Georgian Finance Minister: Georgia “proud” to be ranked 1st in world for budget transparency

Georgia is proud to be the top-ranked country on budget transparency internationally, Georgian Finance Minister Lasha Khutsishvili said on Tuesday at the presentation of the Results of the 2021 Open Budget Survey organised by the International Budget Partnership.

The Georgian Ministry of Finance said Khutsishvili had thanked international partners for recognising the progress made by Georgia, and noted the result was achieved despite the limitations associated with the Covid-19 pandemic.

The Georgian Minister said his Government had implemented “serious reforms” in the field of public finance management, as well as fiscal risk management, public sector capital management and local market development. He also highlighted involvement of Georgian citizens in the budget process, which he said remained one of the challenges in “many countries” around the world.

Published by the International Budget Partnership on Tuesday, the Open Budget Survey 2021 ranked Georgia top on budget transparency, with the country's score rising by more than 30 points since 2008.

In 2020, as pandemic-strained governments struggled to operate effectively, Georgia led the world in budget transparency practices, scoring 87 out of 100 in OBS 2021. This is an increase of six points from OBS 2019, reflecting the Ministry of Finance’s work to continue publishing timely and comprehensive budget documents,” the index said.