Finance Minister tells Parliament Gov’t continuing further harmonisation with EU regulations

Georgian Finance Minister Lasha Khutsishvili on Wednesday said the Georgian Government continued the process of “further harmonisation” with European Union regulations and added the European Commission’s recommendation for the country to be granted the EU membership candidate status was “another proof” of the progress achieved within the domestic public finance management reform.

Khutsishvili told MPs the Government was preparing the EU Economic Reforms Plan document for the first time using the methodology developed by the bloc for candidate countries. 

He said the reform of internal financial management and control had been carried out over the years through the Harmonisation Centre of the Ministry of Finance, while the tax system of Georgia had been “successfully” developing for years with the principle of maximum compatibility with EU regulations and was “largely harmonised”.

The Minister said the efforts provided for “permanent maintenance of sustainable macro-fiscal parameters” and “strict, but at the same time, efficient and flexible” fiscal discipline.