Analysis of food security and sustainable development of the agricultural sector in Georgia

Abstract

The paper aims to analyze food security and the sustainable development of the agricultural sector in Georgia. The paper examines the development potential of the agricultural sector in Georgia. The following qualitative indicators are discussed: indicators of food self-sufficiency according to the main food products, indicators of compliance of Georgia's food exports with imports, the volume of investments in the agricultural sector and the factors affecting them. Factors affecting the implementation of the food security policy in Georgia, the establishment of agricultural orientation, the realization of the concept of organic agriculture, the increase in profitability, modernization, and financing policy have been analyzed. Econometric analysis of food security has been provided by the multiple logarithmic regression equation, according to which important factors influencing the growth rate of food self-sufficiency ratio were identified, such as the growth rate of agro-food net export's share; the growth rate of investments' shares in agriculture; the growth rate of the share of local agricultural production in the gross domestic product. The paper analyzes the experiences of other countries with better results than those in Georgia regarding food security. The effectiveness of their mechanisms in ensuring food security is studied, and recommendations are given for making changes.