IMF Staff Country Reports

Georgia: Technical Assistance Report-Enhancing the Fiscal Rules

Publication Date:

June 1, 2018

Electronic Access:

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Summary:

This Technical Assistance Report discusses the recommendations made by the IMF mission to assist Georgian authorities in enhancing country’s fiscal rules framework. It is recommended that the fiscal rules should consider both the overall objectives and the economic context in which they are applied. In Georgia, this would include: the stated primary objective of fiscal sustainability as well as the need for flexibility to respond to economic shocks; the transitional nature of the Georgian economy; and the intension to gradually move toward the European Union fiscal governance framework. It is also recommended that the fiscal policy targets should factor in potential economic shocks and fiscal risks.

Series:

Country Report No. 2018/132

Subject:

Budget planning and preparation Expenditure Fiscal policy Fiscal risks Fiscal rules Public debt Public financial management (PFM) Public investment and public-private partnerships (PPP)