Role and Functions

 

Parliamentary Budget Office(PBO) is an independent fiscal institution within the system of the Parliament of Georgia, with the main goal to strengthen parliamentary oversight over the public finance management by providing independent and impartial analysis, research and assessment of government's fiscal policies, plans and performance, and consequently, promoting fiscal sustainability for medium/long-term period.

 

The Parliamentary Budget Office of Georgia has a long history of existence. It was originally established in 1997, though has been accountable to the Committee for Budget and Finance of the Parliament of Georgia since 2005. The year 2014 was distinguished with significant changes and challenges for the Budget Office. Significant steps were undertaken towards improvement of the legislative environment underpinning the work of the PBO, and bringing it in compliance with the international better practice. Namely, the referred changes brought the regulatory environment of the PBO close to the OECD Principles for Independent Fiscal Institutions: The Budget Office got established as an independent structural unit, guarantees for independence of its work have been defined and the organizational structure has been changed to comply with internationally accepted practices. After the existing amendments, the Parliamentary Budget Office is accountable only to the supervisory board, headed by the Speaker of the Parliament of Georgia and includes representatives of all factions within the Parliament, which guarantees the independence and objectivity of its activities.

 

 After the reform, in a capacity of the independent fiscal institution with the existing fiscal framework, the Parliamentary Budget Office: 

 

Please see The Statute of the Parliamentary Budget Office of Georgia for the details about the regulatory framework underpinning our work.  

 

 

For further information about the international practice on the functions of the independent fiscal Institutions and relevant international regulatory framework, please see. International Regulatory Framework