Georgia : fiscal transparency evaluation

Georgia has taken important steps to enhance its fiscal transparency practices over the past decade. Fiscal reports have become more comprehensive, with the development of a central government balance sheet and income statement. Fiscal forecasts and budgets have become more forward looking and policy oriented, with the introduction of a four-year medium-term budget framework (MTBF), formal fiscal objectives, and a program budget classification. In addition, fiscal risk disclosure and analysis have improved dramatically, with the publication of a detailed statement on fiscal risks. As a result of the improvements in fiscal transparency practices, Georgia's Open Budget Index score has improved substantially, from 34 to 66 between 2006 and 2015, with Georgia now being ranked 16 out of the 102 countries surveyed