Publication: Georgia : Public Expenditure and Financial Accountability Assessment 2012
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2013-09
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2013-09
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Georgia has advanced significantly its budgetary and financial managements systems since the previous PEFA assessment Report of 2008. The basic set of systems has been put in place for strategic budget planning, budget formulation and execution. The integrated public financial management system is being implemented and according to the Ministry of Finance (MoF), several key modules are already in place. These include treasury operations, spending institutions, budget preparation, payroll and external and internal debt management modules introduced by the MoF financial analytical service in January 2012. The full launch of the system is expected by the end of 2013. The introduction of international good practice in the budget cycle of the Government is well advanced, including robust systems for budget preparation, adequate chart of accounts, reliable execution (including accounting and reporting,) and sufficient controls. Important progress has been achieved on the front of program-based budgeting, furthering the Government's objective of greater results-focus in fiscal planning. The concept of program-based budgeting was adopted in the 2009 budget code, and significant advances has been made since then, reaching all the way to the full presentation of the 2012 draft budget in program forms to the Parliament of Georgia. Legal framework governing public procurement was further amended, Electronic Government Procurement (E-GP) introduced in 2011, and linked to the Treasury's information system thus providing for full information sharing. All the above reform initiatives were implemented to address the weaknesses identified by 2008 PEFA assessment in such areas as external control system, personnel and payroll, public procurement, and reporting of high quality consolidated financial statements.
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“World Bank. 2013. Georgia : Public Expenditure and Financial Accountability Assessment 2012. © World Bank. http://hdl.handle.net/10986/16793 License: CC BY 3.0 IGO.”
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