Publication: Georgia - Public Expenditure and Financial Accountability (PEFA) : Joint World Bank-European Commission Public Financial Management Assessment, Programmatic Public Finance Policy Review
This Public Expenditure and Financial Accountability (PEFA) assessment provides an updated and systematic diagnostic of the Public Financial Management (PFM) system in Georgia and provides mid-2007 as a base line for complementing the Government's efforts to monitor progress in the PFM reforms going forward. This summary presents: (i) an assessment of Georgia's PFM performance in applying the PEFA Performance Measurement Framework structured across six dimensions; (ii) an assessment of the impact of PFM weaknesses; and (iii) an assessment of the institutional framework underpinning the prospects for PFM reform. There are, however, areas in the existing internal and external control system, personnel and payroll, public procurement, and reporting of high quality consolidated financial statements that are in need of continued reform to further enhance the effectiveness of the PFM. It is envisaged that this assessment will contribute to the government reform agenda by highlighting the areas in which reform has succeeded and those in which weaknesses remain. The assessment will also serve the donor community in directing its assistance programs in those areas of public financial management where the Government's PFM strategy can be further strengthened.
“World Bank. 2008. Georgia - Public Expenditure and Financial Accountability (PEFA) : Joint World Bank-European Commission Public Financial Management Assessment, Programmatic Public Finance Policy Review. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/7881 License: CC BY 3.0 IGO.”