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Fiscal Policy Implementation in Georgia Before, During and After Saakashvili Period

Author

Listed:
  • Samadli Imamali
  • Etibar Aslanov
  • Narmin Veliyeva

Abstract

The main purpose of this paper is the review of implications of Georgian fiscal policy and discusses the changes before (until 2004), during (2004-2013) and post Saakashvili (after 2013) period. It is observed that the expansion of fiscal policy was slight prior to Saakashvili?s election, however, it demonstrates highly expansionary work during Saakashvili period which started with decisive role of Rose Revolution in 2003. Since the 2003 Rose Revolution, the Georgian government implemented a number of major institutional reforms which have succeeded in modernizing Georgia?s state institutions, reducing corruption and „formalizing? the fiscal policy. Increased public expenditures, cuts in number of taxes along with increased amount of governmental debts for reconstruction purposes illustrates Saakashvili?s period. What about after Saakashvili? This study helps understand the current and near-term fiscal policy challenges in Georgia.

Suggested Citation

  • Samadli Imamali & Etibar Aslanov & Narmin Veliyeva, 2019. "Fiscal Policy Implementation in Georgia Before, During and After Saakashvili Period," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(4), pages 179-185, December.
    • Handle: RePEc:khe:scajes:v:5:y:2019:i:4:p:179-185
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    References listed on IDEAS

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    1. Sam Schueth, 2011. "Assembling International Competitiveness: The Republic of Georgia, USAID, and the Project," Economic Geography, Taylor & Francis Journals, vol. 87(1), pages 51-77, January.
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    More about this item

    Keywords

    Fiscal policy; budget expenditures; tax policy; Georgia; Saakashvili;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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