EU-funded public finances project “greatly contributing” to Georgian Parliament’s oversight capability - Parliament Speaker

Georgian Parliament Speaker Shalva Papuashvili on Wednesday said the Government appreciated the contributions of a European Union-funded twinning project for its “significant contribution” to the improvement of the domestic lawmaking body’s oversight and capabilities of its budget office and the Budget and Finance Committee.

Papuashvili was commenting on the project Strengthening Parliamentary Oversight in Public Finances, during an event for the initiative aiming to improve parliamentary oversight in public finances and raise public awareness and involvement in the area.

He also noted the advancements made through reforms carried out over the past 10 years in public finance supervision, budget adoption and implementation, and strengthening of Parliamentary oversight.

The lawmaker called the initiative a “necessary project at the right time”, noting the country was working to establish an institutional system and procedures on a European model and adding the event was a “great opportunity to make connections and share best practices”.

The project is the first such effort financed by the European Union and implemented in the Parliament of Georgia in compliance with the requirements of the Association Agreement signed between the Government and the European Union in 2014.