Georgia 1st in the world for budget transparency

Georgia is now the highest-ranked country in budget transparency Open Budget Survey 2021 published Tuesday by the International Budget Partnership.

The country’s score has risen by more than 30 points since 2008, with the ranking acknowledging its budget transparency amid the pandemic.

In 2020, as governments strained by the pandemic struggled to operate effectively, Georgia led the world in budget transparency practices, scoring 87 out of 100 in the 2021 OBS. This is a six point increase from the 2019 OBS, reflecting the work of the Ministry of Finance to continue publishing comprehensive and timely budget documents,” the report read.

Picture: OBS.

OBS 2021 highlighted Georgia’s progress in improving its financial management information system, which enabled the country to meet the challenges posed by the pandemic and “the government was well positioned to operate online. when pandemic restrictions forced public servants to work remotely”.

The index also said that “regular coordination” had also “strengthened the country’s fiscal system” and noted that the International Monetary Fund and the European Union had helped prepare

means for Georgia to produce budget documents in line with international standards.

The ranking also notes the challenges that remain on the ground for the country.

“Mechanisms for public participation in the central budget process remain underutilized,” he said, adding that recent improvements have demonstrated that budget accountability in Georgia “is not just a temporary undertaking, but an ongoing commitment to embed good budgeting practices over time that are able to withstand challenges and crises”.

The Ministry of Finance of Georgia explained that the measures taken within the framework of the reform of financial management, in particular the improvement of medium-term planning, the introduction of program budgets, the improvement of the completeness of the reports , the introduction and improvement of electronic public financial management systems and other measures had led to the “success” of the index.

Using 109 indicators to measure budget transparency, countries received a score out of 100 for each category measuring how well governments manage public finances. These indicators assess whether central governments have made eight key budget documents publicly available online in a timely manner and whether these documents present budget information in a comprehensive and useful manner.

The eight documents are the Pre-Budget Statement, Executive’s Budget Proposal, Enacted Budget, Citizens Budget, In-Year Reports, Mid-Year Review, End-of-Year Report. year and the audit report.

The OBS was first released in 2006, with Georgia ranked 30th with 34 points and among the least transparent countries.

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