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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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Foreword Following the violent dissolution of the former Yugoslavia in the 1990s, there had been a shared sense of hope for a more peaceful future for the European continent. Unfortunately, this comfortability disappeared after Russian President Vladimir Putin ordered his troops to march against the Ukrainian forces throughout the border on 24 February 2022. This marked a turning point not only for the...
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