This is a working note outlining the initial processes behind the SME Test Methodology. It is a notable deliverable part of the Developing an RIA SME Test Methodology for Georgia, while strengthening the capacity of the Government of Georgia to utilize SME RIA tools in practice Project, as funded by the UNDP and led by ISET Policy Institute.
Geostat has published its preliminary estimate of real GDP growth for July 2024, which stands at 13%. In addition, the estimated growth for the first and second quarters of 2024 reached 8.4% and 9.6%, respectively. Consequently, the average real GDP growth from January to August 2024 reached 10%.
As advised by the European partners, in order to restore Georgia's trajectory towards EU membership, it is essential for the country to repeal the recently enacted laws concerning "Transparency of Foreign Influence" and "Protection of Family Values and Minors," as well as to adequately implement the nine requirements set forth by the European Commission for granting of EU candidate status to Georgia.
The U.S. presidential election is one of the most consequential global political events, influencing not only internal American policies but also its relationships with countries worldwide. It has far-reaching implications beyond the American citizenry that affect international partners, including Georgia. As a small, strategically located country in the South Caucasus, Georgia’s economy is deeply intertwined with the geopolitical environment and under the support of key allies like the United States.
The potential outcomes of the 2024 U.S. presidential election are poised to significantly impact Georgia’s economy through various channels. Beyond broader global and regional impacts of US foreign policy course, there are more specific economic aspects including trade, immigration, Foreign Direct Investment (FDI), and exchange rates. Kamala Harris and Donald Trump advocate distinctly different foreign and domestic policies that could shape these factors, ultimately influencing Georgia’s economic trajectory.