IMPACT OF PUBLIC PROCUREMENT ON STIMULATING BUSINESS ACTIVITIES AND ECONOMIC DEVELOPMENT

Abstract

Public procurement plays an important role in shaping GDP and it acts as a catalyst for the economy and business as a whole. The role of public procurement is especially growing during crises. The current situation around the world does not meet reliable expectations, therefore, in such a case, the business stops the movement of capital within the increased risk, both locally and internationally. At the same time, ensuring the transparency of public procurement and adapting to international standards is of particular importance for Georgia on the path to European integration. The effectiveness of public procurement is assessed by various factors, at the present stage, mainly economically efficient public procurement is distinguished, as well as procurements focused on innovation and care for the environment.