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  CREDIT RISK MANAGEMENT: STRATEGIC APPROACHES TO ACCOUNTS RECEIVABLE IN PUBLIC COMPANIES

  The article examines strategic approaches to credit risk management related to accounts receivable in public companies. It analyses the theoretical foundations of credit risk, its role in working capital management, and the main methods for assessing clients� creditworthiness. Key tools such as credit policy, factoring, receivables insurance, and ... The article examines strategic approaches to credit risk management related to accounts receivable in public companies. It analyses the theoretical foundations of credit risk, its role in working capital management, and the main methods for assessing clients� creditworthiness. Key tools such as credit policy, factoring, receivables insurance, and the implementation of ERP systems are presented. Particular attention is given to international and Euro�pean standards for credit risk management, as well as to practical challenges within the Bulgarian context. Based on the analysis, it is concluded that credit risk management should be perceived as a strategic function requiring a comprehensive and integrated approach that combines technology, expertise, and organizational commitment.

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  MODERNIZATION PATHWAYS FOR GEORGIA�S TRANSPORT SECTOR: STRATEGIC CHALLENGES AND REGIONAL PROSPECTS

  This study evaluates Georgia�s logistics potential and examines its prospects for becoming a key regional transport hub. Owing to its strategic geographical location, Georgia enjoys considerable transit advantages; however, infrastructural constraints, tariff-related issues, and geopolitical risks continue to limit the country�s full potential. ... This study evaluates Georgia�s logistics potential and examines its prospects for becoming a key regional transport hub. Owing to its strategic geographical location, Georgia enjoys considerable transit advantages; however, infrastructural constraints, tariff-related issues, and geopolitical risks continue to limit the country�s full potential. The research applies PESTEL analysis to identify the main barriers to regional positioning and outlines strategies for overcoming them. The originality of the paper lies in proposing an integrated framework for enhancing the efficiency of transport logistics through infrastructure modernization, tariff reforms, and the strengthening of international partnerships. The findings emphasize that advancing infrastructure, updating fiscal and tariff policies, and modernizing transport networks are essential steps for consolidating Georgia�s role within regional transport corridors.

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  ECONOMIC DIVERSIFICATION AND INSTITUTIONAL ADAPTATION IN A RENT-BASED ECONOMY: THE CASE OF SAUDI ARABIA

  This article analyzes the political-economic transformation of Saudi Arabia over the past decade, framing it as a unique case of authoritarian modernization, post-rentier economic reform, and global geostrategic adaptation. Based on an interdisciplinary approach integrating theories of the rentier state, institutional inertia, and visionary ... This article analyzes the political-economic transformation of Saudi Arabia over the past decade, framing it as a unique case of authoritarian modernization, post-rentier economic reform, and global geostrategic adaptation. Based on an interdisciplinary approach integrating theories of the rentier state, institutional inertia, and visionary governance, the study traces the kingdom�s main vectors of change: economic diversification through Vision 2030, human capital development and social policy transformation, attempts toward ecological sustainability and climate adaptation, and a redefined foreign policy role in a multipolar global order. The article argues that Saudi Arabia is not merely an example of authoritarian resilience but an emerging model of statehood where legitimacy is grounded in performance, global positioning, and control over transnational flows. At the same time, the article underscores the internal constraints of this transformation, particularly institutional rigidity, social fragmentation, and the absence of political inclusion. This research contributes to ongoing debates on hybrid configurations of economic development, state power, and non-liberal forms of modernity.