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

Summary/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.

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