Georgia: Technical Assistance Report-State-Owned Enterprises Reform: Progress, Challenges, and Next Steps
Technical Assistance Reports, May 1, 2026
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- Georgia: Technical Assistance Report-State-Owned Enterprises Reform: Progress, Challenges, and Next Steps
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Bibliographic details
- Published: May 1, 2026
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229046145.019
Executive summary and scope
- Over the past decade, Georgia has made significant progress in strengthening the financial oversight, transparency, and fiscal risk management of state-owned enterprises (SOEs).
- Reforms were supported by coordinated efforts led by the Ministry of Finance and the Ministry of Economy and Sustainable Development.
- This technical assistance report:
- Takes stock of these reforms.
- Assesses remaining gaps.
- Outlines priority next steps to further strengthen SOE ownership, governance, and accountability.
Key achievements
- Enhanced fiscal risk disclosure.
- Introduction of Statements of Corporate Intent.
- Adoption of the Strategy for the Comprehensive Reform of SOEs to align state ownership and corporate governance with international good practices.
Remaining gaps and challenges
- Need to expand and consistently apply financial oversight across SOEs.
- Formalization of public service obligations is required.
- Boards of SOEs need professionalization to improve governance.
- Completion of the legislative framework underpinning SOE reforms remains outstanding.
- Objectives of closing gaps: reduce fiscal risks, limit political interference, and improve SOE performance for the benefit of Georgia’s economy.
Policy recommendations and priority next steps
- Expand the scope and consistent application of financial oversight for all SOEs.
- Formalize public service obligations where applicable to clarify fiscal commitments and accountability.
- Professionalize SOE boards to strengthen governance and reduce political interference.
- Complete and implement the legislative framework that underpins the SOE reform agenda to solidify reforms and limit fiscal risks.
Publication and document specifics
- Publication date: May 1, 2026
- Pages: 61
- Volume: 2026
- Issue: 029
- Series: Technical Assistance Report No. 2026/029
- DOI: https://doi.org/10.5089/9798229046145.019
- Stock No: TAREA2026029
- ISBN: 9798229046145
- ISSN: 3005-4575
International Monetary Fund. Fiscal Affairs Dept. "Georgia: Technical Assistance Report-State-Owned Enterprises Reform: Progress, Challenges, and Next Steps", Technical Assistance Reports 2026, 029 (2026).
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