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The new Georgian government embarked on a liberal economic policy. Tax laws have been simplified, the variety of licenses and permits has been reduced and procedures were simplified. The country started a massive privatization process and investment in infrastructure. The reforms carried out by the government ensured the growth of both economic and investment streams. However, as a result of the Russian aggression in August 2008 and due to the economic crisis, economic activity in Georgia has significantly fallen back. Georgia and the EU have a contractual relationship under the European Neighborhood Policy (ENP), to re-strengthen Georgia’s economy, and an Eastern Partnership Agreement has been signed this year. Similarly an Agreement on Free Trade, signed between Georgia and Turkey this year, is expected to further facilitate Georgia’s economic recovery.

 

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Davit Narmania
Davit Narmania
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From the Desk of the Editor During the COVID-19 pandemic, individuals and governments across the globe have been reminded of the value of human life and the delicacy of human psychology. Societies have been forced to conform to governments’ speedy decisions to prevent the spread of the virus, and individuals—from the most vulnerable to the most well-off —were forced to self-isolate. The isolation...
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