Year 2026, Issue 1
Date published27.3.2026
Table of content
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Giga Abuseridze
GEORGIAEU TRADE RELATIONS: THE IMPACT OF THE DEEP AND COMPREHENSIVE FREE TRADE AREA ON ECONOMIC INTEGRATIONSummary: This article examines the trade policy of the European Union within the framework of the Association Agreement, with a focus on the European Union's significant role in Georgia's economic integration. It highlights the establishment... This article examines the trade policy of the European Union within the framework of the Association Agreement, with a focus on the European Union's significant role in Georgia's economic integration. It highlights the establishment of a comprehensive free trade area, which has paved the way for Georgia to gradually align with three of the European Union's four internal market freedoms: the free movement of goods, services, and capital. The author assesses the advantages and challenges of this agreement for Georgia, particularly in terms of trade liberalization and the harmonization of Georgia's trade-related legislation with European Union standards. The study also evaluates the trade protection mechanisms in the Deep and Comprehensive Free Trade Area, the criteria for implementing anti-dumping and anti-subsidy measures, and their potential impact on Georgia's economic development. The final section of the article underscores the World Trade Organiza-tion's pivotal role in Georgia's economic transformation, outlining the prerequi-sites for implementing trade safeguards and comparing the functions and fea-tures of the World Trade Organization with those of the Deep and Comprehensive Free Trade Area Agreement. The author concludes that by fulfilling its obligations under the Association Agreement, Georgia can enhance its attractiveness to foreign investors, foster state institutional engagement in the transformation process, and achieve successful navigation through this complex economic transition. -
Plamen Parushev
EVALUATING MODELS FOR OIL PRICE FORECASTINGKeywords: oil price, Brent, moving averages, trend projection, Monte Carlo simulations, autoregressive models, forecastingSummary: The present study is aimed at forecasting oil prices through the application of several quantitative modelsmoving averages, trend projection, Monte Carlo simulations, and autoregressive models. The analysis covers the period from... The present study is aimed at forecasting oil prices through the application of several quantitative modelsmoving averages, trend projection, Monte Carlo simulations, and autoregressive models. The analysis covers the period from 12 May 2024 to 12 May 2025, using daily-frequency historical data on Brent crude oil prices. For the moving average model, the classical accuracy indicatorsMean Absolute Deviation (MAD), Mean Squared Error (MSE), Root Mean Squared Error (RMSE), and Mean Absolute Percentage Error (MAPE)were calculated and compared. In the case of trend projection, the evaluation was carried out using standard error, relative standard error, and Absolute Percentage Error (APE). For the Monte Carlo simulations and autoregressive models, the emphasis was placed on the process parameters, forecasted values, and confidence intervals, without using the full set of classical error indicators. The obtained results show that moving averages with shorter periods provide lower error, whereas longer periods lead to smoothing but also to a loss of accuracy. Trend projection and Monte Carlo simulations complement the analysis with a broader scenario-based perspective, while autoregressive models demonstrate good predictive performance in short-term forecasting. This highlights the importance of a combined approach in modelling oil price dynamics and provides a basis for more reliable forecasts under conditions of market uncertainty. -
Eric Schöne
DEVELOPING A RESEARCH FRAMEWORK FOR THE EFFICIENT AND SCALABLE DELIVERY OF TEMPORARY QUARTERS WHILE ACCOUNTING FOR COMMON-GOOD ECONOMIC FACTORSKeywords: temporary quarters, public value, social cost-benefit analysis, adaptive governance, nature-based coastal protectionSummary: Temporary quarters (TQ) are structured, time-bound arrangements enabling rapid and legitimate crisis response. Beyond shelter, they support so-cial acceptance, transparency, and transitions toward stable long-term condi-tions.... Temporary quarters (TQ) are structured, time-bound arrangements enabling rapid and legitimate crisis response. Beyond shelter, they support so-cial acceptance, transparency, and transitions toward stable long-term condi-tions. Displacement, climate pressure and infrastructure disruption require tools that connect speed, participation and accountability. The framework integrates social costbenefit analysis, social return metrics and multi-criteria evaluation, highlighting digital twins, design-for-disassembly and nature-based protection. The Thailand 2004 case illustrates how combined technical, institutional and ecological measures enhance welfare, equity and resilience while keeping governance transparent. -
Inna Borozenkova
REGIONAL DISPARITIES IN BANK HOUSING LENDING IN BULGARIAJEL: G21Summary: The subject of research in this article is bank housing lending. Its object is to outline the challenges arising from the existence of regional disparities in housing lending in Bulgaria, the negative consequences stemming from... The subject of research in this article is bank housing lending. Its object is to outline the challenges arising from the existence of regional disparities in housing lending in Bulgaria, the negative consequences stemming from them, and the possibilities for overcoming these problems. The thesis defended in the study is that decisions regarding bank housing lending, the terms of the loans and their accessibility are directly dependent on regional economic development, the real estate market, and the demographic situation in the various regions of the country. -
Oksana Vointseva
STRUCTURAL CHALLENGES AND DEVELOPMENT TRENDS IN GEORGIAS MEDIA MARKET: KEY PLAYERS, MARKET SCOPE, AND BUSINESS MODELSKeywords: Georgia, media market, television advertising, business models, market concentration, platform-mediated news distributionSummary: This article examines Georgias media market between 2020 and 2025, focusing on (i) key market players, (ii) market scope and revenue dynamics, and (iii) business models and stakeholder dependencies. Using desk research of... This article examines Georgias media market between 2020 and 2025, focusing on (i) key market players, (ii) market scope and revenue dynamics, and (iii) business models and stakeholder dependencies. Using desk research of regulatory statistics, annual advertising market reviews, financial transparency monitoring, and information-environment assessments, the study maps how revenues are concentrated among a limited set of national broadcasters while pluralism is maintained through politically affiliated outlets that rely on non-market financing. The findings show that commercial advertising remains structurally decisive for major broadcasters, yet political spending (especially in election cycles), regulatory enforcement capacity, and donor-supported programs shape incentives and editorial alignment. The period features a pandemic-era shock (2020), a policy-driven advertising contraction connected to restrictions on gambling advertising (2022), revenue recovery with pronounced gains among pro-government broadcasters (2023), renewed contraction in mid-2024, and a 2025 consolidation signal marked by the closure of a major opposition-leaning channel. The article concludes that Georgias media market displays persistent political parallelism and mixed funding logics, producing a high-stakes ecosystem where commercial advertisers, state-linked spending, ownership subsidies, and external donor priorities interact with regulatory constraints to shape competitiveness and journalistic autonomy.