30 Jan 2018 - 14:08
Georgia is steadily improving its international reputation by making governmental and financial dealings of the country more transparent.
Results of the Open Budget Survey 2017 (OBS) released today by the International Budget Partnership ranked Georgia 5th in the world out of 82 scores, based on an analysis of 115 nations’ budget transparency, participation and oversight.
Using 109 indicators to measure budget transparency, countries were given a score out of 100 for each category that measured how governments managed public finances.
This is a great success. Each reform and initiative implemented by us is focused on overcoming the current challenges of our country – such as poverty and unemployment. As a result of promotion in this index we will be able to attract more investments to our economy, accelerate Georgia's economic growth and create more job places”, said Georgia’s Finance Minister Mamuka Bakhtadze.
For Georgia, this year’s results revealed improvements over all three categories – transparency, public participation and budget oversight.
In the transparency index, Georgia was found to provide the public with "extensive” transparency and gained a score of 82/100. In order to further improve transparency the International Budget Partnership recommends Georgia to prioritise the following actions:
The report says that "Georgia provides few opportunities for the public to engage in the budget process”. In this category Georgia gained a score of 22 out of 100. The report highlights that Georgia should prioritise the following actions to improve public participation in its budget process:
The report said that "the legislature and supreme audit institution in Georgia provide adequate oversight of the budget”. Georgia gained 74 out of 100. For better results Georgia should follow these recommendations: