Georgia: Fiscal Transparency Evaluation

International Monetary Fund

No 2017/291, IMF Staff Country Reports from International Monetary Fund

Abstract: This report evaluates the state of fiscal transparency in Georgia. Georgia has taken important steps to enhance its fiscal transparency practices over the past decade. Fiscal reports have become more comprehensive, with the development of a central government balance sheet and income statement. Fiscal forecasts and budgets have become more forward looking and policy oriented, with the introduction of a four-year medium-term budget framework, formal fiscal objectives, and a program budget classification. In addition, fiscal risk disclosure and analysis have improved dramatically, with the publication of a detailed statement on fiscal risks. At the same time, the evaluation highlights a number of areas where Georgia’s fiscal transparency practices could be further improved.

Keywords: ISCR; CR; execution report; real GDP; annual budget; balance sheet; budget documentation; budget year; expenditure rule; natural resource; LG spending; expenditure measure; State debt rule; guarantee exposure; net present value; end-point expenditure; cash flow; gross revenue; Budget planning and preparation; Budget execution and treasury management; Fiscal risks; Financial statements (search for similar items in EconPapers)
Pages: 70
Date: 2017-09-27
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