|
The Economic Liberty Act Of Georgia, 2011
The Economic Liberty Act of Georgia (country), Georgia was adopted by the Parliament of Georgia in 2011. The act was introduced by President Mikheil Saakashvili in September 2009, as a way of enacting principles based on the Rose Revolution. The act has been in force since January 1, 2014. Background The Parliament of Georgia passed The Economic Liberty Act (ELA) in December 2011. Unlike the initial draft, the final act (a constitutional amendment) contained a reservation which states that a separate Organic law, Organic Law should define those cases in which the government will still be able to increase taxes without calling a referendum. The Economic Liberty Act is the Organic Law of Georgia and is based on the 4th and 5th parts of Article 94 of the Constitution of Georgia (country), Constitution of Georgia (Constitutional Law of Georgia No 4033 of July 1, 2011). The act restricted the government from making changes to major economic policy without a popular referendum. It cap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Georgia (country)
Georgia (, ; ) is a transcontinental country at the intersection of Eastern Europe and Western Asia. It is part of the Caucasus region, bounded by the Black Sea to the west, by Russia to the north and northeast, by Turkey to the southwest, by Armenia to the south, and by Azerbaijan to the southeast. The country covers an area of , and has a population of 3.7 million people. Tbilisi is its capital as well as its largest city, home to roughly a third of the Georgian population. During the classical era, several independent kingdoms became established in what is now Georgia, such as Colchis and Iberia. In the early 4th century, ethnic Georgians officially adopted Christianity, which contributed to the spiritual and political unification of the early Georgian states. In the Middle Ages, the unified Kingdom of Georgia emerged and reached its Golden Age during the reign of King David IV and Queen Tamar in the 12th and early 13th centuries. Thereafter, the kingdom decl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stability And Growth Pact
The Stability and Growth Pact (SGP) is an agreement, among all of the 27 member states of the European Union, to facilitate and maintain the stability of the Economic and Monetary Union (EMU). Based primarily on Articles 121 and 126 of the Treaty on the Functioning of the European Union, it consists of fiscal monitoring of members by the European Commission and the Council of the European Union, and the issuing of a yearly recommendation for policy actions to ensure a full compliance with the SGP also in the medium-term. If a Member State breaches the SGP's outlined maximum limit for government deficit and debt, the surveillance and request for corrective action will intensify through the declaration of an Excessive Deficit Procedure (EDP); and if these corrective actions continue to remain absent after multiple warnings, the Member State can ultimately be issued economic sanctions. The pact was outlined by a resolution and two council regulations in July 1997. The first regulati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Georgia (country)
The economy of Georgia is an emerging free market economy. Its gross domestic product fell sharply following the dissolution of the Soviet Union but recovered in the mid-2000s, growing in double digits thanks to the economic and democratic reforms brought by the peaceful Rose Revolution. Georgia continued its economic progress since, "moving from a near-failed state in 2003 to a relatively well-functioning market economy in 2014". In 2007, the World Bank named Georgia the World's number one economic reformer, and has consistently ranked the country at the top of its ease of doing business index. Georgia's economy is supported by a relatively free and transparent atmosphere in the country. According to Transparency International's 2018 report, Georgia is the least corrupt nation in the Black Sea region, outperforming all of its immediate neighbors, as well as nearby European Union states. With a mixed news media environment, Georgia is also the only country in its immediate neighb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2011 In Georgia (country)
Events in the year 2011 in Georgia. Incumbents *President: Mikheil Saakashvili *Prime Minister: Nikoloz Gilauri *Chairperson: Davit Bakradze Events * 4 April - Georgian Airways Flight 834, chartered by the United Nations, crashes in the Democratic Republic of the Congo while trying to land in N'djili Airport in Kinshasa. * 21 May - Anti-government protests against President Saakashvili begin in Tbilisi * 13 November - 2011 South Ossetian referendum * 13 November - 2011 South Ossetian presidential election Arts and entertainment In music: Georgia in the Eurovision Song Contest 2011. Sports Football (soccer) competitions: Umaglesi Liga, Georgian Cup. Births * 27 September - Giorgi Bagration Bagrationi, son of Prince David Bagration of Mukhrani and Princess Anna Bagrationi Gruzinsky Deaths *January 10 — Shota Kviraia, ex-Minister of Interior (1993–1995) and of Security (1995–1997), kidney failure, Moscow. * July 19 — Vakhtang Gogolashvili, writer (born 1932). Referenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2011 In Economics
Eleven or 11 may refer to: *11 (number), the natural number following 10 and preceding 12 * one of the years 11 BC, AD 11, 1911, 2011, or any year ending in 11 Literature *Eleven (novel), ''Eleven'' (novel), a 2006 novel by British author David Llewellyn *''Eleven'', a 1970 collection of short stories by Patricia Highsmith *''Eleven'', a 2004 children's novel in The Winnie Years by Lauren Myracle *''Eleven'', a 2008 children's novel by Patricia Reilly Giff *''Eleven'', a short story by Sandra Cisneros Music *Eleven (band), an American rock band *Eleven: A Music Company, an Australian record label *Up to eleven, an idiom from popular culture, coined in the movie ''This Is Spinal Tap'' Albums *11 (The Smithereens album), ''11'' (The Smithereens album), 1989 *11 (Ua album), ''11'' (Ua album), 1996 *11 (Bryan Adams album), ''11'' (Bryan Adams album), 2008 *11 (Sault album), ''11'' (Sault album), 2022 *Eleven (Harry Connick, Jr. album), ''Eleven'' (Harry Connick, Jr. album), 1992 *El ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Policy In Europe
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Howev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Georgia (country)
The economy of Georgia is an emerging free market economy. Its gross domestic product fell sharply following the dissolution of the Soviet Union but recovered in the mid-2000s, growing in double digits thanks to the economic and democratic reforms brought by the peaceful Rose Revolution. Georgia continued its economic progress since, "moving from a near-failed state in 2003 to a relatively well-functioning market economy in 2014". In 2007, the World Bank named Georgia the World's number one economic reformer, and has consistently ranked the country at the top of its ease of doing business index. Georgia's economy is supported by a relatively free and transparent atmosphere in the country. According to Transparency International's 2018 report, Georgia is the least corrupt nation in the Black Sea region, outperforming all of its immediate neighbors, as well as nearby European Union states. With a mixed news media environment, Georgia is also the only country in its immediate neighb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 19 eurozone members are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The eight non-eurozone members of the EU are Bulgaria, Czech Republic, Croatia, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their own national currencies, albeit all but Denmark are obliged to join once they meet the euro convergence criteria. Croatia will become the 20th member on 1 January 2023. Among non-EU member states, Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins. In addition, Kosovo and Montenegro h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro Convergence Criteria
The euro convergence criteria (also known as the Maastricht criteria) are the criteria which European Union member states are required to meet to enter the third stage of the Economic and Monetary Union (EMU) and adopt the euro as their currency. The four main criteria, which actually comprise five criteria as the "fiscal criterion" consists of both a "debt criterion" and a "deficit criterion", are based on Article 140 (ex article 121.1) of the Treaty on the Functioning of the European Union. Full EMU membership is only open to EU member states. However, the European microstates of Andorra, Monaco, San Marino and the Vatican City, which are not members of the EU, have signed monetary agreements with the EU which allow them officially to adopt the euro and issue their own variant of euro coins. These states had all previously used one of the eurozone currencies replaced by the euro, or a currency pegged to one of them. These states are not members of the eurozone and do not ge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Georgia
The Parliament of Georgia ( ka, საქართველოს პარლამენტი, tr) is the supreme national legislature of Georgia. It is a unicameral parliament, currently consisting of 150 members; of these, 120 are proportional representatives and 30 are elected through single-member district plurality system, representing their constituencies. According to the 2017 constitutional amendments, the Parliament will transfer to fully proportional representation in 2024. All members of the Parliament are elected for four years on the basis of universal human suffrage. The Constitution of Georgia grants the Parliament of Georgia a central legislative power, which is limited by the legislatures of the autonomous republics of Adjara and Abkhazia. History The idea of limiting royal power and creating a parliamentary-type body of government was conceived among the aristocrats and citizens in the 12th century Kingdom of Georgia, during the reign of Queen Tamar, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget Deficits
The government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending. A positive balance is called a ''government budget surplus'', and a negative balance is a ''government budget deficit''. A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. A budget is prepared for each level of government (from national to local) and takes into account public social security obligations. The government budget balance can be broken down into the ''primary balance'' and interest payments on accumulated government debt; the two together give the budget balance. Furthermore, the budget balance can be broken down into the ''structural balance'' (also known as ''cyclically-adjusted balance'') and the cyclical component: the structural budget balance attempts to adjust for the impact of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
_per_capita_in_2020.png "Click for more on -> Economic Policy In Europe")
_in_2014.svg "Click for more on -> Gross Domestic Product")
