Georgia’s Finance Minister reveals achievements of past three years

In the past three years Georgia has undergone significant change and achieved many goals, and plans are in place to see the country continue this path of success, says Finance Minister Nodar Khaduri.

At a meeting today with Government representatives and business sector envoys, Khaduri recapped the activities his Ministry had implemented during the past three years.

The Georgian Government for Open Governance project facilitated major changes for Georgia. Within this project Khaduri summarised all the successful reforms the Finance Ministry had implemented between 2013-2015, which aimed to increase budget efficiency and improve transparency.

The Minister said thanks to these and other efforts, Georgia had "steadily improved” its international reputation by making Governmental and financial dealings of the country more transparent.

Results of the Open Budget Survey (OBS) by the International Budget Partnership ranked Georgia 16th in the world based on an analysis of 102 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. The 2015 result for Georgia was a significant improvement on recent years; the last OBS in 2012 ranked Georgia in 33rd place,” Khaduri said.

Improvements to the way the country managed foreign debt, cooperated with international donor organisations, carried out reforms in the tax and customs services were also highlighted by Khaduri today.

The meeting was held at the Marriott Hotel in central Tbilisi.