Georgia : Public Expenditure and Financial Accountability Assessment 2012
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. Th...
| Main Author: | |
|---|---|
| Format: | Public Expenditure Review |
| Language: | English en_US |
| Published: |
Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/09/18286451/georgia-public-expenditure-financial-accountability-pefa-assessment-2012 http://hdl.handle.net/10986/16793 |
| Summary: | 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. |
|---|