ekonomikurma krizisma vaWrobis xelSewyobis

sferoze) Sesaswavlad.

93. swavlebaze orientirebuli mxardaWera gansakuTrebiT mniSvnelovani iqne-

ba konfliqtis Semdgomi da socialurad daucvel pirTa problemebis mogvarebaSi.

donorTa dafinansebis saTanadod gamoyenebisa da koordinirebisaTvis umniSvnelovane-

sia konfliqtis Semdgomi viTarebis monitoringis warmoeba da angariSgeba. 2009 wlis

ivlisSi msoflio bankma da gaerTianebuli erebis organizaciam gamosces da sajarod

gamoaqveynes JNA-s pirveli angariSi. amJamindeli ekonomikuri daRmasvlis pirobebSi

socialurad daucvel pirTa problemis gadasaWrelad umTavresi iqneba RaribTaTvis

adekvaturi daxmarebis gaweva. am sferoSi daxmarebis gawevis mizniT da analitikuri

bazis gasaZliereblad msoflio banki yovelwliuri programuli mxardaWeriT Seavsebs

siRaribis Sefasebis am bolo periodSi momzadebul angariSs (romelic 2009 wlis april-

Si dasrulda). garda amisa, Cven teqnikur daxmarebas gavuwevT jandacvisa da ganaTlebis

sferoebs maTSi ganxorcielebuli investiciebisa da ganviTarebis politikis operacie-

bis gasazrdelad. saxelmwifo xarjebis programis farglebSi ganxorcielebuli samuSao

mTavrobas daexmareba marTebulad gaakeTos mniSvnelovani fiskaluri arCevani fiska-

lur SesworebebSi axladwarmoqmnili saWiroebebis gaTvaliswinebiT. kidev erT sust

sferos finansuri seqtori warmoadgens, sadac msoflio banki da IFC-i erTad imuSaveben

da saqarTvelos bankebis SigniT riskebis marTvis gaumjobesebasa da zedamxedvelobaSi

daexmarebian (IMF-Tan erTad). garda amisa, msoflio banki mWidrod iTanamSromlebs mTav-

robasa da sxva donorebTan iZulebiT gadaadgilebul pirTa ekonomikuri integrirebis

mxardaWeris mizniT.

94. aseve uaRresad mniSvnelovani iqneba analitikuri samuSao da rekomenda-

ciebis miwodeba saSualovadiani zrdisa da konkurentulobis amaRlebis strate-

giis mxardasaWerad. samomavlo muSaobas mniSvnelovan safuZvels Seuqmnis, erTi mxriv,

memorandumi qveynis ekonomikuri zrdis Sesaxeb (romlis momzadebac me-10 fiskaluri

wlis pirvel naxevarSia mosalodneli) da, meore mxriv, saqarTvelos sawarmoo seqtoris

konkurentulobis dasrulebuli Sefaseba, romelic msoflio bankma IFC-is mxardaWeriT

cota xnis win ganaxorciela. msoflio banki ganagrZobs daxmarebas satransporto da en-

ergoseqtoris regulirebis sferoebisaTvis. amasTan, msoflio banki da IFC-i mxars dau-

48 49

Weren ganviTarebis politikis farglebSi mimdinare samuSaos vaWrobis xelSesawyobad,

riTac isini mTavrobas sasoflo-sameurneo produqtebis sertificirebis strategiis

SemuSavebaSi daexmarebian. garda amisa, msoflio banki mTavrobasTan erTad imuSavebs

fiducialuri procesebis Sefasebisa da Sedarebis gansaxorcieleblad saxelmwifo

xarjebTan, SesyidvebTan da axlaxan dasrulebuli finansuri angariSgebis procesebTan

mimarTebiT (saxelmwifo xarjebi da finansuri angariSgeba _ PEFA, qveynis Sesyidvebis

sistemis Sefaseba _ CPA da buRaltruli aRricxva da auditi _ ROSC-i). msoflio banki

mTavrobas damatebiT daxmarebas gauwevs monitoringis, Sefasebisa da komunikaciebis

gaumjobesebis saqmeSi. IFC-i ganagrZobs muSaobas finansuri bazrebis gasaRrmaveblad

(maT Soris, axal sasesxo instrumentebze, rogoricaa energoefeqtianobis dafinanse-

ba) da sainvesticio klimatis gasaumjobeseblad, ise, rom gansakuTrebuli yuradReba

mieqceva kerZo da sajaro seqtorebs Soris TanamSromlobas energiisa da transportis

sferoebSi, agreTve, mcire da saSualo biznesis ganviTarebas. msoflio banki da IFC-i

kidev erTxel Seiswavlian, Tu ra politikuri barierebi uSlis xels sasoflo-sameurneo

produqciis warmoebis zrdas da ra gzebi arsebobs misi moculobis gasazrdelad.

48 49

I. socialurad daucvel pirTa problemis gadaWra- programuli fiskaluri CarCo, romelic moicavs swori politikis

arCevanis unars saxelmwifo xarjebis warmarTvisas;- safinanso seqtorisaTvis konsultaciebis gaweva – maT Soris sabanko

portfelis marTvis sakiTxebSi (IFC) da SesaZlo FSAP-i;- siRaribis monitoringi (programiT gaTvaliswinebuli) da politikis

Sedegebis distribuciuli analizi;- jandacvisa da ganaTlebis seqtorebis mimoxilva;- komunikaciebi;- iZulebiT gadaadgilebul pirTa Temebis ganviTarebis granti;- ekonomikuri krizisis zegavlena iZulebiT gadaadgilebul pirebze;- axalgazrduli xmebi;- angariSi progresis Sesaxeb (JNA-s SefasebiT);- teqnikuri daxmareba valis marTvisaTvis (xazina).

II. konkurentulobis amaRleba krizisis Semdgom zrdis periodSi- memorandumi qveynis ekonomikuri zrdis Sesaxeb;- ganviTarebis strategia soflad ( CEM-is nawili);- sainvesticio klimati soflad da sasoflo-sameurneo produqtebis

miwodebis qselis analizi; - energoseqtorSi investirebis strategia ( CEM-is nawili) da maregu-

lirebeli wesebi;- vaWroba da konkurentuloba – eqsportis xarisxis standartebis

gaZliereba;- sasoflo-sameurneo produqciis testirebisa da sertificirebis

gaZlierebis strategia (IFC-sTan erTad);- sakonsultacio mxardaWera bankebisaTvis, maT Soris _ uimedo

valebisa da ipoTekuri dafinansebis sferoSi, energoefeqtianobaSi (IFC-i);

- sakonsultacio mxardaWera mcire da saSualo sawarmoebisaTvis (IFC-i);- partnioroba kerZo da sajaro seqtorebs Soris infrastruqturul

proeqtebSi mosalodneli energo da transportis seqtorebTan dakavSirebiT (IFC-i);

- konkurentulobis Sefaseba da Semdgomi mosalodneli RonisZiebani (IFC-i);

- saxelmwifo xarjebi da saxelmwifo Sesyidvebi, Semdgomi analiti-kuri samuSao;

- monitoringi da Sefaseba.

bloki 1: ZiriTadi arasasesxo momsaxurebis saxeebi: analitikuri da

sakonsultacio samsaxuri ( AAA) da teqnikuri daxmareba (TA)

50 51

95. dabolos, msoflio bankis jgufi Seecdeba, teqnikuri daxmareba gauwios

marTvis or urTierTgadamkveT sferos – komunikaciebsa da Sedegebis monitorings.

komunikaciebis sferoSi msoflio bankis jgufi mWidrod iTanamSromlebs mTavrobasTan,

raTa mxari dauWiros mas umTavresi politikuri sakiTxebis garSemo komunikaciasa da

dialogis warmarTvaSi. monitoringisa da Sefasebis sferoebSi msoflio banki ganixilavs

statistikuri informaciis gaumjobesebis SesaZleblobas rogorc statistikis depar-

tamentSi, ise saministroebis SigniT, rac gulisxmobs teqnikur daxmarebas gzaTa de-

partamentisTvis samuSaoTa mimdinareobisa da Sedegebis miRwevis monitoringis gasaum-

jobeseblad.

96. IFC-i investiciebs gascems kerZo kompaniebze rogorc pirdapir, ise finan-

suri Suamavlebis meSveobiT. IFC-m saqarTvelos sabanko seqtors 2009 fiskalur wels

ukve gamouyo programiT dagegmili dafinanseba krizisze reagirebisaTvis da samomav-

lod prioretetebad dayofs ekonomikis realur seqtorebs. IFC-i ganagrZobs finansuri

seqtoris mxardaWeras sxva saerTaSoriso partniorebTan erTad, rogoricaa, magaliTad,

EBRD-i. mxardaWera gagrZeldeba krizisis Semdgom etapebzec, rogorc ki Tavs iCens ax-

ali saWiroeba. IFC-is da IDA/IBRD-is programebi ukve saTanadod aris integrirebuli

saqarTveloSi. momavalSi amgvari TanamSromloba, axali SesaZleblobebis gaCenasTan er-

Tad, ufro metad ganviTardeba (ix. naxazi 2). IFC-i saqarTvelos sakonsultacio momsax-

urebas gauwevs sabanko seqtoris gansaviTareblad da biznesgaremos gasaumjobeseblad,

maT Soris, korporaciuli marTvis sferoSic.

97. MIGA-s saqarTveloSi amJamad moqmedi proeqtebi ara aqvs, magram mzadaa

qveyanaSi saqmianobis dasawyebad, cdilobs, daarwmunos investorebi investiciebis usa-

frTxoebaSi da SesTavazos maT politikuri riskis dazRvevis produqti. am saagentos

standartuli dazRveva investors Semdegi riskebisagan daicavs: transferis SezRudvis

riski, eqspropriacia, kontraqtis Seusrulebloba, omi da samoqalaqo areuloba. garda

amisa, MIGA uaxloes periodSi apirebs mWidro kavSiris damyarebas saqarTvelos sainves-

ticio riskebis marTvis saagentosTan imgvar sferoebSi TanamSromlobiT, rogorebi-

caa: riskis Sefaseba, TanamSromloba marketingis mimarTulebiT, SesaZlo treningebis

Catareba da teqnikuri daxmareba.

50 51

bloki 2: erToblivi banki - IFC-is da IDA/IBRD-is integrirebuli programebi

IFC-i da IDA/IBRD-i ganixilaven erTobliv midgomebsa da programebs qve-moT CamoTvlil ZiriTad seqtorebSi, vinaidan am dargebisaTvis gaweuli daxmareba yvelaze met pozitiur Sedegs moitans qveyanasTan partnioro-bis strategiis periodis ganmavlobaSi. es seqtorebia:• finansuri seqtori. msoflio banki, saerTaSoriso savaluto fond-

Tan TanamSromlobiT, analitikur mxardaWeras miawvdis finansur seqtors da Caatarebs seqtoris amomwurav analizs. paralelurad, IFC-i konkretul sistemur bankebs miawvdis dafinansebasa da re-komendaciebs, aseve gauwevs konsultaciebs maTi finansuri siZli-eris uzrunvelsayofad da uimedo valebis samarTavad. garda amisa, IFC-i mxars dauWers dafinansebis ramdenime berketis amoqmedebas. SesaZlebelia dafinansebis gamoyofa mikro, mcire da saSualo sawarmoebisaTvis, ipoTekuri sesxebisa da energoefeqtianobisken mimarTuli sesxebisaTvis. makro da individualuri bankebis donee-bze erTdrouli muSaobisa da sando investorebisaTvis informaciis miwodebis Sedegad mosalodnelia orive xsenebul doneze muSaobis efeqtianobis amaRleba.

• biznesgaremos Seqmnis xelSesawyobad IFC-i daasrulebs sakonsul-tacio momsaxurebis programas, romelic miznad isaxavs biznesis warmoebis xarjebis Semcirebas. SesaZloa amgvari Zalisxmeva ufro metad gaZlierdes da msoflio bankis ganviTarebis politikiT gaT-valiswinebuli iyos Sesabamisi samizne Sedegebi, riTac sagadasaxado da sabaJo administrirebas SesaZlebloba miecema, gadaWras vaWro-bis arasatarifo barierebTan (maT Soris, teqnikur barierebTan) dakavSirebuli problemebi. IFC-i imuSavebs Sedegebis Sefasebaze, rac ganviTarebis politikis saqmianobis progresis monitoringis saSualebas mogvcems, ramdenadac ganviTarebis politikis moqmedeba IFC-is analizisa da SeTavazebebis irgvliv dialogis gaZlierebis berketebs iZleva. IFC-i sakonsultacio momsaxurebas gaswevs imis Sesaxeb, Tu ra gziT gaumjobesdes sasursaTo usafrTxoeba, rac soflis ganviTarebis proeqtis farglebSi ganxorcieldeba da gaaZlierebs ganviTarebis politikiT gaTvaliswinebul sasursaTo standartebisa da sursaTis testirebis laboratoriebis muSaobas.

• infrastruqturis sferoSi sxvadasxva saavtomobilo magistralisa da sagzao proeqtebis dafinansebiT msoflio banki did investirebas moaxdens satransporto infrastruqturaSi, IFC-i ki Seiswavlis, ra damatebiTi wvlilis Setana SeuZlia transportis sferoSi kerZo investiciebs, sajaro da kerZo seqtorebis partniorobas. analo-giurad, msoflio banki da IFC-i erTad imuSaveben energoseqtorSi, raTa gamoikvlion, ram SeiZleba Seasrulos katalizatoris roli hidroeleqtroenergiis seqtorSi kerZo investiciebis mozidvis, aseve, kerZo da sajaro seqtorebs Soris partniorobis dawyebis saqmeSi.

52 53

b. sakredito portfelis marTva da misi Sedegebi

98. msoflio banks saqarTvelosTvis sul 1.1 miliardi dolaris ekvivalenti

aqvs gamoyofili. aqedan 973 milioni dolari aTvisebulia. aqtiuri (amJamad mimdinare)

portfeli Sedgeba IDA-s 10 kreditisa da IBRD-is erTi sesxisagan, romlis moculobac 295

milion dolars Seadgens da romlisganac 135 milioni dolari jer kidev ar aris aTvise-

buli. garda amisa, msoflio banki administrirebas uwevs daaxloebiT 20 satrasto fonds

sxvadasxva programis mxardasaWerad.

99. Pportfelis marTva zomierad damakmayofilebelia. am portfelis aTvisebis

koeficienti10, romelic mTeli portfelis muSaobis efeqtianobis umTavresi indikato-

ria, 2009 finansuri wlis bolosaTvis 75%-s aRemateboda, rac bevrad ufro maRalia

msoflio bankis saSualo maCvenebelze (20%-i). aTvisebis koeficientis zrda daCqarda

2009 fiskaluri wlis ganmavlobaSi (2008 fiskalur wels iyo 50%-i), rac mTavrobis mier

proeqtebis ganxorcielebis unaris amaRlebasa da mimdinare ekonomikuri daRmasvlis

periodSi anticikluri mxardaWeris gadaudeblobas asaxavs. amJamad aradamakmayofile-

beli statusi arc erT proeqts ara aqvs, Tumca, 2009 finansur wels zogierTi maTgani

restruqturizebul iqna (frinvelis gripi, jandacvis reforma, soflis ganviTarebis

proeqti). movlenaTa amgvari ganviTareba simptomuria da asaxavs saqarTveloSi poli-

tikis swrafad cvalebad garemos, ris gamoc saWiro gaxda msoflio bankis sxvadasxva

viTarebaSi Seqmnili programebis adaptireba cvalebadi midgomebisa da prioritetebis

fonze. CPS-is dasrulebis angariSSi gamokveTilia, Tu ramdenad mniSvnelovania is, rom

bankma saTanado reagireba moaxdinos swrafi tempiT cvalebad garemoSi. aSkaraa, rom

amgvar garemoSi portfelis xarisxis SesanarCuneblad aucilebeli iqneba meti aqtiu-

robiT ganxorcieldes monitoringi da zedamxedveloba CPS-is moqmedebis mTeli xnis

ganmavlobaSi. am periodSi, savaraudod, mniSvnelovnad Semcirdeba portfelSi arsebuli

proeqtebis saerTo raodenoba. miuxedavad imisa, rom zogi proeqti SeiZleba gagrZeldes,

CPS-is moqmedebis periodis dasrulebisaTvis yvela mimdinare proeqtis dasrulebaa mo-

salodneli.

100. mkacri yuradRebis uwyvetoba da mxardaWera portfelis ganxorcielebi-

sTvis. portfelSi infrastruqturis sferos umetesi wili investiciebs uWiravs, rac

ufro met fokusirebul zedamxedvelobas moiTxovs xarisxTan dakavSirebuli sakiTxe-

bis gadaWrisa da korufciis riskis Semcirebis mizniT. zedamxedveloba unda gaZlierdes:

(I) riskze dafuZnebuli midgomebis danergviT; (II) sarisko proeqtebisaTvis ufro meti

resursebis gamoyofiT; (III) samuSaoebis ukeTesi fizikuri gadamowmebiT da (IV) monito-

ringisa da Sesrulebis sferoSi samoqalaqo organizaciebisaTvis meti rolis miniWebiT

(maTze dayrdnobiT). Sedegebis monitoringi unda ganxorcieldes mTavrobasTan erTad

portfelis Sedegebis regularuli mimoxilvis saSualebiT.

101. garda amisa, ganxorcielda qveynis marTvis programis decentralizacia.

2009 finansuri wlis bolosaTvis samxreT kavkasiis regionulma direqtorma saqarTve-

loSi, TbilisSi gadainacvla. amave periodisaTvis dainiSneba sami damatebiTi saerTaSo-

10. aTvisebuli Tanxis odenoba erTi fiskaluri wlis ganmavlobaSi, rogorc wlis dasawyisSi auTvise-

blad darCenili balansis procenti (mxolod sainvesticio operaciebis SemTxvevaSi).

52 53

riso kadri, romlebic qveynis seqtoris koordinatorTa funqcias Seasruleben. IFC-mac

gaaZliera Tavisi mmarTveloba TbilisSi. ufro meti RonisZieba gatardeba samxreT ka-

vkasiis qveynebSi operaciaTa marTvisa da programaTa Soris sinergiis gasaZliereblad.

mosalodnelia, rom klientebTan siaxlove da qveyanaSi ufro Zlieri warmomadgenlobis

arseboba gaaumjobesebs portfelis Sesrulebas, dialogs politikis irgvliv da pra-

qtikul Sedegebs.

102. rac Seexeba qveynis sistemebs, msoflio bankis saerTo strategiuli mimarTu-

lebis Sesabamisad, mniSvnelovani iqneba saqarTveloSi am sistemaze TanadaTanobiT ga-

dasvla (imis gaTvaliswinebiT, rom amas dro dasWirdeba). CPS-is dasrulebis angariSSi

gamokveTilia proeqtebis ganxorcielebis avtonomiuri erTeulebidan ufro integrire-

bul midgomaze gadasvlis aucilebloba CPS-is bolo strategiaSi. es midgoma mimdinare

strategiis farglebSic gagrZeldeba. msoflio bankis proeqtebi amJamad specialuri

angariSebis funqcionirebisaTvis saxelmwifo xazinis sistemas iyenebs. ganxorcielda

xazinis sistemis Sefaseba. igi akmayofilebs msoflio bankis moTxovnebs. finansuri mar-

Tvis sxva sakiTxebi msoflio bankis regularuli procedurebis meSveobiT ganixileba.

proeqtis ganmaxorcielebeli saagentoebis finansuri marTvis sistemebi, zogadad, da-

makmayofilebelia. radganac mTavroba Tavisi finansuri marTvis sistemebs aumjobesebs,

msoflio banki Seafasebs, ramdenad SeuZlia mas am saxelmwifo sistemebis, maT Soris,

qveynis sabuRaltro aRricxvisa da auditoruli sistemebis ufro farTod gamoyeneba

(rac sajaro seqtoris aRricxvianobis saerTaSoriso standartebis SemoRebasTan erTad

albaT SesaZlebeli gaxdeba).

103. IFC-is portfeli saqarTvelosaTvis 312 milion dolars Seadgens, saidanac

242 milioni aTvisebulia (2009 wlis 30 ivniss). es portfeli moicavs 8 klients, upirve-

les yovlisa, sabanko seqtoridan, magram, imavdroulad, ramdenime klientsac uZravi

qonebis seqtoridan. Pportfelis muSaoba mTlianobaSi damakmayofilebelia, magram masze

uaryofiTi zegavlena moaxdina konfliqtma da amJamindelma finansurma krizisma. ami-

tom IFC-is personali am portfels didi yuradRebiT marTavs.

g. Sedegebze orientirebuli monitoringi da Sefaseba

104. msoflio banki Sedegebze dafuZnebul monitoringsa da Sefasebas gamoiye-

nebs imis gasaanalizeblad, Tu ra wvlili Seaqvs mis saqmianobas praqtikuli Sedege-

bis miRwevaSi. garda amisa, monitoringi saSualebas mogvcems, adekvaturad Seswordes

bankis sasesxo da arasasesxo programebic. amasTan, msoflio banki Tavis wvlils Seitans

saqarTvelos mier Sedegebis marTvis unaris amaRlebaSi. msoflio banki amis miRwevas qve-

moT CamoTvlil saqmianobaTa ganxorcielebiT gegmavs:

• proeqtze zedamxedvelobis gaZliereba, samuSaoebis ukeT Sesruleba da qveynis

ofisis personalis gamoyeneba;

• analitikuri samuSao: saxelmwifo politikisa da investiciebis zegavlenis

SesaZlo Sedegebis modelireba (magaliTad, jandacvis seqtorisaTvis);

• qveynis portfelis Sedegebis wliuri mimoxilvebis momzadeba am CPS-is far-

glebSi ganxorcielebuli monitoringis Sedegebis safuZvelze;

54 55

• mtkicebulebebze dafuZnebuli analizis, maT Soris, saerTaSoriso kvlevebis

(biznesgaremosa da sawarmoo muSaobis kvleva – BEEPS-i da biznesis warmoeba) da Sesrulebis efeqtianobis reitingis gamoyeneba (CPA da PEFA);

• multimediis ufro efeqturi gamoyeneba sazogadoebis informirebis mizniT:

unda momzaddes siuJetebi warmatebuli magaliTebis Sesaxeb.

105. statistika: ganviTarebis efeqturi da gamWvirvale programisaTvis udidesi

mniSvneloba aqvs sando statistikur monacemebs. rogorc zemoT aRiniSna, mTavrobam am

cota xnis win parlamentSi dasamtkiceblad Seitana axali kanoni, romelic statistikuri

informaciis xarisxis amaRlebas isaxavs miznad da iTvaliswinebs statistikis saagentos

damoukidebel organod Camoyalibebas, saerTaSorisod aRiarebuli statistikuri me-

Todebisa da standartebis danergvas da instituciuri da personalis unarianobis amaR-

lebas. am politikis miRebasa da ganxorcielebas mxars dauWers ganviTarebis politikis

qmedebaTa mTeli seria, xolo siRaribis yovelwliuri Sefaseba viTarebis gaumjobesebas

daexmareba. statistikuri informaciisa da monacemTa bazis gaumjobesebaze TavianT se-

qtorebSi jandacvisa da ganaTlebis dargSi mimdinare proeqtebic muSaoben.

d. komunikaciis strategia

106. marTalia, saqarTvelom sajaro seqtoris STambeWdavi da swrafi refo-

rmebis kursi airCia, magram man aucileblad unda gaaaqtiuros komunikacia amgva-

ri politikuri arCevanis mizanSewonilobis dasabuTebis mizniT da mdgradi gan-

vi Tarebis xelSesawyobad am diskusiebSi sazogadoebac unda CarTos. saTanado

ma r T visa da angariSvaldebulebis uzrunvelsayofad aucilebelia meti gamWvirvaloba

da sazogadoebis CarTuloba. urTierTobebisa da propagandis meSeveobiT, socialuri

cnobierebis amaRlebiT, SesaZlebelia mosaxleobis imgvari mxardaWeris mopoveba,

romelic sabolood uzrunvelyofs reformebis mdgradobas.

107. am mizniT msoflio bankis bevri proeqti mxars dauWers dainteresebuli

mxareebis CarTulobasa da maTi mxridan mudmiv Sefasebas ganviTarebis Sedegebis

gasaumjobeseblad. ufro metic, strategiebis umravlesoba (magaliTad, socialur

da jandacvis reformebTan dakavSirebiT) marTlac moipovebs did mxardaWeras,

rodesac ufro meti gamWvirvalobisa da sazogadoebis monawileobis meSveobiT

moqalaqeebs ecodinebaT, rogor xorcieldeba es reformebi da rogor SeiZleba maTi

Sedegebis maqsimaluri gamoyeneba. aqedan gamomdinare, msoflio banki gaaZlierebs

Tavis komunikaciis strategias yvelanairi saqmianobiT da mTavrobasac daexmareba

imaves gakeTebaSi. aseTi samuSao SeiZleba moicavdes, magaliTad, mTavrobasTan da sxva

donorebTan muSaobas regularuli Sexvedrebisa da seminarebis Casatareblad ufro

farTo auditoriisaTvis politikis umTavresi sakiTxebis gasacnobad.

54 55

e. TanamSromloba

108. sxva donorebTan da saerTaSoriso institutebTan partniorobis Camoyal-

ibebasa da SenarCunebas gansakuTrebiT mniSvnelovani roli eniWeba CPS-is warmate-

biT ganxorcielebis saqmeSi. CPS-is dasrulebis angariSSi gamokveTilia, ramdenad

mniSvnelovani iyo partnioroba ukanaskneli CPS-is ganmavlobaSi resursebisa da cod-

nis efeqtianad gamoyenebis TvalsazrisiT. aqcentireba TanamSromlobaze kvlavac gagr-

Zeldeba da gaRrmavdeba mimdinare CPS-is farglebSi. TanamSromlobis TvalsazrisiT

arsebobs ori ZiriTadi elementi:

• konfliqtis Semdgomi mxardaWeris gagrZeleba da koordinacia. msoflio

banki donorTa oqtombris konferenciis Semdeg lideris funqcias asrulebs

donorebisagan miRebuli Tanxebis koordinirebis saqmeSi. am mizniT igi peri-

odulad muSaobs donorebTan miRweuli progresis angariSebis momzadebisaT-

vis. pirveli aseTi angariSi 2009 wlis ivlisSi momzadda (igi gamoqveynebulia).

saqarTvelos ganviTarebis strategiis mTliani mdgradobisaTvis udidesi mniS-

vneloba eqneba dapirebul daxmarebaTa droulad da koordinirebulad gawevas.

donorebis konferenciis monawile 38-ma qveyanam da 15-ma saerTaSoriso orga-

nizaciam gamoTqva mzadyofna, rom sami wlis ganmavlobaSi saqarTvelosTvis 4.5

miliardi dolari gamoyo. 2008 wlis agvistodan 2009 wlis aprilamde saqarTve-

los ukve gadmoeca 1.7 miliardi aSS dolari.

• konkretul seqtorTan dakavSirebuli saqmianobebis koordinacia. msoflio

bankis programa TavisTavad sakmaod fokusirebulia. sxva donorebTan mWidro

TanamSromloba arsebiT rols Seasrulebs msoflio bankis operaciebisaTvis

ufro farTo mxardaWeris TvalsazrisiT. am ZalisxmevaTa fonze msoflio ban-

ki aZlierebs koordinacias uamrav sxvadasxva seqtorSi, rogorc es qvemoT aris

aRwerili.

109. satransporto infrastruqtura: msoflio banki albaT yvelaze ufro aqtiuria

transportis seqtorSi mimdinare saqmianobaTa koordinaciis mxardaWeris Tvalsazri-

siT. ramdenime saerTaSoriso instituti da donori (maT Soris _ ADB-i, JICA da MCC-i) transportis seqtoris sxvadasxva segments exmareba. USAID-sac aqvs sagzao usafrTxoe-

bis proeqti, romelic msoflio bankTan aris koordinirebuli. miuxedavad imisa, rom es

proeqtebi msoflio bankis pirdapiri TanadafinansebiT ar sargebloben, banki mainc li-

deris funqcias asrulebs, ramdenadac igi awyobs periodul diskusiebs donorTa Soris

da uzrunvelyofs samuSaos dagegmvisa da ganxorcielebis procesis Tanamimdevruloba-

sa da harmoniulobas. es koordinacia gansakuTrebiT mniSvnelovania imis uzrunvelsa-

yofad, rom donorebma, romlebic gzebis proeqts exmarebian saSualovadiani periodis

ganmavlobaSi, gzebis mSeneblobisas erTiani standartebi gamoiyenon da, imavdroulad,

moaxdinon sagzao usafrTxoebisadmi TavianTi midgomebis koordinaciac (detalebisaT-

vis ixileT bloki 3).

56 57

bloki 3: msoflio bankis wamyvani roli investiciebis koordinirebaSi saqarTvelos

transportis seqtorSi

mTavrobas aqvs programa, romelic miznad isaxavs satransporto deref-nisa da masTan mierTebuli gzebis reabilitacias. saWiroa sxvadasxva do-noris mxardamWeri RonisZiebebis koordinireba. ukanaskneli ramdenime wlis ganmavlobaSi swored msoflio bankia organizatori saqarTvelosa da samxreT kavkasiisaTvis transportis seqtoris donorTa yovelwliuri konferenciisa. saqarTveloSi gamarTuli ukanaskneli Sexvedra, romelic konkretulad sagzao seqtors exeboda, 2009 wlis maisSi gaimarTa. mas ori TanaTavmjdomare hyavda: msoflio banki da regionuli ganviTarebisa da infrastruqturis ministri. konferenciaze warmoadgines mTavrobis strategia sagzao seqtoris ganviTarebisa da dafinansebis mimarTulebiT, ganixiles donorTa programebi da dafinansebis deficitis Sevsebis Sesa-Zleblobebi. donorebsa da mTavrobas Soris mWidro koordinaciisaTvis msoflio banki da saqarTvelos mTavroba regularulad awyoben amgvar Sexvedrebs. msoflio banki mzad aris, ganagrZos mTavrobasTan erTad am sferoSi wamyvani koordinatoris funqciis Sesruleba.

koordinireba gansakuTrebiT mniSvnelovania yoveli am segmentis urT-ierTTavsebadi teqnikuri standartis, socialuri da garemosdacviTi damcavi meqanizmebis da sagzao usafrTxoebis zomebis uzrunvelsayofad. magaliTad, msoflio bankma ramdenime mniSvnelovan sakiTxTan dakavSire-biT uaRresad mWidro TanamSromloba daamyara or ZiriTad damfinanse-belTan _ ADB-Tan da JICA-Tan. (I) ADB-i ganixilavs msoflio bankis mier dafinansebuli aRmosavleT-dasavleTis mesame gzatkecilis gaumjobese-bis E-60 proeqtiT gaTvaliswinebuli sagzao usafrTxoebis analogiuri saqmianobis dawyebis SesaZleblobas samomavloEE-70-is proeqtis farg-lebSi; (II) msoflio banki, ADB-i da JICA SeTanxmdnen msoflio bankisa da mTavrobis mier ganxorcielebis erToblivad SemuSavebuli standartebis gamoyenebaze; (III) es sami organizacia koordinacias gauwevs mTlian teqni-kur daxmarebasa da treningebs.

garda amisa, msoflio banki sponsorobas uwevs transportis seqtoris donorTa yovelwliur sakoordinacio Sexvedras samxreT kavkasiis sami qveynisaTvis. es RonisZieba parizSi tardeba. am Sexvedrebis mizania, moic-vas transportis yvela ZiriTadi saxeoba: rkinigza, saavtomobilo gzebi, sazRvao transporti da aviacia. sul bolos aseTi Sexvedra 2009 wlis ivnisSi gaimarTa da mas yvela is ZiriTadi donori eswreboda, romlebic am regionSi aqtiurad muSaoben. donorebma daadastures, Tu ramdenad Ri-rebulad miaCniaT qveynebs Soris am proeqtebis ganxorcieleba. maT imedi gamoTqves, rom msoflio banki kvlavac Seasrulebs lideris funqcias.

56 57

110. makroekonomikuri mxardaWera: msoflio banki mWidrod TanamSromlobs IMF-Tan

sesxebis gacemisa da zogadi ekonomikuri politikis irgvliv dialogis sferoebSi gan-

viTarebisaken mimarTuli politikis xelSesawyobad. SeTanxmebam sarezervo kreditebis

Sesaxeb kritikuli roli Seasrula saqarTveloSi makroekonomikuri mdgomareobis mxar-

daWeris saqmeSi. msoflio bankis ganviTarebis politikis programa Tanadafinansebas ni-

derlandebisganac iRebs. paralelurad, EU da EBRD-i mniSvnelovan daxmarebas uweven

qveynis biujets. msoflio banki IMF-Tan TanamSromlobiT ganagrZobs makroekonomikuri

situaciis monitorings. periodulad Catardeba valis mdgradobisa da fiskaluri efe-

qtianobis erToblivi analizi.

111. iZulebiT gadaadgilebuli pirebi: konfliqtis Semdgom periodSi iZulebiT

gadaadgilebul pirTa daxmarebaSi uamravi donoria CarTuli. maT Soris arian: UN-i, USAID-i, KfW-i, EU da msoflio banki. mTavroba, devnilTa saorganizacio komitetTan

erTad (romelic ltolvilTa da gansaxlebis saministroSi Seiqmna), am daxmarebaTa ko-

ordinatoris rols asrulebs, raTa ganaxorcielos binebiT uzrunvelyofa da sxva dax-

marebaTa urTierTTavsebadoba.

112. finansuri da kerZo seqtorebi: IMF-i da msoflio banki erTad muSaoben finan-

sur seqtorze, romelic IMF-is programaSi umTavres rols asrulebs. amas emateba IFC-is, EBRD-is da ADB-is mier mxardaWerili sesxebis gacema, kapitalis dafinanseba da teqniku-

ri daxmareba. IFC-i da EBRD-i gansakuTrebiT mWidrod TanamSromloben udidesi mniSvne-

lobis mqone bankebisaTvis sistematuri daxmarebis aRmosaCenad. isini koordinirebulad

awvdian maT sainvesticio dafinansebas. garda amisa, IFC-i iyenebs kanadis saerTaSoriso

daxmarebis saagentosa da BP-is mxardaWeras biznesis xelSemwyobis garemos Seqmnisa da

korporaciuli marTvis sakiTxebSi rCevebis miRebis TvalsazrisiT.

113. saxelmwifo seqtoris marTva: msoflio banki afinansebs saxelmwifo seqtoris

finansuri marTvis reformis mxardamWer proeqts Semdeg donorebTan erTad: DFID-i, SIGA da niderlandebis mTavroba. garda amisa, msoflio bankma da evrokavSirma erTo-

blivad moamzades saxelmwifo xarjebisa da finansuri angariSgebis analizi da Sedare-

ba. amasTan, evrokavSiri saqarTvelos mTavrobas paralelur teqnikur daxmarebas uwevs

biujetis mravalwliani dagegmvisaTvis ganviTarebis politikis moqmedebaTa miznebis

misaRwevad. GTZ-i amgvaradve exmareba kontrolis palatas auditis meTodologiis axal

kanonTan TavsebadobaSi mosayvanad.

114. municipaluri infrastruqtura: msoflio banki saqarTvelos daexmara munici-

paluri ganviTarebis fondis SeqmnaSi. droTa ganmavlobaSi es fondi im umTavres arxad

iqca, romelSic sxvadasxva donori mimarTavs sakuTar saxsrebs. am meqanizmis saSuale-

biT ABD-i da EBRD-i, msoflio bankis paralelurad, qveyanas municipaluri ganviTarebis

fondis meSveobiT exmarebian. MCC-i Tavis saxsrebs municipaluri ganviTarebis fondi-

sakenac mimarTavs. mas msoflio bankTan dadebuli aqvs kontraqti, romelic, garkveuli

anazRaurebis sanacvlod, msoflio bankTan erTad am saxsrebis saTanado gamoyenebaze

zedamxedvelobis ganxorcielebas iTvaliswinebs.

115. energoinsfrastruqtura: msoflio bankis gundi amzadebs teqnikur-ekonomi-

kuri mizanSewonilobis angariSs mdinare xudonze hidroeleqtrosadguris amoqmedebi-

58 59

saTvis. paralelurad, EBRD-i da EIB-i ganixilaven TurqeTisaken mimavali maRali Zabvis

eleqtrogadamcemi xazis regionuli mniSvnelobis mSeneblobis mxardaWeris SesaZle-

blobas. USAID-i swavlobs gazis Senaxvis potencials. mTavroba am saqmianobaTa koordi-

natoris funqcias asrulebs, raTa erTi Tanamimdevruli strategiis farglebSi uzrun-

velyos yvela komponentis urTierTTavsebadoba.

116. ganaTleba: iaponiis mier dafinansebulia PHRD-i fondis mier gacemuli gran-

ti, romelic mibmulia msoflio bankis im proeqtTan, romelic kritikuli mniSvnelobis

teqnikuri daxmarebis gawevas iTvaliswinebs msoflio bankis sainvesticio proeqtebis

Sesavsebad. profesiul-teqnikuri swavlebis sferoSi qveyanas damatebiT teqnikur dax-

marebas gauweven sxva donorebic, esenia: USAID-i, KfW-i, EC-i, UNICEF-i, UNDP-i, SIGA da

niderlandebis mTavroba.

117. jandacva: jandacvis reformis dRis wesrigs mxars uWers sxvadasxva donori da

saerTaSoriso organizacia: USAID-i, EC-i, fondi Ria sazogadoeba saqarTvelo, globa-

luri fondi da gaeros sxvadasxva saagento.

118. soflis meurneoba: msoflio bankis soflis ganviTarebis proeqtis Tanadamfi-

nanseblebi arian soflis meurneobis ganviTarebis saerTaSoriso fondi da iaponiis mier

dafinansebuli PHRD-i granti. am sferos mniSvnelovan daxmarebas uweven sxva donore-

bic: USAID-i, EC-i, FAO, UN-i, SIGA da MCC-i. SvedeTi analitikur daxmarebas gauwevs

miwis registraciis, sasursaTo usafrTxoebisa da testirebis sferoebs, rac koordini-

rebuli iqneba msoflio bankis DPO-sa da sasoflo-sameurno saqmianobaTa farglebSi.

V. kreditunarianoba da riskebi

119. yvelaze didi riski isaa, rom SesaZloa ekonomikuri daRmasvla mosalodnelze

xangrZlivi da Rrma aRmoCndes. SemoTavazebuli strategia droebiT ekonomikur

daRmasvlazea morgebuli, romlis ganmavlobaSic mizanSewonili iqneba ekonomikis

stimulirebis mxardaWera, raTa saqarTvelom SeZlos prioritetuli investiciebisa

da socialuri programebis SenarCuneba. am periodis dasrulebis Semdeg uwyveti

siRrmiseuli reformebi qveyanas ganviTarebisa da ucxouri investiciebis moculobis

gazrdis saSualebas miscems mTavrobisagan da donorebisagan dafinansebis miRebis

gareSec. Tumca, investorTa ndoba (romelic kerZo kapitalis Semodinebis mobilizaciaze

orientirebuli saqarTvelos mTavrobis strategiis umTavresi elementia) am bolo

dros Sesustda rogorc qveynis SigniT, ise regionul doneze mimdinare globaluri

ekonomikuri daRmasvlisa da sensitiuri politikuri movlenebis gamo. mosalodnelze

ufro mcire moculobis ucxouri investiciebis Semosvlis SemTxvevaSi, rac gamoiwvevs

ufro gaxangrZlivebul daRmasvlas, mTavroba iZulebuli iqneba, Tavisi midgoma

Secvalos Semdeg sferoebSi (xolo msoflio banks, Tavis mxriv, mouwevs IMF-Tan mWidro

koordinaciiT am Secvlili midgomebis mxardaWera):

• fiskaluri sfero: 2009 finansuri wlis didi fiskaluri deficiti adekvatur

anticiklur RonisZiebas warmoadgens, romelsac donorTa mxridan gazrdili

dafinanseba uWers mxars. Tumca, Tu daRmasvla mosalodnelze ufro xangrZlivi

aRmoCnda, mTavrobam xarjebis prioritetebsa da fiskalur daregulirebas unda

58 59

gadaxedos. es gaxlavT erT-erTi mizezi, ris gamoc msoflio bankma resursebis

marTva gaaumjobesa, rac Sedegebis safuZvelze biujetirebis SemoRebasac

moicavs da misi strategiis umTavres nawils warmoadgens. garda amisa, msoflio

banki ganagrZobs arsebuli situaciis monitorings. saxelmwifo sainvesticio

programebis sferoSi sabaziso socialuri daxmarebis uwyvetobis mxardasaWerad

igi rCevebs miawvdis saqarTvelos mTavrobas. IMF-is mier mxardaWerili programa,

Tavis mxriv, saSualovadian periodSi adekvaturi regulirebisTvis saWiro CarCos

iZleva.

• vali: saxelmwifos sagareo vali, romelic krizisul viTarebaSi Sedioda, 2007

wels mTliani Siga produqtis 18%-s ar aRemateboda, ramac mTavrobas saSualeba

misca, ufro meti vali aeRo fiskaluri xarjebis mxardasaWerad. ar aris

mosalodneli, rom donorebisa da saerTaSoriso institutebisagan miRebuli

dafinansebis gazrda zedmet tvirTad daawves saqarTvelos mTavrobas: donorebis

mier 2008 wlis oqtomberSi dapirebuli dafinansebis daaxloebiT naxevari

grantebia, danarCeni _ an koncesiuri an bazarze dafuZnebuli grZelvadiani

sesxi. Sedegad, miuxedavad imisa, rom momavali ramdenime wlis ganmavlobaSi

mosalodnelia saxelmwifo valis mSp-s 40%-mde gazrda, prognozis mixedviT,

valis odenoba gonivrul da mizanSewonil CarCoebSi darCeba. Tumca, dakargul

bazrebze xelmisawvdomobis aRdgenasTan dakavSirebuli sirTuleebi gaamwvavebs

valis momsaxurebas imis gamo, rom IMF-is mier sakuTari valis ukan Sesyidvis

piki 2013 wels 500 milioni dolaris Rirebulebis evroobligaciebis dafarvis

periods emTxveva. saSualovadiani periodis ganmavlobaSi prognozirebulia

ekonomikisa da ucxouri investiciebis moculobis zrda. am SemTxvevaSi zemoT

aRniSnuli valebis gadaxda SesaZlebelia. magram, Tuki saSualo periodis

ganmavlobaSi ekonomikuri zrda da ucxouri investiciebis moculoba SezRuduli

darCeba, mTavrobam mTeli Tavisi Zalisxmeva valis marTvisken unda mimarTos

misi mdgradobis SesanarCuneblad. valis marTva mTavrobasTan Cveni dialogis

ganuyofel nawilad darCeba. msoflio banki da saerTaSoriso savaluto fondi

valis mdgradobis analizze 2009 wlis ganmavlobaSic ganagrZoben muSaobas, raTa

saTanado safuZveli moamzadon misi marTvis sasikeTo politikis Sesaqmnelad.

mTavrobas valis marTvaSi msoflio bankis saxazino departamentic exmareba.

• finansuri sfero: 2009 finansuri wlis ganmavlobaSi IFC-m, EBRD-ma da

sxva institutebma, sistemuri TvalsazrisiT, didi mxardaWera aRmouCines

mniSvnelovan komerciul bankebs, raTa am ukanasknelT saSualeba miscemodaT,

SeesrulebinaT sesxis gastumrebis ukve damdgari valdebulebani. amgvarad,

Semcirda moklevadiani riskebi, magram finansuri seqtori gaxangrZlivebuli

daRmasvlis winaSe mainc daucveli rCeba. IFC-i pirdapir teqnikur daxmarebas

uwevs bankebs likvidurobisa da uimedo valebis marTvaSi. miuxedavad imisa, rom

IFC-i CPS-is periodis ganmavlobaSi investirebis saSualebiT Seecdeba Tavisi

daxmarebis diversifikacias uZravi qonebis seqtorSi, igi mainc finansuri

seqtoris erTguli rCeba da saWiroebis SemTxvevaSi mas aRmouCens daxmarebas.

ADB-i ganixilavs sabanko seqtorisaTvis daxmarebis gawevis SesaZleblobas.

Tu kerZo ucxouri investiciebi warsulSi arsebul donemde ver gaizrdeba

da, Sesabamisad, mxars ver dauWers ufro didi moculobis sesxebis gacemas,

60 61

msoflio bankis jgufi mTavrobasTan imuSavebs qveynis Siga resursebis ukeT

mobilizaciisaTvis.

120. saqarTvelos kreditunarianobaze zegavlenas ekonomikuri aras tabilu-

robac axdens: agvistos konfliqtamde saqarTvelos kreditunarianoba umjobesdeboda.

2008 wels man SeZlo ganexorcielebina didi moculobis evroobligaciis emisia, romelic

xelmowerisas Tavdapirvelad ganzraxul Tanxas mniSvnelovnad aWarbebda. miuxedavad

saqarTvelos mniSvnelovani miRwevebisa makroekonomikur politikasa da struqturul

reformebSi ormagi krizisis dadgomamde, krizisis Semdeg qveynis kreditunarianoba

mniSvnelovnad SeizRuda. Aamis mizezi iyo qveynis Siga da regionuli daZabuloba, ramac

Ziri gamouTxara investoris rwmenas qveynis mimarT da kerZo kapitalis Semodinebas

qveyanaSi. politikis adekvaturi daregulirebiTa da regionuli da qveynis Siga

daZabulobis SemcirebiT SesaZlebeli gaxdeba kreditunarianobis amaRleba da

ekonomikuri gajansaReba drois saSualo periodSi.

121. sabanko resursebis xelmisawvdomoba kidev erTi damatebiTi riskia. resur-

sebis amJamad arsebuli paketi winaswar iqna gadaxdili da konservatiuli Sefasebis

safuZvelze imgvarad momzadda, rom ar yofila ganxiluli arc IDA-s saxsrebze Semdgomi

xelmisawvdomobis SesaZlebloba (IDA-16-is farglebSi) da arc IBRD-is xelmisawvdomi

cvlilebis SesaZlebloba. Sedegad, msoflio banki ver SeZlebs CPS-is bolo wlebisaTvis

mniSvnelovani (an Tundac umniSvnelo) axali dafinansebis gamoyofas am paketis farglebSi

(garda IFC-is dafinansebisa). Tu ekonomikuri zrda dagegmili tempiT warimarTeba da

saqarTvelos kreditunarianobis indikatorebi gaumjobesdeba, SesaZloa gaZlierdes

bazarze dafuZnebuli resursebis xelmisawvdomobac. meore mxriv, Tu situacia

ise ganviTarda, rom bazarze dafuZnebuli resursebi (maT Soris, ganviTarebisa da

rekonstruqciis saerTaSoriso bankisac) SeizRuda, SesaZloa ganxiluli iqnes IDA-16-is

gamoyenebis SesaZlebloba. CPS-is Sualeduri ganxilvisas udidesi yuradReba mieqceva

msoflio bankis jgufis mxrdan adekvaturi odenobis resursebis gamoyofas, raTa

uzrunvelyofil iqnes rogorc msoflio bankis uwyveti daxmareba saqarTvelosaTvis,

ise yvela saWiro adekvaturi instrumentis arseboba bankis xelSi.

122. garda am ZiriTadi riskebisa, arsebobs sxva sakiTxebic, romlebic dakvirvebasa

da yuradRebas moiTxovs. miuxedavad imisa, rom yvelasaTvis cxadia mTavrobis

swrafva da wadili politikis reformirebisa, mainc aSkaraa, rom saWiroa samoqalaqo

sazogadoebasTan komunikaciebisa da dialogis gaZliereba, raTa dagegmil politikur

reformebs myari safuZveli hqondes farTo politikuri speqtris mxridan mxardaWeris

saxiT. aqedan gamomdinare, CPS-is centralur elements swored komunikaciebis

gaumjobeseba warmoadgens. miuxedavad imisa, rom portfelis TvalsazrisiT yvela

proeqtis statusi amJamad damakmayofilebelia, politikis reformebis ganxorcielebis

maRalma tempma warsulSi mniSvnelovani restruqturizaciis saWiroeba warmoSva, rac

momavalSic gagrZeldeba. aqedan gamomdinare, aucilebelia portfelis sakiTxebisadmi

gansakuTrebuli yuradRebis daTmoba, rac SesaZlebelia ufro meti decentralizaciiTa

da adgilze muSaobiT. dabolos, saqarTvelo bunebrivi katastrofebis riskis winaSe

mdgomi qveyanaa – wyaldidoba, gvalva, miwisZvra da transsasazRvro daavadebebi.

msoflio banki mzad aris, moqnilad imoqmedos da daxmareba gauwios qveyanas nebismieri

amgvari sagangebo viTarebis SemTxvevaSi.

60 61

dan

arT

i 1:

saq

arT

vel

o –

201

0-20

13 f

iska

lu

ri

wl

ebi,

qve

yana

sTan

par

tni

or

obi

s st

rat

egii

s S

edeg

ebis

mat

ric

a

partniori ganviTarebaSi

samo

qal

aqo

saz

ogad

oeba

62 63

saqarTvelo: 2010-2013 fiskaluri wlebis CPS-is Sedegebis matrica

CPS-is mizani 1: konfliqtis Semdgomi da socialurad daucvel pirTa

saWiroebebis dakmayofileba

mTavrobis umTavresi amocanebi

• makrodafiskaluristabilurobisSenarCuneba2010welsdaSemdgomi

ekonomikuri zrdisaTvis xelis Sewyoba (unda ganxorcieldes zrdis tempis,

inflaciis donisa da saxelmwifo sagareo valis odenobis monitoringi);

• bankebismiermetisesxebisgacema,Zlierisabankodasazedamxedvelo

sistemis Seqmna, romelsac ZaluZs kerZo seqtoris zrdis mxardaWera

(unda ganxorcieldes bankebis mier gacemuli sesxebis raodenobis, uimedo

valebis odenobis monitoringi da sxva);

• samuSaoadgilebisSeqmnadaSenarCuneba(saerToumuSevrobisdonis

monitoringi);

• swavlisSedegebisgaumjobeseba(monitoringiundaganxorcieldesTIMSS-

isa da PIRLS- is mier);

• socialuridaxmarebisadamomsaxurebisgazrda,maTSoris,socialuri

usafrTxoebis qselebis gaZliereba, jandacvisa da iZulebiT

gadaadgilebul pirTa daxmareba (unda Sefasdes siRatakis doneebis

mixedviT).

ZiriTadi problemebi da dabrkolebebi

• sagareovaWrobis,ucxoeTidanfulisgadmoricxvebisadakapitalis

Semodinebis Semcireba xels uSlis da aferxebs ekonomikur zrdasa da

amcirebs fiskalur sivrces;

• agvistoskonfliqtmadamTlianiSigaproduqtiszrdisSemcirebam

SeiZleba aamaRlos siRaribis done;

• gaumjobesebassaWiroebssaxelmwifoadministrireba,xarjebismarTvada

saxelmwifo Sesyidvebi;

• ekonomikisSedarebiTnelizrdaamcirebssamuSaoadgilebisSeqmnis

SesaZleblobas kerZo seqtorSi da iwvevs umuSevrobis donis amaRlebas;

• kerZoseqtorissicocxlisunarianobisaTvissaWirofinansuriCarevebi

araadekvaturia _ srulad ar aris morgebuli saWiroebebze;

• jandacvisseqtoriprivatizebulia,aucilebeliaxelmisawvdomigaxdes

(gaiafdes) da gaumjobesdes jandacvis momsaxureba;

• undagaumjobesdesRaribTamiznobrividaxmareba,ufrometadunda

gafarTovdes da moicvas rac SeiZleba meti Raribi adamiani;

• saswavloprogramisreformisSemdgomigaRrmavebiT,maswavlebelTameti

treningebiT, dawyebiTi da saSualo skolebis gamousadegari fizikuri

infrastruqturis (romelic amcirebs swavlebis Sedegebs) reabilitaciis

gziT unda SenarCundes zogadi ganaTlebis sferoSi miRweuli progresi;

• mniSvnelovangaumjobesebassaWiroebsadgilobriviinfrastruqtura

(wyali, gzebi da ase Semdeg).

62 63

CPS-is Sedegebi,

samoqmedo sferoebi da

miznebi

Sedegebi 1-l sferoSi:

ekonomikuri

stabilurobis

SenarCuneba da samuSao

adgilebis Seqmna

Sedegi 1: saxelmwifo

resursebis marTvis

gaumjobeseba.

mTavari indikatori:

fiskaluri deficiti

arainflaciuri

gziT imgvarad unda

imarTebodes, rom

SenarCundes umTavresi

socialuri samsaxurebis

mxardaWera (2009 wels

arsebuli viTareba:

fiskaluri deficiti 9%-

ia. mizani: am deficitis

TandaTan

Semcireba fiskaluri

mdgradobis Sesabamisad.

socialuri momsaxurebis

wili saxelmwifo biujetSi

2009 wels 36%-s Seadgenda.

mizani: am maCveneblis

realur ricxvebSi

Semcirebis kategoriulad

gamoricxva).

mTavari indikatori:

biujetis momzadeba

samuSaos efeqtianad

Sesrulebis safuZvelze

(arsebuli viTareba:

arsad ar mzaddeba.

mizani: aucileblad

unda momzaddes 5

saministroSi).

umTavresi indikatori:

adgilobrivi mTavrobis

ZiriTadi (arsebiTi)

miRwevebi

fiskaluri deficitis

TandaTanobiTi Semcireba

da imavdroulad


ZiriTadi mimarTulebebis

mxardaWeris gagrZeleba.

saxelmwifo finansebis

marTvis politikis

reformis xedvis miReba.

2011 wlis kanonSi

biujetis Sesaxeb

sainformacio danarTis

saxiT minimum sami

mxarjveli erTeulis

(uwyebis) biujetis

Sesvla, romlebic

Sedegebis miRwevaze iqneba

orientirebuli.

im bankebis uwyveti

finansuri siZliere,

romlebic mxardaWeras

iReben, rac unda

dadasturdes portfelis

regularuli SeswavliTa

da IFC-is moTxovnebis

Sesabamisad.

msoflio bankis jgufis

programa da partniorebi

mimdinare sesxebi:

sajaro seqtoris

finansuri marTvis

proeqti, regionuli

da municipaluri

ganviTarebis proeqtebi.

axali sesxebi:

ganviTarebis politikis

qmedebaTa seria fiskaluri

da sabiujeto politikis

Sesaxeb.

analitikuri da

sakonsultacio

samsaxuri (AAA): qveynis

ekonomikuri memorandumi

zrdis tempis amaRlebis

Sesaxeb. saxelmwifo

xarjebis mimoxilva.

gagrZeldes saxelmwifo

xarjebisa da finansuri

angariSgebis (PEFA), qveynis Sesyidvebis

sistemis Sefasebis (CPA), sabuRaltro aRricxvisa

da auditSi standartebisa

da kodeqsebis Sesruleba.

ZiriTadi saerTaSoriso

partniorebi: IMF-i, EU, ADB-i.

mimdinare sesxebi:

soflis ganviTarebis

proeqti; analitikuri

64 65

sabiujeto sistemis

Seqmna da danergva

(arsebuli viTareba:

arsad ar aris danergili.

mizani: adgilobrivi

TviTmmarTvelobis 69

erTeulis mier am sistemis

gamoyeneba).

Sedegi 2: ZiriTadi

safinanso institutebis

muSaobis gaumjobeseba.

mTavari indikatori: IFC-i

mxars uWers sistemuri

bankebis finansur

gaZlierebasa da maT

mier sesxebis gacemas

(sxvadasxva sabanko

indikatori, maT Soris,

sesxis gacemis doneebi da

uimedo sesxebi).

Sedegi 3: bankis mier

dafinansebul proeqtebSi

meti adamianis dasaqmeba.

mTavari indikatori:

ramdeni axali samuSao

adgili Seiqmneba msoflio

bankis jgufis mier

dafinansebul proeqtebSi

(amJamindeli viTareba

_ 0, samizne maCvenebeli

_ minimum 30,000 kacis

muSaoba TveSi).

regularulad unda

Seiswavlebodes SerCeul

proeqtebSi.

gaumjobesebuli

erovnuli saswavlo

programa dainergeba yvela

klasisaTvis/yvela wlis

jgufebisaTvis.

dauyovneblad

sareabilitacio 7 skolis

reabilitacia 2011

wlisaTvis.

maswavlebelTa

sertificirebis dawyeba

2011 wels.

da sakonsultacio

samsaxuri: finansuri

seqtorisaTvis rCevebis

miwodeba, teqnikuri

daxmareba gadaxdis

sistemaSi, pirveli granti

finansuri seqtoris

Sefasebis gasaZliereblad.

IFC-i: saerTaSoriso

safinanso institutebi

koordinirebulad

moqmedeben, raTa

uzrunvelyofil iqnes

bankebis kapitalis

adekvaturoba

da likviduroba,

sakredito xazebis

arseboba vaWrobisa da

mikrodafinansebisaTvis,

riskisa da uimedo sesxebis

marTvis, agreTve sxva

sabanko produqtebis

Sesaxeb bankebisaTvis

rCevebis miwodeba.


partniorebi: IMF-i,

EBRD-i, ADB-i, OPIC-i, FMO, KfW-i, DEG- i.

mimdinare sesxebi:

regionuli municipaluri

ganviTarebis proeqti,

adgilobrivi gzebi,

gzatkecilebi I, II.

axali sesxebi:

aRmosavleT-dasavleTis

me-3 gzatkecili, kaxeTis

gzebi.

AAA: Sromis bazris

analizi siRatakis

Sefasebisas, krizisis

zegavlena uZravi qonebis

seqtorze.

IFC: axali investiciebi

uZravi qonebis seqtorSi,

konkurentulobis

Seswavla, mcire da

64 65

saSualo sawarmoebis

mxardaWera.

mimdinare: ganaTlebis

APL II; grantebi umaRlesi

ganaTlebisaTvis.

AAA: ganaTlebis seqtoris

Seswavla unar-Cvevebisa

da adamianuri resursebis

ganviTarebis gamovlenis

mizniT.


partniorebi: iaponia,

dania, SvedeTi,

niderlandebis mTavroba, EU, USAID-i, UNICEF-i.

Sedegi 4: ganaTlebis

ukeTesi xarisxi.

mTavari indikatori:

im bavSvTa procenti,

romlebic gaumjobesebuli

erovnuli saswavlo

programis mixedviT

swavloben (2006 wels

arsebuli viTareba _

daaxloebiT 2%-i; mizani

_ minimum 75%-i 2012

wlisaTvis).

Sedegebi me-2 sferoSi:


gaumjobeseba

Sedegi 1: miznobrivi

socialuri daxmarebis

gafarToeba da

efeqtianobis amaRleba.

umTavresi indikatori:

miznobrivi socialuri

momsaxurebiT mosargeble

ukiduresad Raribi

(Rataki) mosaxleobis wili

(2009 wels 30%-i; samizne

maCvenebeli _ minimum

50%-i).

Sedegi 2: jandacvis

momsaxurebis ufro

metad gafarToeba, rac

SesaZlebeli unda gaxdes

biujetis dagegmvis,

gaizardos biujetidan

pirdapir socialur

momsaxurebaze

gamoyofili dafinanseba

(2008 wlidan 2010 wlamde

uzrunvelyofil iqnes

30%-iani zrda).

miznobrivi socialuri

daxmarebis programis

monitoringis angariSi

momzaddes 2009 wlis

bolosaTvis.

samizne jgufis

gansazRvris meqanizmebis

Sesworeba/daregulireba

da miznobrivi socialuri

daxmarebebis mimRebTa

perioduli xelaxali

sertificireba 2010 wels

da Semdeg.

jandacvis mniSvnelovani

klinikebis aSeneba/reabi-

litacia (25 sawoliani

klinika maRalmTian

regionSi, pirveladi

jandacvis mosamzadebeli

centri gorSi).

mimdinare sesxebi:


moqmedebaTa seria.

axali sesxebi: siRaribis

Sefaseba.


partniorebi: UN-i.

mimdinare sesxebi:

pirveladi jandacva

(restruqturizebuli).

axali sesxebi:


qmedebaTa seria jandacvis

sferoSi.

AAA: siRaribis Sefaseba.


partniorebi: gaeros

saagentoebi.

66 67

infrastruqturisa da

sainformacio sistemebis

gaumjobesebis Sedegad.

mTavari indikatori: qveda

ori decilis (kvintilis)

wili subsidirebul

janmrTelobis dazRvevaSi

(2007 wlis sabaziso

maCvenebeli _ 20%-i,

mizani _ 45%-ze meti).

mTavari indikatori:

momsaxurebis ukeT morgeba

Sesabamis jgufebze

jandacvis efeqturi

sainformacio bazis

SeqmniT.

mTavari indikatori:

jandacvis momsaxurebiT

sargeblobis maCvenebeli,

romelic unda Sefasdes

erT sul mosaxleze

ambulatoriuli vizitebis

raodenobiT (2009 wlis

maCvenebeli _ 1.8, samizne

maCvenebeli _ 2.3).

Sedegi 3: municipaluri

momsaxurebis

gaumjobeseba (wyali,

adgilobrivi gzebi da a.S.).

ZiriTadi indikatorebi:

wylis miwodebis

energoefeqtiani

meTodebis SemoRebis

Sedegad weliwadSi

moxmarebuli

eleqtroenergiis (kvt/

saaTi) 20%-iT Semcireba.

yoveldRiurad

milsadeniT miwodebuli

wylis moxmarebis 3-6

saaTiT gazrda.

qalaqebSi gzebis

gaumjobesebis Sedegad

mgzavrobaze daxarjuli

meti eqimis momzadeba/

treningi (proeqtis samizne

maCvenebelia 1000).

2011 wlisaTvis Seqmnilia

HMIS-i – jandacvis

monitoringisa da

sainformacio sistema.

2011 wlisaTvis

ganxorcielebis stadiaSi

unda iyos 41 qveproeqti.

agebulia 700 gamZle saxli

(2009 wlis bolo).

iZulebiT gadaadgilebul

pirTa is dasaxlebebi,

romelTac msoflio

banki uWers mxars,

uzrunvelyofili unda

iyos eleqtroenergiiT,

wyliT da sakanalizacio

sistemiT (2010 wlis bolo).

mimdinare sesxebi:

regionuli da

municipaluri

ganviTarebis proeqtebi,

qalaqebis aliansebis

granti TbilisisTvis.

AAA: municipaluri

momsaxureba.


partniorebi: ADB-i, EBRD-i, MCC-i, KfW-i, GTZ-i, UNDP-i.

mimdinare sesxebi:

regionuli da

municipaluri

ganviTarebis proeqtebi,

iZulebiT gadaadgilebul

pirTaTvis mSvidobis

mSeneblobis granti.

AAA: siRaribis Sefaseba.


partniorebi: UN-i, USAID-i, KfW-i, EC-i.

66 67

drois/avtomobilis

xarjebis 30%-iT

Semcireba.

Sedegi 4: iZulebiT

gadaadgilebul pirTa

gaumjobesebuli

sacxovrebeli pirobebi

da keTildReoba.

mTavari indikatori:

ramdenma adamianma miiRo

sacxovrebeli konfliqtis

Semdgom dasrulebuli

sareabilitacio da

samSeneblo samuSaoebis

Sedegad (2008 wels

arsebuli mdgomareoba _

0, 2009, wlis bolosaTvis

samizne maCvenebeli – 3600).

ZiriTadi indikatori:

garda sacxovrebliT

uzrunvelofisa,

ra mxardaWeras

iReben iZulebiT

gadaadgilebuli pirebi:

mag., eleqtroenergia,

wyali, kanalizacia, Temis

ganviTareba (2009 wels

arsebuli viTareba _ 0).

68 69

CPS-is mizani 2: konkurentulobis amaRleba konfliqtis Semdgomi

ekonomikuri zrdisaTvis

mTavrobis ZiriTadi miznebi:

• saqarTvelos,rogorcregionulisatransportoderefnisrolis

gaZliereba da qveynis SigniT integrirebis SesaZleblobebis gaumjobeseba

(risi Sefasebis sazomic gazrdili satranzito moZraoba iqneba);

• saqarTveloskerZoseqtorisadmikeTilganwyobilibiznesgaremosSeqmna

biznesis ufro swrafi zrdisaTvis (unda Sefasdes ucxouri investiciebis

zrdis tempisa da saSualo da mcire sawarmoTa zrdis tempis mixedviT);

• ufroefeqturidaproduqtiulisasoflo-sameurneoseqtorisSeqmna

(unda Sefasdes sasoflo-sameurneo produqciis eqsportisa da fermis

Semosavlebis zrdis mixedviT);

• ufrometienergousafrTxoebisadaefeqtianobismiRweva(undaSefasdes

warmoebuli da eqsportirebuli energiis raodenobis mixedviT).

ZiriTadi problemebi da barierebi

• transporti:gaumjobnesebaesaWiroebaaRmosavleT-dasavleTisderefans

da sagzao usafrTxoebas, modernizeba ki _ Savi zRvis portebs;

• udidesiprogresiamiRweulibiznesgaremosgaumjobesebisTvalsazrisiT

da es ramdenime seqtoris Semdgomi gaZlierebiT unda SenarCundes (sabaJo,

sagadasaxado);

• finansurisistemakvlavsustia.mciredasaSualobiznessarasakmarisad

miuwvdeba xeli kreditebze, ojaxebs ki – ipoTekur sesxebze;

• energoseqtori:undagaizardoshidroeleqtroenergiisgamoyenebis

potenciali;

• ojaxebs,biznessadafermerebsesaWiroebaTgaumjobesebulimeqanizmebi

stiqiur bunebriv movlenebTan sabrZolvelad;

• soflismeurneoba–saWiroasoflismeurneobisproduqtiulobis

amaRleba, sursaTis sertificirebisa da gadamuSavebis, irigaciis

sistemebis gaumjobeseba, mosavlisa da saqonlis avadobis riskis Semcireba.

68 69

CPS-is Sedegebi,

samoqmedo sferoebi da

miznebi


satransporto

derefnis gaumjobeseba

da integrirebis

SesaZleblobebis gazrda

Sedegi 1: ZiriTad

satransporto

marSrutebze gavlis

droisa da xarjebis

Semcireba.

mTavari indikatori:

tranzitis dro da

avtomobilis xarjebi

sxvadasxva segmentze 25%-

iT Semcirdeba.

(tranzitis dro

rikoTamde da Telavamde

– arsebuli mdgomareoba

da samizne maCveneblebi

axalma proeqtebma unda

gansazRvros).

(tranzitis dro aRaianidan

igoeTamde 2006 wels

udrida 10 wuTs, samizne

maCvenebelia 7 wuTi).

(tranzitis dro igoeTidan

sveneTamde 2007 wels – 19

wuTi, samizne – 12 wuTi).

Sedegi 2: sagzao

usafrTxoebis

gaumjobeseba

mTavari indikatori: 10

000 manqanaze fataluri

avariebis SemTxvevebi (2008

wels arsebuli viTarebiT

– 13.9, samizne maCvenebeli

– 12).

ZiriTadi (arsebiTi)

miRwevebi

_ 400 km gza

reabilitirebuli da

gafarToebulia 2011 wlis

bolosaTvis.

_ warmatebiT

mimdinareobs rikoTis

gvirabis sareabilitacio

samuSaoebi.

_ momzadebulia

koridoris sagzao

usafrTxoebis gegma

da mimdinareobs misi

ganxorcieleba.

_ yovelwliurad

umjobesdeba minimum

10 sarisko adgilis

mdgomareoba.

_ sagzao departamenti

adekavaturad

aris kadrebiT

dakompleqtebuli

da momzadebulia

usafrTxoebis sferoSi.

msoflio bankis jgufis

programa da partniorebi

mimdinare sesxebi:


gzatkecilis

gaumjobeseba 1 da 2,

Sigasaxelmwifoebrivi

da adgilobrivi gzebi;

infrastruqturis wina-

sainvesticio krediti.

axali sesxebi:


mesame gzatkecilis

proeqti, kaxeTis gzebis

proeqti.

AAA: sagzao

departamentis

unarianobis amaRleba,

donorebis koordinacia.

IFC: pirdapiri

investiciebisa da

kerZo-saxelmwifo

seqtoris partniorobis

SesaZleblobebis

gamokvleva transportisa

da lojistikis dargebSi.

IFC-isa da msoflio

bankis subnacionaluri

dafinansebis programis

farglebSi rkinigzisaTvis

mxardaWeris

SesaZleblobis gamokvleva.


partniorebi: ADB-i, JICA, MCC-i.

70 71


biznesis zrdis daCqareba

Sedegi 1: biznesis garemos

mdgradi gaumjobeseba

_ mTavari indikatori:

biznesgaremos

damaxasiaTebeli SerCeuli

indikatorebi. maT Soris:

`gadasaxadebis gadaxdis~

mixedviT `biznesis

warmoebis~ angariSSi

ukeTesi reitingis miRweva

(2009 wels = 110, mizani

_ ukeTesi reitingis

miRweva).

_ ramdeni dRe sWirdeba

importirebasa da

eqsportirebas `biznesis

warmoebis~ angariSidan

(2009 wels: 12 dRe –

eqsportisaTvis, 14 dRe –

importisaTvis, mizani – 10

dRiT Semcireba).

_ `dafinansebaze

xelmisawvdomoba~ –

reitingi BEEPS-is

mixedviT (biznesis

garemosa da sawarmoTa

muSaobis kvleva). 2008

wels arsebuli viTarebiT

firmebis 55%-ma finansebze

xelmisawvdomobis

ararseboba problemad

daasaxela, mizani – es

problemad 40%-ze naklebi

kompaniisTvis unda darCes.

Sedegi 2: mcire

da saSualo

biznessawarmoebisaTvis

meti mxardaWera.

_ umTavresi indikatori:

IFC-is mier mxardaWerili

_ sxvadasxva

biznesindikatoris Sesaxeb

regularuli angariSebis

momzadeba (DB-i, BEEPS-i,

WBI da sxva).

_ 2009 wlis bolos

gadasaxadis yvela

gadamxdelisaTvis

xelmisawvdomi unda iyos

gadaxdis eleqtronuli

sistema.

_ 2009 wlis bolosaTvis

sabaJoze SemoRebul

unda iqnes riskis marTvis

sistema.

komerciuli bankebi

ganaaxleben mcire da

saSualo biznesisaTvis

sesxebis gacemas.

_ Seiqmnas miwodebis 5

qseli.

_ miwodebis qselis

grantebma mxari dauWiron

fermerTa 35 jgufs.

_ proeqtis farglebSi

gaumjobesdes

soflisaTvis

gankuTvnili kreditis

xelmisawvdomoba.

2012 wlisaTvis kaxeTis

regionSi gaumjobesdes 50

km adgilobrivi gza.

axali sesxebi:


moqmedebebi aqcentirebas

axdenen gadasaxadebze,

sabaJoze, vaWrobis

xelSewyobaze.

AAA: rCevebi vaWrobis

sferoSi.

IFC: mcire da saSualo

sawarmoTaTvis gaxsnili

sakredito xazis moqmedeba,

mxardaWera lizingis

dafinansebisaTvis,

sakonsultacio angariSi

sainvesticio garemos

Sesaxeb, sakonsultacio

angariSi korporaciuli

marTvis Sesaxeb.


partniorebi: EBRD-i, CIDA, BP-i.

axali sesxebi:


qmedebebma aqcentireba

moaxdinos sursaTis

usafrTxoebaze; kaxeTis

sagzao proeqti.

mimdinare sesxebi: soflis

ganviTarebis proeqti;

frinvelis gripis proeqti;

Sigasaxelmwifoebrivi da

adgilobrivi gzebi.

AAA: saqarTveloSi

soflis ganviTarebis

dokumenti. damatebiTi

samuSaos Catareba soflad

sainvesticio klimatis

gasaumjobeseblad.

IFC: agrobiznesSi

investiciebis Cadebis

70 71

bankebis portfeli mcire

da saSualo biznesisaTvis

gacemul sesxebze; mizania

krizisamde (2007) arsebul

mdgomareobaSi dabruneba –

anu 750 milioni dolari.

Sedegi 3: gaumjobesebuli

sasoflo-sameurneo

produqcia, testireba da

gayidvebi.

_ umTavresi indikatori:

soflis ganviTarebis

proeqtiT mxardaWeril

sawarmoTa gayidvebis

moculobis gazrda (2008

wels mxardaWerili

iyo 20 sawarmo; mizani:

gaormagdes mxardaWeril

sawarmoTa raodenoba).


kaxeTis regionSi

transportirebaze

daxarjuli drois

Semcireba (arsebuli

viTareba unda Sefasdes

kaxeTis sagzao proeqtis

farglebSi).


sursaTis sertificirebis

meti gamoyeneba sasoflo-

sameurneo produqtebis

eqsportirebis

xelSewyobis mizniT.

_ gaumjobesdes

sursaTis usafrTxoebis

laboratoriebi;

_ kerZo seqtorSi

SemoRebul iqnes

sasursaTo usafrTxoebis

saerTaSoriso

standartebi.

SesaZleblobebis

Seswavla, sakonsultacio

angariSi produqtebis

konkurentulobaze,

sasursaTo usafrTxoebis

standartebi.


partniorebi: EBRD-i, IFAD-i, EU.

72 73

danarTi 2: konsultaciebi CPS-is Sesaxeb

2009 wlis maisis bolos gaimarTa konsultaciebi samoqalaqo sazogadoebis warmo-madgenlebTan, kerZod, arasamTavrobo organizaciebTan, mecnierebTan, moazrovneebTan, kerZo/sabanko seqtoris warmomadgenlebTan da mediasTan. Catarda mTeli rigi prezentaciebi SemoTavazebuli CPS-is Sesaxeb sxvadasxva auditoriis winaSe maTi SeniSvnebisa da komentarebis mosmenis mizniT.

zogadi komentarebi:

auditoria zogadad daeTanxma Sefasebas saqarTveloSi arsebuli rTuli ekonomikuri mdgomareobis Sesaxeb, romelic gamoiwvia agvistos konfliqtma, globalurma krizisma da Sigapolitikurma daZabulobam. yovelive aman Searyia investorebis ndoba da Seaferxa qveynis ganviTareba. auditoriam mxari dauWira bankis mier SemoTavazebul ormag midgomasac, romelic iTvaliswinebs rogorc gadaudebeli problemebis gadaWras, ise konkurentulobis uzrunvelyofas grZelvadian perspeqtivaSi.

amasTan erTad, monawileTa yvela jgufma dadebiTad Seafasa momaval strategiaSi marTvis, rogorc kompleqsuri Temis, Setana. saqarTvelom miaRwia progress korufciis Semcirebasa da ekonomikis liberalizaciaSi. saWiroa dabalanseba da saTanado regulireba. sxva prioritetebSi Sedis komunikaciis gaZliereba da dialogis gaRrmaveba, qonebrivi uflebebis xelSeuxebloba da sasamarTlo sistemis damoukidebloba.

msoflio bankma da sxva donorebma unda ganaxorcielon daxmarebis programebis safuZvliani monitoringi saqarTveloSi (gamWvirvalobis xarisxis gazrdis, informaciis xelmisawvdomobis, Zlieri monitoringis da Sefasebis sistemis moTxovniT). gansakuTrebiT mniSvnelovania msoflio bankis, rogorc erT-erTi avtoritetuli saerTaSoriso organizaciis, damokidebuleba, aseve sargeblis momtania misi fiduciaruli kontroli. msoflio bankma unda gaaZlieros urTierTobebi da dialogi mTavrobis gareTac.

komentarebi seqtorebis mixedviT:

satransporto infrastruqtura: monawileebi SeTanxmdnen, rom satransporto infrastruqtura mniSvnelovania saqarTvelos ganviTarebisTvis; Tumca imgvari sakiTxebi, rogorebicaa gzebis xarisxis monitoringi da moZraobis usafrTxoeba, saTuT midgomas saWiroebs. rac Seexeba moZraobis usafrTxoebas, arsebobs evrokavSiris standartebi, romlebic saqarTveloSic SeiZleba dainergos.

energosistema da garemo: monawileebi SeTanxmdnen, rom stabiluri energomomaragebis uzrunvelyofam mTavrobas sasikeTo Sedegebi moutana. energoefeqtianobis programebis mxardaWera uaRresad mniSvnelovania qveynisTvis.

soflis ganviTareba: monawileebma aqtiurad dauWires mxari mosazrebas, rom am sferoSi ufro metis gakeTebaa saWiro, radgan eqsporti da sasoflo-sameurneo warmoeba ar izrdeba ise swrafad, rogorc importi. samuSao Zalis 50%-i dakavebulia soflis meurneobis sferoSi, ase rom, es mniSvnelovani seqtoria. aRiniSna fermebis masStabebis gazrdis, marketingis gaZlierebis da infrastruqturis gaumjobesebis saWiroeba, bostneulis Sesanaxi sawyobebis mSeneblobis CaTvliT.

jandacva/socialuri sfero: uzarmazari mniSvneloba eniWeba jandacvis menejmentis gaumjobesebas. saWiroa ufro xSirad Catardes profesiuli treningi

72 73

personalisTvis, sazogadoeba informirebul unda iyos dadebiTi mxareebisa da meTodebis Sesaxeb. marTalia, gazrdilma pensiebma garkveuli wvlili Seitana siRaribis SemcirebaSi, magram meti efeqtis momcemi iqneboda TSA–s (miznobrivi socialuri daxmareba) ufro morgebuli dafinanseba.

ganaTleba: ganaTlebis reforma yvelaze aqtualuri Temaa qveyanaSi. miuxedavad zogadi ganaTlebis sistemaSi Setanili mravali siaxlisa, saSualo skolebSi mudmivad dgas Sesabamisi saswavlo saxelmZRvaneloebis, internetis, swavlebis xarisxis gaumjobesebis saWiroeba. situacia, internetis misawvdomobis TvalsazrisiT, gamosworda, magram warmoiSva misi Semcvelobis (tevadobis) gaumjobesebis saWiroeba. umaRlesi ganaTlebis menejmenti saqarTveloSi moiTxovs Semdgom stabilur ganviTarebas da xarisxis gaumjobesebas.

siRaribis yovelwliuri Sefaseba: monawileebma gakvirveba gamoxates CPS-Si aRniSnuli siRaribis donis gamo – 23.7%, rac gansxvavdeba statistikis departamentis Sefasebisgan. msoflio bankma monawileebs gaacno siRaribis Sefasebis angariSi. maT daadastures, rom angariSi sasargeblo dokuments warmoadgens.

kerZo seqtori: auditoriam aRiara, rom mTavrobas biznesis mimarT ufro dadebiTi ganwyoba gauCnda. garda amisa, globaluri ekonomika da adgilobrivi politikuri situacia investorebs ndobas ukargavs. gamoiTqva SeSfoTeba sagadasaxado da sasamarTlo saqmeebSi mTavrobis Carevisa da politikuri motiviT zogierTi biznesis SesaZlo Seviwroebis gamo, zog sferoSi monopoliebis arsebobis gamoc (magaliTad, farmacevtul bazarze) da aRiniSna mcire da saSualo mewarmeobis mxardaWeris saWiroeba. zogierTma monawilem gamoTqva mosazreba, rom kerZo seqtoris da saxelmwifo seqtoris TanamSromlobam (PPTs) SesaZloa Seamciros saxelmwifo struqturebis angariSvaldebuleba.

finansuri menejmenti: mxardaWeril iqna bankis Zalisxmeva, Seafasos da warmoadginos angariSi saxelmwifo finansebis marTvaSi arsebul progressa da Sesyidvebze. aRiniSna, rom saWiroa gamWvirvalobis gaZliereba korporaciul angariSgebaSi.

vaWroba da investiciebi: gamoiTqva SeSfoTeba imis gamo, rom SesaZlebelia saqarTvelo zedmetad damokidebuli gaxdes sazRvargareTis qveynebidan Semosul daxmarebasa da investiciebze. saWiroa, rom mTavroba adgilobrivi menejmentiT daexmaros adgilobrivi biznesis zrdas. aRiniSna agreTve savaWro sistemebis ganviTarebis da saqarTvelos Sesaxeb informaciis uzrunvelyofis saWiroeba vaWrobisa da investiciebis xelSewyobis mizniT.

samSeneblo seqtori: situacia rTulia imis gamo, rom samuSao Zala 40%–iT Semcirda (profesionali kadrebis CaTvliT), SeCerda aqtiuri gayidvebi. garda amisa, aRiniSna, rom adrindeli investiciebi ufro metad aqtivebis SeZenaze iyo koncentrirebuli, vidre samuSao adgilebis Seqmnasa da produqtiulobaze. xazi gaesva Senobebis rekonstruqciis saWiroebas (Senobebis 80%–i rekonstruqcias saWiroebs).

sabanko seqtori: gamoiTqva SeSfoTeba saprocento ganakveTebis gamo, romlis donem 20%–s miaRwia. es imiT aixsneba, rom bankebs didi procentis (daaxloebiT 12%–is) gadaxda uxdebaT depozitebze. aRiniSna depozitebis mimarT ndobis amaRlebisa da adgilobrivi kapitaluri bazrebis ganviTarebis saWiroeba. sxva problemebs Sorisaa: i) kreditebis gacemis SezRudva; ii) likvidurobis nakleboba, iii) uimedo valebi.

74 75

danarTi 3: mosalodneli progresi MDG-is farglebSi

mizani 1: ukiduresi siRaribis aRmofxvra.

mizani 2: sayovelTao dawyebiTi ganaTlebis uzrunvel-yofa.

axlandeli mdgomareoba

2007* wels siRaribis donem 23.7 %-i Seadgina.

2007 wels dawyebiTi ganaTleba miiRo Sesabamisi asakobrivi jgufis 92 %-ma**; Catarda muSaoba xarisxis gasaumjobe-seblad.

MDG–is dagegmili maCveneblebi

mizani 1: 2015 wlisTvis siRaribis zRvars qvemoT mcxovrebi mosaxleobis wilis ganaxevreba.mizani 2: 2015 wlisTvis daubalansebeli kvebis mqone mosaxleobis wilis ganaxevreba.mizani 3: konfliqtis Sedegad iZulebiT gadaadgilebulTa da stiqiuri ubedurebebis Sedegad dazaralebulTa socialuri da ekonomikuri reabilitacia da samoqalaqo integracia.

mizani 4: 2015 wlisTvis sayovelTao dawyebiTi ganaTlebis donis SenarCuneba; saSualo ganaTlebis 12–wlian ciklze gadasvla; saskolo ganaTlebis xarisxis Sefasebis saerTaSoriso sistemebSi gawevrianeba; instituciuri Sesabamisobis uzrunvelyofa ganaTlebis Tanamedrove sistemebTan.mizani 5: 2015 wlisTvis umaRlesi saswavlo dawesebulebebis akreditirebis sistemis SemoReba; instituciuri Sesabamisobis miRweva umaRlesi ganaTlebis Tanamedrove sistemebTan.mizani 6: profesiuli swavlebis daxvewa 2015 wlisTvis samuSao bazris moTxovnebis gaTvaliswinebiT; kerZo

statusi

savaraudod, siRaribe moimatebs 2008/2009 wlebSi, magram Semdeg, 2012/2013 wlisTvis, kvlav Semcirdeba 2007 wlis donemde an – ufro metad.

kontingentis raodenoba kvlav maRali iqneba, TIMSS-is da PIRLS -is Sefasebebis Tanaxmad gaizrdeba xarisxi.

saSualo ganaTleba mTlianad gadasulia 12 wlian ciklze.

74 75

biWebis da gogonebis Tanafardoba dawyebiT da saSualo skolebSi 96 %-i –2007** wels; daculia genderuli Tanasworoba saxelfaso anazRaurebis mimReb TanamSromlebSi.

Cvil bavSvTa sikvdilianobis maCvenebeli yovel 1000 axalSobilze 14–mde Semcirda 2007 *** wels, 2001 wels es maCvenebeli yovel 1000 axalSobilze 20–s utoldeboda.

profesiuli ganaTlebis instituciuri xelSewyobis gaTvaliswineba. mizani 7: inkluziuri da integrirebuli saswavlo programebis moqmedebis uzrunvelyofa 2015 wlisTvis; erovnul saswavlo programebSi inkluziuri swavlebis principebis gaTvaliswineba.

mizani 8: genderuli Tanasworobis uzrunvelyofa daqiravebisas.mizani 9: Tanabari wvdomis uzrunvelyofa politikaSi da menejmentis yvela doneze.

mizani 10: 2015 wlisTvis Cvil bavSvTa sikvdilianobis donis ori mesamediT Semcireba (MDG–is mixedviT, dagegmili maCvenebeli 2015 wlisTvis yovel 1000 cocxladSobilze 7–s unda udrides).

kanonebi da maregulirebeli normebi Tanabrad icavs mamakacebs da qalebs, magram zogjer qalebi realurad naklebad daculebi arian aRsrulebis susti meqanizmebis gamo.

am sferoSi arsebuli progresi MDG–is miznis Sesrulebis SesaZleblobas iZleva. mosalodnelia maCveneblebis Semdgomi gaumjobeseba Raribi mosaxleobisaTvis jandacvis momsaxurebaze gazrdili xelmisawvdomobis gamo.

mizani 3: genderuli Tanaswo-robis xelSewyoba da qalebis gaZliereba.

mizani 4: bavSvTa sikvdili-anobis donis Semcireba.

76 77

2001–2007 wlebSi dedaTa sikvdilianobis maCvenebeli cocxlad Sobis yovel 100,000 SemTxvevaze Semcirda 58.7–dan 15.6–mde.***

aiv infeqciis/Sidsis done dabalia: mosaxleobis 0.1% 2007** wels.

tuberkuloziT daavadebis SemTxveva wlis ganmavlobaSi (2007** wels) 100,000 sul mosaxleze udrida 84.3–s.

racionaluri gamoyenebis integrirebis mizniT miRebuli Zalisxmeva jerjerobiT arasakmarisia.

gaumjobesebul wylis resursebze 2006** wels mosaxleobis 99%–s miuwvde-boda xeli.

mizani 11: 2015 wlisTvis dedaTa sikvdilianobis donis sami meoTxediT Semcireba (MDG–is mixedviT dagegmili maCvenebeli 2015 wlisTvis udris 12.3–s).

mizani 12: 2015 wlisTvis unda SeCerdes aiv virusis/Sidsis gavrceleba da daiwyos misi Semcireba. mizani 13: 2015 wlisTvis unda SeCerdes malariis da sxva ZiriTadi daavadebebis SemTxvevebi da daiwyos maTi Semcireba.

mizani 14: mdgradi ganviTarebis principebis mqone qveynis politikasa da programebTan integrireba da bunebrivi resursebis dakargvis SeCereba.mizani 15: 2015 wlisTvis im adamianTa wilis ganaxevreba, romlebsac usafrTxo sasmel wyalze xeli ar miuwvdebaT.mizani 16: samSeneblo seqtoris saerTaSoriso standartebTan SesabamisobaSi moyvana, municipaluri (socialuri) sakuTrebis komponentis ganviTarebis CaTvliT.

am sferoSi arsebuli progresi MDG–is miznis Sesrulebis SesaZleblobas iZleva. SesaZ-lebelia maCvene-blebis Semdgomi gaumjobeseba Raribi mosa-xleobis jandacvis momsaxurebaze gazrdili xelmisawvdomobis gamo.

saqarTveloSi aiv infeqciis/Sidsis gavrcelebis done ar aris maRali, Tumca man ramdenadme moimata. aRiniSneba gaumjobesebis tendencia malariisa da tuberkulozis mxrivac.

erovnul parkebs profesionalurad uvlian, magram satyeo meurneobis marTva jer kidev ar xorcieldeba miRebuli saerTaSoriso standartebis Sesabamisad, inventarizaciis obieqturad CatarebiT.

mimdinareobs wyliT momaragebis sistemis reabilitacia.

mizani 5: dedaTa janmrTe-lobis gaumjobe-seba.

mizani 6: aiv infeqci-asTan/SidsTan, malaria-sTan da sxva daava-debebTan brZola.

mizani 7: garemos mdgradobis uzrunve-lyofa.

76 77

mizani 17: Ria, wesebze dafuZnebuli, prognozirebadi, aradiskrimi-naciuli savaWro da safinanso sistemis Semdgomi ganviTareba.mizani 18: saqarTvelos valebis problemis safuZvliani mogvareba adgilobrivi da saerTaSoriso masStabiT miRebuli zomebis saSualebiT, raTa grZelvadian perspeqtivaSi valis mdgradobis uzrunvelyofa iqnes SesaZlebeli. mizani 19: qveynis masStabiT sakomunikacio sistemebis gafarToeba, qalaqisa da soflis tipis dasaxlebebs Soris sainformacio teqnologiebSi arsebuli uTanasworobis minimalur donemde Semcireba.

* msoflio bankis 2008 wlis PPA angariSi.** msoflio bankis MDG-is eleqtronuli atlasi.*** saqarTvelos jandacvis sistemis muSaobis Sefasebis 2008 wlis angariSi.**** msoflio ganviTarebis maCveneblebis monacemTa baza, msoflio bankis jgufi, 2008.

mizani 8: globaluri partnio-robis ganviTareba.

2008 wlis oqtomberSi donorebma dades piroba, rom qveyanas sami wlis ganmavlobaSi $4.5 miliards gamouyofdnen.

satelefono xazebi yovel 100 sul mosaxleze udris 20-s,fiWuri kavSirgab. operatorebis abonentebi yovel 100 sul mosaxleze – 51-s, internetis moxmareba yovel100 sul mosaxleze (2007) **** – 21.8-s.

samuSaoebi jerjerobiT gegmis mixedviT mimdinareobs, samuSaoebze xorcieldeba mkacri monitoringi.

78 79

qveynisadmi daxmarebis strategiis (CPS ) standartuli cxrili

danarTebi

78 79

saqarTvelo Tvalis erTi gadavlebiT 6/30/09

evropa da dabali

ganviTarebis mTavari maCveneblebi centr. saSualo saqarTvelo azia Semosavali

(2008)

mosaxleoba, saSualowliuri (milioni) 4.4 446 3,435farTobi (aTasi kv.km.) 70 23,972 35,510mosaxleobis zrda (%) -0.8 0.2 1.0qalaqis mosaxleoba (mTeli mosaxleobis %) 53 64 42

meS (atlasis meTodi, miliardi aSS dolari) 0.0 2,697 6,543meS erT sul mosaxleze (atlasis meTodi, aSS dolari) 2,480 6,052 1,905meS erT sul mosaxleze (Tmu, saerTaSoriso dolari) 4,760 11,262 4,585

mSp zrda (%) 2.1 6.9 10.2mSp erT sul mosaxleze (%) 2.9 6.7 9.1

(ukanaskneli Sefaseba, 2003-2008)

siRaribe: erT sulze dReSi $1.25 (Tmu, %) 13 4 ..siRaribe: erT sulze dReSi $2.00 (Tmu, %) 30 9 ..sicocxlisunarianoba dabadebisas (weli) 71 70 69Cvil bavSvTa sikvdilianoba (1,000 dabadebulze) 39 21 38bavSvTa Soris sakvebis ukmarisoba (% 5 wlamde bavSvebi) .. .. 25

zrdasrulTa wignierebis done, mamakaci(% 15 wlis da ufrosi) .. 99 88zrdasrulTa wignierebis done, qali (% 15 wlis da ufrosi))

.. 96 77sruli dawyebiTi ganaTleba, mamakaci (asakobrivi jgufis %) 95 98 112sruli dawyebiTi ganaTleba, qali (asakobrivi jgufis %) 95 96 109

vargisi wylis wyaros xelmisawvdomoba (mosaxleobis %) 99 95 88vargisi sanitaruli dawesebulebis xelmisawvdomoba

(mosaxleobis %)93 89 55

daxmarebis wminda nakadebi 1980 1990 2000 2008 a

(milioni aSS dolari) Wminda ofocialuri mxardaWera da daxmareba .. 0 169 382umsxvilesi 3 donori (2007 w. ): SeerTebuli Statebi .. 0 75 87avstria .. 0 1 55germania .. 0 19 38

daxmareba (mSp-s %) .. 0.0 5.3 3.7daxmareba erT sul mosaxleze (aSS $) .. 0 36 87

grZelvadiani ekonomikuri tendenciebi

samomxmareblo fasebi (wliuri % cvlileba) .. 3.3 4.1 10.1mSp deflatori (wliuri % cvlileba) 1.0 22.4 4.7 9.9

valutis kursi (saSualo wliuri, lari erT aSS dolarze) . 0.0 2.0 1.5vaWrobis pirobebis indeqsi (2000 = 100)

.. .. 100 881980–90 1990–2000 2000–08

mosaxleoba saSualowliuri (milioni) 5.1 5.5 4.7 4.4 0.7 -1.5 -1.0mSp (milioni aSS dolari) .. 7,738 3,057 12,864 0.4 -7.1 8.1

soflis meurneoba 24.3 31.5 21.9 10.0 .. .. 1.3mrewveloba

a

35.6 33.5 22.4 21.2 .. .. 11.3gadamamuSavebeli mrewveloba 27.9 24.2 9.1 12.0 .. .. 12.5momsaxureba 40.1 35.0 55.7 68.8 .. .. 9.7

Sinameurneobis saboloo moxmareba 55.8 64.8 90.5 84.9 .. 23.1 5.8saxelmwifo moxmareba 13.0 10.2 8.5 14.3 .. 32.1 23.4mTliani kapitalis formireba 29.1 30.7 26.6 30.3 .. 23.6 10.2

saqonlisa da momsaxurebis eqsporti .. 39.9 23.0 28.7 .. 17.6 12.7saqonlisa da momsaxurebis importi .. 45.7 39.7 58.3 .. 14.2 15.1mTliani danazogebi .. .. 9.2 8.1

SeniSvna: kursivis SriftiT mocemuli raodenobebi asaxavs miTiTebuli wlebisgan gansxvavebul monacemebs. 2008 wlis monacemebi winaswaria.

.. gulisxmobs rom monacemebi xelmisawvdomi ar aris.

a. daxmarebis monacemebi 2007 wlis mdgomareobiT.

ganviTarebis ekonomika, ganviTarebis monacemTa jgufi (DECDG).

(saSualo wliuri zrda %)

(mSp-s %)

6 4 2 0 2 4 6

0-4

15-19

30-34

45-49

60-64

75-79

mTeli mosaxleobis procenti

asakobrivi gadanawileba, 2007 w.

mamakaci qali

0

10

20

30

40

50

60

1990 1995 2000 2007

saqarTvelo evropa da centraluri azia

sikvdilianoba 5 wlamde bavSvebSi (1,000 mosaxlidan)

-50

-40

-30

-20

-10

0

10

20

95 05mSp mSp erT sul mosaxleze

mSp zrda da mSp erT sul mosaxleze (%)

80 81

saqarTvelo

sagadamxdelo balansi da vaWroba

2000 2008

(milioni aSS dolari)saqonlis eqsporti, sul (fob) 459 2,426saqonlis importi, sul (cif) 971 6,265 saqonliTa da momsaxurebiT vaWroba, wminda -521 -3,799

mimdinare angariSis balansi -269 -2,862mSp-s % -8.8 -22.2

momsaxureTa gzavnilebi da momuSaveTa anazRaureba(miRebuli) 274 696

rezervebi, oqros CaTvliT 109 1,499

centraluri mTavrobis saxelmwifo finansebi

(mSp-s %) mimdinare Semosavali (grantebis CaTvliT) 15.4 30.7sagadasaxado Semosavali 14.6 24.9mimdinare xarjebi 16.7 28.5

teqnologia da infrastruqtura 2000 2007mTliani proficiti/defociti -1.7 -6.3

dagebuli gzebi (mTeli raodenobis %) 93.4 38.6udidesi zRvruli sagadasaxado ganakveTi (%) sakabelo da mobiluri telefonebi individualuri 20 25 momxmarebeli (100 adamianidan) 15 72korporaciuli 20 15 maRali teqnologiebis produqciis eqsporti

(warmoebuli eqsportis %) 10.8 7.1

sagareo vali da resursebis nakadebi garemo

(milioni aSS dolari)mTliani valis naSTi da Camoricxva 1,638 5,345 sasoflo-sameurneo miwa (miwis farTobis %) 43 43mTliani valis momsaxureba 118 119 tyis farTobi (miwis farTobis %) 39.7 39.7vali patieba – – saxelmwifos mier daculi teritoriebi

(miwis farTobis %)

.. 2.3

mTliani vali (mSp-is %) 53.6 41.5 mtknari wylis resursi erT sulze (kub. metri) 12,600 13,216mTliani valis momsaxureba(eqsportis %) 12.5 3.2 mtknari wylis amoReba (miliardi kub. metri) .. 1.6

pirdapiri ucxouri investiciebi (wminda Semodineba) 131 1,239 CO2-is gamoyofa erT sulze (mt) 0.96 1.1portfelis investiciebi (wminda Semodineba) 0 118

mSp moxmarebuli energiis erTeulze (2005 w. Tmu kg. navTobis ekvivalenti dolarebSi) 3.8 5.2

energiis moxmareba erT sulze

(kg. navTobis ekvivalenti)611 754

msoflio bankis jgufis portfeli 2000 2007

(milioni aSS dolari)

IBRD (rgsb)mTliani valis naSTi Camoricxva 0 0Camoricxva – –ZiriTadi Tanxa gadaxda – –procentebis gadaxda – –

IDA (sga) mTliani valis naSTi Camoricxva 347 885Camoricxva 18 72

kerZo seqtoris ganviTareba 2000 2008 mTliani valis momsaxureba 3 13

biznesis dasawyebad saWiro dro (dReebi) – 3 IFC (ssk) (fiskaluri weli)biznesis dasawyebi xarji (%, meS-is erT sulze) – 4.0 mTliani portfeli, nasty da Camoricxva 2 25sakuTrebis registraciisTvis saWiro dro (dReebi) – 3 aqedan IFC-s sakuTari angariSidan 20 25

Camoricxva IFC-s sakuTari angariSidan 16 2biznesis yvelaze did dabrkolebad miCneuli 2000 2007

(gamokiTxuli menejerebis %, romlebic dasTanxmdnen) IFC-s sakuTari angariSidan portfelis

gayidvebi, gadaxdebi da winaswari gadaxdebi 0 16

ekonomikuri da maregulirebeli politikis

ganusazRvreloba

.. 44.7

antikonkurentuli araformaluri garemo .. 38.2MIGA (migs) mTliani riski 2 0

safondo birJis kapitalizacia (meS-is %) 0.8 13.6 axali garantiebi 0 0

sabanko kapitalis Sefardeba aqtivebTan (%) 30.5 20.4

SeniSvna: kursivis SriftiT mocemuli raodenobebi asaxavs miTiTebuli wlebisgan gansxvavebul monacemebs.

2008 wlis monacemebi winaswaria. .. monacemebi xelmisawvdomi ar aris.

a. daxmarebis Sesaxeb monacemebi 2007 wlis mdgomareobiT.

ganviTarebis ekonomika, ganviTarebis monacemTa jgufi (DECDG).

6/30/09...

0 25 50 75 100

korufciis kontrolireba kanoniereba

maregulirebeli xarisxi

politikuri stabiluroba

xmis ufleba da pasuxismgebloba

Country's percentile rank (0-100)higher values imply better ratings

2007

2000

saxelmwifo maCveneblebi, 2000 da 2007

wyaro: Kaufmann-Kraay-Mastruzzi, msoflio banki

ormxrivi, 5

kerZo, 1,312

sga, 995

ssf, 442

sxva mravalmxrivi, 203

rgsb, 0moklevadiani, 0

mTliani sagareo valis grafiki, 2008

milioni aSS dolari

80 81

0

25

50

75

100

125

2000 2002 2004 2006 2007

dawyebiT skolebSi Caricxvis maCvenebeli

dawyebiT da saSualo skolebSi gogonebis Tanafardoba vaJebTan

ganaTlebis maCveneblebi (%)

0

10

20

30

40

50

60

70

80

2000 2002 2004 2006 2007

mavTuliani da mob. telefonebis momxmareblebi internetis momxmareblebi

ikt maCveneblebi (100 mosaxleze)

0

25

50

75

100

1990 1995 2000 2007

saqarTvelo evropa da centraluri azia

wiTelaze acrilTa wili (1 wlis bavSvTa %)

aTaswleulis ganviTarebis miznebi saqarTvelo

1990 – 2015 wlebSi misaRwevi gansazRvruli miznebi

(mocemul TariRTan maqsimalurad miaxloebuli TariRi, +/- 2 weli)amocana 1: siRaribis zRvars qvemoT myofi da daubalansebeli sakvebis racionis

mqone mosaxleobis raodenobis ganaxevreba.

1990 1995 2000 2007

siRaribis zRvars qvemoT myofi mosaxleobis wili dReSi $1,25 (Tmu, mosaxleobis %) .. 4.5 8.7 13.4

siRaribis oficialur zRvars qvemoT myofi mosaxleobis wili (mosaxleobis %) .. .. 52.1 21.3

mosaxleobaSi uRaribesi kvintilis Semosavlis da moxmarebis wili (%) .. .. .. 5.6

daubalansebeli sakvebi racionis mqone mosaxleobis

(5 wlamde bavSvebSi %)

.. .. 3.1 ..

amocana 2: bavSvebisaTvis dawyebiTi ganaTlebis xelmisawvdomobis uzrunvelyofa.

dawyebiT skolebSi Caricxvis maCvenebeli (wminda, %) 97 .. 100 93

dawyebiTi skolis damTavrebis maCvenebeli (Sesabamisi asakobrivi jgufis %) .. 84 101 92

saSualo skolebSi Caricxvis maCvenebeli (mTliani, 95 77 79 90

mozardTa wignierebis maCvenebeli (15-24 w. adamianebis %) amocana 3: ganaTlebis sferoSi genderuli uTanasworobis aRmofxvra

da qalTa uflebebis gazrda.

100 .. 100 ..

dawyebiT da saSualo saswavleblebSi gogonebis vaJebTan Tanafardoba (%) 98 .. 99 99

soflis meurneobis seqtoris garda dasaqmebul qalTa wili (dasaqmebis %) 45 45 41 47

saxelmwifo parlamentSi qalTa mier dakavebuli adgilebis wili (%) .. 7 7 9

amocana 4: xuT wlamde asakis bavSvTa sikvdilianobis ori mesamediT Semcireba

xuT wlamde bavSvTa sikvdilianobis maCvenebeli (1,000 bavSvidan) 47 45 45 32

Cvil bavSvTa sikvdilianobis maCvenebeli (1,000 43 41 41 39

wiTelaze acril erT wlamde asakis bavSvTa wili (erT wlamde asakis bavSvTa %) 16 61 73 86

amocana 5: dedaTa sikvdilianobis maCveneblis Semcireba sami meoTxediT

mSobiareTa sikvdilianobis maCvenebeli (miaxloebuli, 100,000 dabadebulidan) .. .. 32 30

kvalificiuri medpersonalis mier miRebul mSobiarobaTa wili (mTeli raodenobis %) .. .. 96 ..

kontraceptivebis gamoyenebis done (15-49 w. qalebis %) .. .. 41 ..

amocana 6: aiv/Sidsis gavrcelebis SeCereba da ukuprocesis

aiv/Sidsis gavrceleba (15-49 w.) .. .. .. 0.1

tuberkulozis SemTxvevebi (100,000 adamianidan) 38 .. .. 82

tuberkulozis gamovlenis done DOTS strategiis mixedviT (%)amocana 7: mosaxleobis im wilis ganaxevreba, romelsaci mudmivad xeli ar

.. 18 34 79

saqarTvelo

82 83

saqarTvelos socialuri maCveneblebi

ukanaskneli erTi weli igive regioni/saSemosavlo jgufi

evropa da dabali centr. saSualo

1980-85 1990-95 2002-08 azia Semosav.

mosaxleoba mTliani mosaxleoba saSualowliuri(milioni) 5.3 5.0 4.4 445.6 3,434.5

zrdis koeficienti (saSualo wliuri % ganakveTze) 0.8 -1.6 -0.9 0.1 1.1qalaqis mosaxleoba (mTeli mosaxleobis %) 53.8 53.9 52.5 63.6 41.6mTliani Sobadobis koeficienti (Sobadoba erT qalze) 2.3 1.7 1.4 1.7 2.3

siRaribee (mosaxleobis %)

erovnuli maCvenebeli .. .. 21.3 .. ..qalaqiad indeqsi .. .. 20.1 .. ..soflad indeqsi .. .. 22.3 .. ..

Semosavali

meS erT sul mosaxleze (aSS $) .. 510 2,480 6,052 1,905samomxmareblo fasis indeqsi (2000=100) .. 51 174 159 142kvebis produqtebis fasis indeqsi (2000=100) .. .. .. .. ..

Semosavlis/moxmarebis gadanawileba

meS maCvenebeli .. .. 41.0 .. ..qveda kvintilis wili (Semosavlis an moxmarebis %) .. .. 5.6 .. ..zeda kvintilis wili (Semosavlis an moxmarebis %) .. .. 46.4 .. ..

socialuri maCveneblebi

saxelmwifo xarjebi janmrTeloba (mSp-s %) .. .. 1.0 3.6 2.0ganaTleba (meS-s %) .. .. .. 3.6 3.2

dawyebiT skolebSi moswavleTa miRebis maCvenebeli (asakobrivi jgufis %)

mTliani .. 97 93 91 90 mamakaci .. 97 93 92 91 qali .. 97 92 90 90sasmelad vargisi wylis xelmisawvdomoba (mosaxleobis %)

mTliani .. .. 99 95 88 qalaqis .. .. 100 99 96 soflis .. .. 97 88 83imunizaciis maCvenebeli (%12-23 Tvemde bavSvebSi)

wiTela .. 61 86 97 82difteriti

.. 79 78 96 79

daubalansebeli sakvebis racionis mqone mosaxleobis

maCvenebeli (5 wlamde bavSvebSi %).. .. .. .. 25

sicocxlis mosalodneli xangrZlivoba dabadebisas (wlebi)

mTliani 70 70 71 70 69 mamakaci 66 67 67 65 67 qali 74 74 75 74 71sikvdilianoba Cvili (1,000 Sobilidan) 48 41 39 21 385 wlamde (1,000 - dan) 52 45 42 23 50ufrosi (15-59 w.)

mamakaci (1,000 mosaxlidan) 210 195 219 303 197 qali (1,000 mosaxlidan) 94 90 84 125 125

mSobiare (100,000 Sobidan)

.. .. 30 44 300kvalificiuri medpersonalis mier mSobiarobaTa miRebis wili .. .. .. 95 69

qds (CAS) danarTi B5. es cxrili Seqmnilia CMU LDB sistemis meSveobiT. 05/27/09 SeniSvna: 0 an 0.0 aRniSnavs mocemuli erTeulis naxevars an naklebs. skolaSi miReba: sxvaoba 1997 da 1998 wlebis seriebs Soris ISCED76-isISCED97-ad Secvlis gamo. .imunizacia: gulisxmobs 12-23 Tvis bavSvebs, romlebsac CautardaT vaqcinacia erTi wlis asakamde an nebismier dros kvlevis Catarebamde.

82 83

saqarTvelo - ZiriTadi ekonomikuri maCveneblebi

Sefaseba

maCvenebeli 2005 2006 2007 2008 2009 2010 2011 2012

erovnuli angariSebi (mSp-s procentebSi)

mTliani Sida produqti a/ 100 100 100 100 100 100 100 100soflis meurneoba 17 13 11 10 9 10 9 9mrewveloba 27 25 24 21 20 21 20 19momsaxureba 56 62 65 69 70 70 71 72

mTliani moxmareba 84 94 93 99 95 101 100 98mTliani investiciebi ZiriTad saSualebebSi 28 26 26 22 19 20 22 22

saxelmwifo investiciebi 4 5 7 8 9 7 6 6kerZo investiciebi 24 20 19 15 11 14 15 16

eqsporti (saqoneli da momsaxureba) b/ 34 33 31 29 27 31 33 33importi (saqoneli da momsaxureba) 52 57 58 58 50 55 55 54

mTliani Sida danazogi 16 6 7 1 5 -1 0 2mTliani erovnuli danazogi g/ 22 15 14 8 12 7 7 8

sainformacio muxlebi

mTliani Sida produqti 6411 7762 10227 12864 10981 10762 11311 12291(mln aSS dolari, mimdinare fasebi)

meS erT sul mosaxleze (atlasis meTodiT, aSS dola 1320 1670 2090 2480 2600 2700 2700 2830

realuri wliuri zrdis maCveneblebi (%, 1994 wlidan)

mTliani Sida produqti sabazro fasebSi 9.6 9.4 12.3 2.1 -4.0 2.0 4.0 5.0mTliani Sida Semosavali 9.6 9.4 12.3 -0.4 -1.9 2.5 4.5 5.2

realuri wliuri zrdis maCveneblebi erT sul mosaxleze (%, 1994 wlidan)

mTliani Sida produqti sabazro fasebSi 10.7 10.4 13.3 2.9 -3.2 2.9 4.6 4.9mTliani moxmareba 6.9 23.2 11.5 5.7 -2.8 8.9 3.3 3.6kerZo moxmareba 1.2 29.8 1.8 5.3 -4.1 10.6 5.2 3.5

sagadamxdelo balansi (mln aSS dolari)

eqsporti (saqoneli da momsaxureba) 2187 2552 3182 3695 2943 3299 3684 4081saqoneli (FOB) 1472 1667 2088 2426 1708 1911 2154 2394

importi (saqoneli da momsaxureba) 3318 4413 5917 7495 5469 5878 6273 6672saqoneli (FOB) 2687 3686 4984 6265 4448 4797 5126 5421

resursebis balansi -1131 -1861 -2734 -3799 -2525 -2578 -2589 -2591wminda mimdinare transferebi 359 524 689 990 838 873 845 893mimdinare angariSis balansi -709 -1174 -2006 -2924 -1770 -1772 -1800 -1830

wminda kerZo sagareo pirdapiri investiciebi 542 1186 1675 1512 910 1040 1220 1380grZelvadiani sesxebi (wminda) -88 360 113 893 593 484 558 361

oficialuri wyaroebidan -4 -46 12 205 453 493 294 254kerZo wyaroebidan -84 406 102 687 140 -8 264 107

sxva kapitali (wminda, cdomilebis CaTvliT) 346 35 696 469 99 202 125 279rezervebis cvlileba d/ -91 -407 -479 51 168 46 -103 -189

sainformacio muxlebi

resursebis balansi (mSO-s %) -17.6 -24.0 -26.7 -29.5 -23.0 -24.0 -22.9 -21.1realuri wliuri zrdis maCveneblebi (1994 wlidan)

saqonlis eqsporti (FOB) 19.1 4.9 5.2 7.3 -15.0 8.2 8.3 8.7saqonlis importi (CIF) 18.1 27.9 12.2 7.9 -10.2 5.0 3.6 2.7

(gagrZeleba)

faqtiuri prognozi

84 85

saqarTvelo - ZiriTadi ekonomikuri maCveneblebi

(gagrZeleba)

Sefaseba

maCvenebeli 2005 2006 2007 2008 2009 2010 2011 2012

saxelmwifo finansebi (sabazro fasebSi mSp-s %) e/

mimdinare Semosavlebi 23.7 26.1 28.9 30.0 28.5 26.4 26.2 25.3mimdinare xarjebi 20.1 22.2 25.0 28.4 29.8 27.4 25.5 24.0mimdinare proficiti (+)/deficiti (-) 3.6 3.8 3.9 1.5 -1.3 -1.0 0.7 1.3kapitaluri xarjebi 5.9 7.6 9.0 8.6 9.3 6.9 6.3 5.8sagareo dafinanseba 0.2 0.2 0.6 6.2 5.3 5.2 3.2 2.4

monetaruli maCveneblebi

M2/mSp 16.4 19.3 23.4 22.3 22.8 25.2 25.0 25.0zrda, M2 (%) 26.4 39.3 49.6 7.0 -2.0 15.0 8.3 10.3kerZo seqtoris kreditis zrda/ 171.4 414.8 115.7 251.5 -266.1 136.5 229.8 127.3mTliani kreditis zrda (%)

fasebis indeqsebi

saqonlis eqsportis fasebis indeqsi 131.5 141.9 169.0 183.0 151.5 156.7 163.0 166.7saqonlis importis fasebis indeqsi 134.7 144.5 174.2 202.9 160.4 164.7 169.9 174.9saqonlis vaWrobis pirobebis indeqsi 97.6 98.2 97.0 90.2 94.5 95.2 95.9 95.3

realuri saprocento ganakveTebi

8.3 9.2 9.3 10.1 1.8 3.2 4.0 5.0mSp deflatori (%, cvlileba) 7.9 8.5 9.7 9.9 0.0 2.0 5.0 5.0

a/ mSp-s faqtoruli Rirebuleba

b/ GNFS aris "saqoneli da arafaqtoruli momsaxureba"

g/ moicavs wminda transferebs oficialuri kapitaluri grantebis gareSe

d/ moicavs ssf-s resursebis gamoyenebas

e/ konsolidirebuli saxelmwifo biujeti

faqtiuri prognozi

samomxmareblo fasebis indeqsi (%, cvlileba)

84 85

saqarTvelo –riskis ZiriTadi maCveneblebi

realuri miaxloebuli maCvenebeli 2005 2006 2007 2008 2009 2010 2011 2012

mTliani valis naSTi da Camoricxva 1911 2707 3610 5345 6018 6866 7364 7522(mvn) (m aSS $) a/

wminda Camoricxva (m aSS $) a/ 30 -18 90 1050 778 551 330 -54

mTliani valis momsaxureba (mvm) 187 268 181 149 239 279 409 506(m aSS $) a/

vali da valis momsaxurebis (mvm) maCvenebeli

(%)mvn /esm b/ 75.1 88.9 93.3 119.1 164.9 168.4 163.0 151.5mvn /mSp 29.8 34.9 35.3 41.6 54.8 63.8 65.1 61.2mvm/esm 7.4 8.8 4.7 3.3 6.5 6.8 9.1 10.2kSeRavaTiani/mvn 65.3 48.5 39.3 30.4 33.9 36.0 36.5 38.4

IBRD riskianobis maCveneblebi (%)IBRD vm/saxelmwifo vm .. .. .. 0.0 1.2 3.6 3.4 3.1prioritetuli kreditori vm/saxelmwifo vm (%)

48.1 44.8 43.2 61.9 57.8 59.0 65.5 74.4

IBRD vm/esm g/ .. .. .. 0.0 0.1 0.2 0.3 0.3IBRD mvn (m aSS $) d/ 0 0 0 0 60 147 241 321aqedan garantiebis dRevandeli

Rirebuleba (m aSS $) IBRD portfelis wili (%) 0 0 0 0 0 0 0 0IDA mvn (m aSS $) d/ 679 785 885 995 1119 1200 1274 1326

a/. moicavs saxelmwifo da saxelmwifo garantiiT uzrunvelyofil vals, kerZo arauzrunvelyofil, ssf-

isFkreditebisa gamoyenebas da moklevadian wminda kapitals.

b. "esm" aRniSnavs saqonlisa da momsaxurebis eqsports, momsaxureTa gzavnilebis CaTvliT. g/. prioritetuli statusis mqone kreditorebi ganisazRvrebian rogorc IBRD, IDA, mravalmxrivi ganviTarebis

regionaluri bankebi, saerTaSoriso savaluto fondi da saerTaSoriso angariSsworebis banki (BIS).

d/. moicavs garantiebis dRevandel Rirebulebas.

dagegmili

86 87

7/6/2009-is monacemebiT

maCvenebeli 2007 2008 2009

portfelis mimoxilva

moqmedi proeqtebis ricxvia 19 15 11

ganxorcielebis saSualo periodi (wlebi) b 4.4 3.9 3.8problemuri proeqtebis procentuli wili

(raodenobis mixedviT) a, c 5.3 13.3 9.1problemuri proeqtebis procentuli wili

(Rirebulebis mixedviT)a, c 4.9 9.3 3.4

riskis qveS myofi proeqtebis procentuli

wili (raodenobis mixedviT) a, d 5.3 20 9.1

riskis qveS myofi proeqtebis procentuli

wili (Rirebulebis mixedviT)a, d 4.9 10.5 3.4

tranSis odenoba (%) e 33.5 52.9 77.7portfelis marTva

qpmS (CPPR) wlis ganmavlobaSi (diax/ara)

zedamxedvelobis resursi (mTliani aSS $)

zedamxedvelobis saSualo xarji (aSS $/proeqti)

memorandumis punqti FY 80 - dan ukanaskneli 5 FY

OED-s mier Sefasebuli proeqtebis ricxvi 26 8OED-s mier Sefasebuli proeqtebis

Rirebuleba (milioni aSS $) 614 154.1

U an HU xarisxis OED proeqtebis procentuli wili (raodenobis mixedviT) 23.1 37.5

U an HU xarisxis OED proeqtebis procentuli wili (Rirebulebis mixedviT) 34.8 22.7

CAS danarTi B2: saqarTvelo

bankis portfelis Sesrulebisa da marTvis maCveneblebi*

c. ganviTarebis miznebis (DO) U an HU xarisxis proeqtebis procentuli wili da/an Sesrulebis xarisxi (IP).

d. portfelis gaumjobesebis programis Sesabamisad.

* aRniSnavs portfelSi arsebul yvela moqmed proeqts, Disbursement Ratio -s gamoklebiT, romelic moicavs

yvela proeqts, fiskaluri wlis ganmavlobaSi Sewyvetili proeqtebis CaTvliT.

e. wlis ganmavlobaSi gacemuli Tanxebis Sefardeba wlis dasawyisSi bankis portfelis gadauricxav balansTan:

mxolod sainiciativo proeqtebi.

a. rogorc es naCvenebia portfelis wliur angariSSi (mimdinare FY-s gamoklebiT).b. bankis mier saqarTveloSi ganxorcielebuli proeqtebis

saSualo wlovaneba.

* aRniSnavs portfelSi arsebul yvela mowmed proeqts, aTvisebis statusis gamoklebiT, romelic moicavsyvela proeqts, fiskaluri wlis ganmavlobaSi Sewyvetili proeqtebis CaTvliT.

86 87

5/26/2009

fiskaluri

weli proeqtis saTauri milioni aSS $

2010 E-W gzatkecili IMP 3 147.0 *

kaxeTis gzebi 40.0 *

saqarTvelo DPO-1 85

gzatkecilebi - AF 23.0 *

2011-12

sxva 56.0 *

2013 TBD

396

SeniSvna: damatebiT IFC-s indikatiuri sesxi FY10-13 210-360

IBRD/IDA-s mier SemoTavazebuli sesxebis sabaziso programaa

Sedegi 295

mTliani Sedegi

saqarTvelo DPO-2/3 45

Sedegi 101

* IBRD-is indikatiuri sesxis mTliani odenoba - 266 milioni aSS dolari.

88 89

danarTi B3: saqarTvelo: IFC -s sainvestiicciio operaciebis programa

2006 2007 2008 2009*

valdebulebebi (m aSS $) mTeli 35.75 2.48 42.69 223.65

wminda** 35.75 2.48 42.69 223.65

wminda valdebulebebi seqtorebis mixedviT (%)agrobiznesi

saaqcio fondebi

finansuri bazrebi 24.48 100 100 84.51 ZiriTadi mrewveloba 15.49

janmrTeloba da ganaTleba

infrastruqtura 75.52informaciuli teqnologiebi da telekomebi

navTobi, airi, samTo mrewveloba da qimikatebi

Sidasaxelmwifoebrivi dafinanseba

100 100 100 100

wminda valdebulebebi investiciuri

saSualebebis mixedviT (%)aqcia 24.48 100.00 16.83 30.62sesxi 75.52 66.77 57.08

nawilobriv uzrunvelyofili sesxi (sesxis tipi) 16.40 12.30sruli 100 100 100 100

* 30, 2009-is monacemebiT

** mxolod IFC-s sakuTari angariSi

88 89

03/09/2009-ის მონა�ემებითproduqti FY statusi Rirebuleba mimRebi mizani b

ukanaskneli dasrulebuli

finansuri seqtoris Sefasebis

programa G,D,B K,PSaRricxva da auditi ROSC FY07 50 G,D,B,PS K,PS,PDganaTlebis seqtoris SeniSvna FY07 100 G,D,B,PS K,PSsaxelmwifo შesyidvebis Sefaseba FY08 100 G,D,B,PS K,PS,PDსახელმწიფო ხარჯების ფინანსურიანგარიშგებa (PEFA) (evrosabWosTan erTad) FY09 150 G,D,B K,PSukiduresi siRaribis aRmofxvra FY09 200 G,D,B,PS K,PSsaWiroebebis erToblivi Sefaseba (JNA) FY09 400 G,D,B,PS K,PS,PDJNA-is msvlelobis angariSi FY10 100 G,D,B,PS K,PS,PDfinansuri seqtoris gadasaxadebis sistema FY10 100 G,D,B K,PS

mimdinare/dagegmili

qveynis ekonomikuri memorandumi FY10 300 G,D,B,PS K,PS,PD moicavs soflis ganviTarebas FY10 moicavs energetikul strategias FY10"axalgazrduli xmebi" mimdinare 25 pa G,D,B K,PSwliuri siRaribis angariSi mimdinare 100 pa G,D K,PSPER (PEFA-ს ჩათვლით) mimdinare 100 pa G,D,B K,PSfinansuri seqtoris mxardaWera mimdinare 100 pa G,D,B K,PSjanmrTelobis seqtoris teqnikuri

daxmareba (TA) mimdinare 50 pa G,D,B,PS K,PS,PD

konkurentunarianobis xelSewyoba (IFC) mimdinare 100 G,D,B,PS K,PS,PDganaTlebis seqtoris mimoxilva FY11 150 G,D,B,PS K,PS,PDmonitoringis da Sefasebis teqnikuri

daxmareba(TA) FY10-13 50 pa G K,PSkomunikaciebis teqnikuri daxmareba(TA) FY10-13 50 pa G K,PS,PD(PPP) - ze dialogi infrastr.(IFC) FY10-13 100 G,D,B,PS K,PS,PDbiznesklimatis dialogi (IFC) FY10-13 100 G,B,PS K,PS,PDkonsultacia bankebs: NPLs, (IFC) FY10-11 100 G,B,PS K,PS,PDvaWrobis xarisxis da standartebis

gaZliereba FY10-11 30 G,B PSenergiis regulaciis gaumjobeseba FY11 100 G,D,B,PS K,PSJNA-s mimdinareobis angariSi FY10-11 50 pa G,D,B,PS K,PS,PD

buRalteria/angariSი Auditi ROSC FY12 50 G K,PSsoflis klimatisa da momaragebis

jaWvebis investicia FY11-12 50 G,D,B,PS K,PS,PD____________

b. codnis generacia, sazogadoebrivi diskusia, problemis gadaWra.

danarTi B4: saqarTvelo -- arasakredito momsaxureba

FY07 75

a. saxelmwifo, donori, banki, sazogadoebrivi gavrceleba.

90 91

daxuruli

proeqtebi

37

IBR

D/ID

A *su

l gadaricxulia (moqmedi)

170.

00აქ

ედან

ანა

ზღ

აურ

ებუ

ლია

0.00

sul gadaricxulia (daxuruli)

832.

70აქ

ედან

ანა

ზღ

აურ

ებუ

ლია

28.4

3su

l gadaricxulia

(moqmedi + daxuruli)

1,00

2.70

28.4

3

sul darCenilia (moqmedi)

138.

16su

l gadauricxavia

(daxuruli)

1.84

sul darCenilia

(moqmedi + daxuruli )

140.

00

moqmedi pr

oeqtebi

proeqtis saidentif

ikacio

ko

di

proeqtis dasaxel

eba

ganviT

arebis

miznebi

winsvlis done f

iskaluri wel

i IB

RD

IDA

GR

AN

TC

ance

l.U

ndis

b.O

rig.

Frm

Rev

'd

P09

9808

frinvelis gr

ipi

-GE

M

SM

S20

067

5.39

0094

4.37

3902

2P

0982

17

ED

UC

II (A

PL

#2)

S

S20

0715

8.19

8413

6.40

8880

1P

0548

86

eleqtroenergiis bazari

S

S20

0130

.97

5.67

345

-3.2

4226

3-1

.935

48P

0831

10

gzebis gaumjobeseba

SS

2007

190.

0032

32-3

.940

84P

0940

44

gzebis gaumjobeseba

2

SS

2008

5519

.649

67-9

.792

689

P04

0555

jandacvis sfero

S

MS

2003

20.3

9.55

4512

5.49

2384

4-0

.778

16P

0988

50

infrastruqturis winasainvesticio

S

S20

065

1.11

6772

0.65

2980

4-0

.047

02P

0630

81

saxelmwifo finansebis marTva F

M

SM

S20

063

3.09

5816

2.72

5714

22.

16P

1101

26

regionaluri da municip. infrastr..

SS

2009

4028

.878

09-0

.331

075

P07

8544

soflis ganviTareba

M

SM

S20

0510

4.27

414.

0523

288

P08

6277

meorad

i/ad

gil

obr. gzebi

S

S20

0470

2052

.320

98-1

9.55

341

-13.

6838

saboloo Sedegi

7022

5.27

138.

1551

-13.

1540

9-1

4.28

45

Tavdapir

veli raodenoba aSS

$ danaxarjebi a/

sxvaoba

mosalodnelsa da

mimdinares Soris

L

xel

mZRvanelobis Sefaseba

ukanaskneli

PSR

qveynis daxmarebis st

rat

egiisdanarTi

B8

-saqarTvelo

O operaciebis portfel

is(IB

RD

/IDA da gr

antebi)

7/23

/200

9-ი�

��

ნა�ე

�ები

�

90 91

zსაქ

ართ

ველ

ო

თან

ხები

ს გა

ცემი

ს ვა

ლდ

ებუ

ლებ

ები

და

გად

ასარ

იცხი

თან

ხები

2009 wlis 30 ivnisis mdgo

mareobiT

(mil

ioni aSS dolari)

ვა

ლდ

ებუ

ლებ

ები

გად

ასარ

იცხი

თან

ხები

ვა

ლდ

ებუ

ლებ

ის

ამღ

ები

ორ

განი

ზაც

ია

LN

ET

Q

L+Q

E G

T R

M

ALL

A

LL

LN

ET

QL+

QE

GT

ALL

A

LL

ფის

კალ

ურ

ი წე

ლი

შემო

კლებ

ულ

ი დ

ასახ

ელებ

ა

Cmtd

-IF

C Cm

td-

IFC

Cmtd

-IF

C Cm

td-

IFC

Cmtd

-IF

C Cm

td-

IFC

Cmtd

.- Pa

rt

Out

-IFC

O

ut-I

FC

Out

-IFC

O

ut-I

FC

Out

-IFC

O

ut-

Part

20

00/2

003

საქა

რთ

ველ

ოს

ბანკ

ი 51

.36

0 50

.00

0 1.

04

102.

40

0 51

.36

0 50

.00

0 10

1 0.

00

2009

20

08/2

009

ბანკ

ი რ

ესპუ

ბლიკ

ა 35

.0

0 7.

00

0 0

42.0

0 0

35.0

0 0

7.00

0

42.0

0 0.

00

2009

რ

აკიი

ნ ჯ

ორ

ჯია

27

.0

7.70

0

0 0

34.7

0 0

0 0

0 0

0 0.

00

2006

TA

V ჯ

ორ

ჯია

23

.60

0 0

0 0

23.6

0 0

23.6

0 0

0 0

23.6

0 0.

00

1998

/200

0 თ

ი–ბი

–სი

ბანკ

ი

31

.65

31

.48

22

.50

0

0.46

86.0

9 0

0

31.4

3

22.5

0 0

53

.93

0.

00

2002

/200

5 20

06/2

007

2008

/200

9 20

05

თი–

ბი–ს

ი ლ

იზინ

გი

1.15

0

0 0

0 1.

15

0 1.

15

0 0

0 1.

15

0.00

2008

თ

ბილ

ისი

ცენტ

რალ

ი 8.

50

0 0

0 0

8.50

0

0 0

0 0

6.00

0.

00

2004

BT

C მი

ლსა

დენ

ი 13

.61

0 0

0 0

13.6

1 0

0 0

0 0

13.6

1 12

43

მთლ

იანი

პო

რტ

ფელ

ი

191.

87

39.1

8 79

.50

– 1.

50

312.

05

12.4

3 13

0.73

31

.43

79.5

0 –

241.

66

1243

Documents

World Bank Documentdocuments.worldbank.org/curated/en/240221468274493469/pdf/489180... · erToblivi Zalisxmeva ufro metad gaafarToebs Cvens daxmarebas finansur seqtorsa da in-frastruqturaSi,