2020 Deliverables: How Strong is Strong Enough for Georgian Economy?
In 2016, the EU and the EaP countries agreed on an ambitious agenda to deliver strengthened economies by 2020. In line with this agenda, Georgia has developed an institutional and regulatory framework as foreseen by the Deliverables and has attracted mostly positive marks for its progress on reaching the 2020 Targets. However, in practice, the operational environment for the new regulatory frameworks remains weak and the country struggles to reap the benefits of aligning its laws with the EU. As a result, despite the significant progress Georgia has achieved within the EU’s Eastern Partnership (EaP), its bilateral cooperation with the EU as set out in the EU-Georgia Association Agreement (AA) and the Deep and Comprehensive Free Trade Area (DCFTA), the Georgian economy still faces a number of systemic problems and remains fragile to regional and global shocks. This policy paper reviews the progress made by Georgia on delivering economic strengthening by 2020 and puts forward actionable policy recommendations for Georgia, as well as for the EU.