## Georgia: Fiscal Transparency Evaluation

_IMF Staff Country Reports, September 27, 2017_

## Source details

**Canonical URL:** [Georgia: Fiscal Transparency Evaluation](https://www.imf.org/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274/index.md)
- [Structured JSON version](/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274/index.json)
- [Bundle manifest](/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274/bundle-manifest.json)

## Bibliographic details
- Published: September 27, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484321157.002

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### Overview
- 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.

### Key improvements documented
- 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,
  - a program budget classification.
- Fiscal risk disclosure and analysis have improved dramatically, with the publication of a detailed statement on fiscal risks.

### Areas for further improvement
- 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 coverage and keywords
- 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

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr17291.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr17291.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2017/09/27/georgia-fiscal-transparency-evaluation-45274_