{
  "title": "Georgia: Fiscal Transparency Evaluation",
  "publication": "IMF Staff Country Reports, September 27, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274",
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  "summary": "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.",
  "publishDate": "2017-09-27",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview",
      "content": "- This report evaluates the state of fiscal transparency in Georgia.\n- Georgia has taken important steps to enhance its fiscal transparency practices over the past decade.\n- The evaluation highlights both substantial improvements and a number of areas where fiscal transparency practices could be further improved."
    },
    {
      "heading": "Key improvements documented",
      "content": "- Fiscal reports have become more comprehensive, with the development of a central government balance sheet and income statement.\n- Fiscal forecasts and budgets have become more forward looking and policy oriented, with:\n  - the introduction of a four-year medium-term budget framework,\n  - formal fiscal objectives,\n  - a program budget classification.\n- Fiscal risk disclosure and analysis have improved dramatically, with the publication of a detailed statement on fiscal risks."
    },
    {
      "heading": "Areas for further improvement",
      "content": "- The evaluation highlights a number of areas where Georgia’s fiscal transparency practices could be further improved. (Specific areas are identified in the full report.)"
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject: Budget execution and treasury management, Budget planning and preparation, Expenditure, Financial statements, Fiscal risks, Public financial management (PFM)\n- Keywords: annual budget, balance sheet, budget documentation, Budget execution and treasury management, Budget planning and preparation, budget year, cash flow, CR, end-point expenditure, execution report, expenditure measure, expenditure rule, Financial statements, Fiscal risks, gross revenue, guarantee exposure, ISCR, LG spending, natural resource, net present value, real GDP, State debt rule\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274"
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    "Published: September 27, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484321157.002",
    "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.",
    "The evaluation highlights both substantial improvements and a number of areas where fiscal transparency practices could be further improved.",
    "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:",
    "Fiscal risk disclosure and analysis have improved dramatically, with the publication of a detailed statement on fiscal risks.",
    "The evaluation highlights a number of areas where Georgia’s fiscal transparency practices could be further improved. (Specific areas are identified in the full report.)",
    "Subject: Budget execution and treasury management, Budget planning and preparation, Expenditure, Financial statements, Fiscal risks, Public financial management (PFM)",
    "Keywords: annual budget, balance sheet, budget documentation, Budget execution and treasury management, Budget planning and preparation, budget year, cash flow, CR, end-point expenditure, execution report, expenditure measure, expenditure rule, Financial statements, Fiscal risks, gross revenue, guarantee exposure, ISCR, LG spending, natural resource, net present value, real GDP, State debt rule",
    "**Country Report**"
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