The Parliamentary Budget Office of Georgia has a long history of existence, though as a result of institutional reforms implemented in 2014 the Parliamentary Budget Office of Georgia was formed as an independent structural unit within the system of the Parliament of Georgia whose main goal is to promote strengthening of Parliamentary oversight over state finance management through independent and impartial analyses of fiscal policy implemented by executive Government and hence, to promote transparent management of state finances and fiscal sustainability in medium and long-term period.
Legislative base regulating the PBO operation got substantially approximated with international practice through the implemented changes. Namely, PBO has shaped into an independent structural unit on the grounds of a Charter approved with Order N95/3 issued by the Chairman of the Parliament of Georgia on August 11, 2014. Guarantees of its independent operation have thus been assured. Organizational structure has been altered to match the functions commonly practiced internationally by independent fiscal institutions.
As a result of the reform the PBO includes three structural units: Unit of Budget Analysis; Unit of Macroeconomic Analysis and Tax Policy; Cost Estimates and Legislative Support Unit.
This report represents implemented activities carried out in 2014 after changes in legislative base corresponding to strategic goals and aims envisaged in the Strategic Development Plan of the PBO. Namely, implemented activities focuses on two core directions: increasing the effectiveness of the PBO work, establishing the parliamentary Budget Office as an independent fiscal institution in existing fiscal framework and institutional capacity.