annual report on economic and social growth

annual report on economic and social growth Sec. 574. (a) Reporting Requirement.— The President shall submit to the appropriate congressional committees an annual report providing a concise overview of the prospects for economic and social growth on a broad, equitable, and sustainable basis in the countries receiving economic assistance under title II of this Act. For each country, the report shall discuss the laws, policies and practices of that country that most contribute to or detract from the achievement of this kind of growth. The report should address relevant macroeconomic, microeconomic, social, legal, environmental, and political factors and include criteria regarding wage and price controls, State ownership of production and distribution, State control of financial institutions, trade and foreign investment, capital and profit repatriation, tax and private property protections and a country’s commitment to stimulate education, health and human development. (b) Countries.— The countries referred to in subsection (a) are countries— (1) for which in excess of $5,000,000 has been obligated during the previous fiscal year for assistance under sections 103 through 106, chapters 10 and 11 of part I, and chapter 110 STAT. 7504 of part II of the Foreign Assistance of 1961, and under the Support for East European Democracy Act of 1989; or (2) for which in excess of $1,000,000 has been obligated during the previous fiscal year by the Overseas Private Investment Corporation. (c) Consultation.— The Secretary of State shall submit the report required by subsection (a) in consultation with the Secretary of the Treasury, the Administrator of the Agency for International Development, and the President of the Overseas Private Investment Corporation. The report shall be submitted with the annual congressional presentation for appropriations.