{
  "title": "Georgia: Technical Assistance Report-State-Owned Enterprises Reform: Progress, Challenges, and Next Steps",
  "publication": "Technical Assistance Reports, May 1, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/05/01/georgia-technical-assistance-report-state-owned-enterprises-reform-progress-challenges-and-575781",
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  "summary": "Over the past decade, Georgia has made significant progress in strengthening the financial oversight, transparency, and fiscal risk management of state-owned enterprises (SOEs), supported by coordinated reforms led by the Ministry of Finance and the Ministry of Economy and Sustainable Development.",
  "sections": [
    {
      "heading": "Executive summary and scope",
      "content": "- Over the past decade, Georgia has made significant progress in strengthening the financial oversight, transparency, and fiscal risk management of state-owned enterprises (SOEs).\n- Reforms were supported by coordinated efforts led by the Ministry of Finance and the Ministry of Economy and Sustainable Development.\n- This technical assistance report:\n  - Takes stock of these reforms.\n  - Assesses remaining gaps.\n  - Outlines priority next steps to further strengthen SOE ownership, governance, and accountability."
    },
    {
      "heading": "Key achievements",
      "content": "- Enhanced fiscal risk disclosure.\n- Introduction of Statements of Corporate Intent.\n- Adoption of the Strategy for the Comprehensive Reform of SOEs to align state ownership and corporate governance with international good practices."
    },
    {
      "heading": "Remaining gaps and challenges",
      "content": "- Need to expand and consistently apply financial oversight across SOEs.\n- Formalization of public service obligations is required.\n- Boards of SOEs need professionalization to improve governance.\n- Completion of the legislative framework underpinning SOE reforms remains outstanding.\n- Objectives of closing gaps: reduce fiscal risks, limit political interference, and improve SOE performance for the benefit of Georgia’s economy."
    },
    {
      "heading": "Policy recommendations and priority next steps",
      "content": "- Expand the scope and consistent application of financial oversight for all SOEs.\n- Formalize public service obligations where applicable to clarify fiscal commitments and accountability.\n- Professionalize SOE boards to strengthen governance and reduce political interference.\n- Complete and implement the legislative framework that underpins the SOE reform agenda to solidify reforms and limit fiscal risks."
    },
    {
      "heading": "Publication and document specifics",
      "content": "- Publication date: May 1, 2026\n- Pages: 61\n- Volume: 2026\n- Issue: 029\n- Series: Technical Assistance Report No. 2026/029\n- DOI: https://doi.org/10.5089/9798229046145.019\n- Stock No: TAREA2026029\n- ISBN: 9798229046145\n- ISSN: 3005-4575\n\nInternational Monetary Fund. Fiscal Affairs Dept. \"Georgia: Technical Assistance Report-State-Owned Enterprises Reform: Progress, Challenges, and Next Steps\", Technical Assistance Reports 2026, 029 (2026).\n\n---\n\n Content in this bundle\n\n- tarea2026029-source-pdf\n  - tarea2026029-source-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - tarea2026029-source-pdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/05/01/georgia-technical-assistance-report-state-owned-enterprises-reform-progress-challenges-and-575781"
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    "Published: May 1, 2026",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798229046145.019",
    "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:",
    "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.",
    "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.",
    "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 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",
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