As the Minister of Finance of Georgia Lasha Khutsishvili stated, within the framework of the public finance management reform, the Ministry of Finance of Georgia constantly evaluates the current progress, analyzes it and plans based on it.
"The 2023-2026 public finance management strategy based on the 2022 assessment of the Public Expenditure and Financial Accountability (PEFA) was approved last year.
"Georgia has the best rating among 59 countries evaluated by the PEFA methodology. It is important that the strategy focuses on improving the management of the public finances not only at the central, but also at the municipal level. The new direction of the strategy is to start evaluating the effectiveness of the budget programs," - the Minister of Finance, Lasha Khutsishvili, said.
It should be noted that due to the status of candidacy for the EU membership, Georgia for the first time joined the process of preparing the medium-term program of economic reforms using the methodology developed by the European Commission for candidate countries and submitted the Economic Reform Programme for the period 2024-2026 to the European Commission within the set deadline (January 15, 2024).
The mentioned document is a medium-term expenditure planning tool for the EU candidate countries. The work in this direction will be strengthened in 2024 and the necessary processes will be fully integrated into the existing calendar of the budget cycle.
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