Timothy Grewe, Resident Advisor to the Ministry of Finance, Georgia, from the US Department of the Treasury (on the left)moderated a discussion of PFM reform in Georgia. Papuna Petriashvili, Deputy Minister of Finance, Government of Georgia (centre) and Liana Skhirtladze, Advisor and Coordinator of PFMR Program, Ministry of Finance, Government of Georgia (right), described the reforms in a presentation.Mr. Grewe introduced a remarkable story of public financial management reform and economic growth. Mr. Grewe suggested that the multi-year approach may have enabled this continued reform despite recent conflicts that affected Georgia.
Mr. Petriashvilli described the numerous reforms developed by the Government of Georgia including a multi-year approach, treasury and tax reform. Georgia has moved to support international standards and improve transparency. The Government of Georgia plans to improve fiscal discipline, stability and budget predictability.
Mr. Petriashvilli described how reforms that began with the fall of the Soviet Union stopped in 1998. He suggested that these early reforms were somewhat caused because of a lack of sequencing reform. Mr. Petriashvilli believes that the reforms will be sustainable even if there is a change in government.
Ms. Skhirtladze described the strategic budget reforms and support of Medium Term Expenditure Frameworks (MTEF). This has enabled the Government of Georgia to more strategically reallocate resources to meet medium term goals. Government Financial Statistics (GFS) are used in all levels of government to link budgets with economic classifications. The capacity of the Parliament of Georgia to review budget proposals has improved.
The next steps for sequenced reform for the Government of Georgia were described.
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