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Prolonged protests and backtrack on EU accession threaten Georgia's economic stability


Published on 2024-12-11 17:01:08 - MSN
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  • By Clare Nuttall in Glasgow Georgia's decision to delay its EU accession progress until 2028, coupled with ongoing mass protests, has cast a shadow over its economic prospects, as pointed out by major Georgian companies and banks,

The article discusses the political and economic turmoil in Georgia due to prolonged protests against a controversial "foreign agents" law, which has led to significant instability. The Georgian government's decision to reintroduce this law, despite earlier withdrawing it due to public backlash, has sparked widespread demonstrations, particularly among the youth, who fear it will derail Georgia's path towards EU integration. Critics argue that the law, which requires organizations receiving more than 20% of their funding from abroad to register as foreign agents, mimics oppressive Russian legislation and could stifle civil society and media freedom. This situation has not only strained Georgia's relationship with the EU, which has expressed concerns over the law's implications for democracy, but also threatens the country's economic stability. The protests have led to economic disruptions, with businesses suffering from decreased consumer activity, and there's a growing concern about the potential for further economic downturn if the political crisis escalates or if EU accession talks are jeopardized.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/prolonged-protests-and-backtrack-on-eu-accession-threaten-georgia-s-economic-stability/ar-AA1vEObd ]