On 30 June, 2015 within the program "Public Financial Management in the South Caucasus" of Deutsche Gesellschaft fur lnternationale Zusammenarbeit (GIZ) meeting was held between the members and the staff representatives of the Parliament of Georgia, and between the Parliamentary Budget Office of Georgia and the State Audit Office. The meeting was aimed at discussing the issues regarding the role of the Parliamentary Budget Office as an independent fiscal institution and strengthening Parliament's budgetary
On 15-18 June, 2015 the first deputy of Budget and Finance Committee of the Parliament of Georgia Nodar Ebanoidze and the acting head of the Parliamentary Budget Office of Georgia Tatia Khetaguri visited the US Congress and the US Congressional Budget Office with the support of the program "Public Financial Management in the South Caucasus" of Deutsche Gesellschaft fur lnternationale Zusammenarbeit – GIZ. During the visit, meetings were held with representatives of the Congressional Budget Office, including Deputy Director of the Congressional Budget Office Bob Sunshine and the heads and analysts from the Budget Analyses Division, the Macroeconomic Projections Division and the Cost Estimates of Legislation Devision. During the meetings the current reforms of the Parliamentary Budget Office of Georgia and the US Congressional Budget Office experience were discussed. Also, the further cooperation of the Parliamentary Budget Office of Georgia with the US Congressional budget office were agreed.
The Parliamentary Budget Office introduced the "fiscal review" report at the concluding session of the Finance and Budget Committee. "Fiscal Review" aims to analyze fiscal indicators in order to assess the role of fiscal policy in macroeconomic stability promotion process, also to assess fiscal risks and fiscal sustainability in medium- and long-term periods. In particular, dynamics of receipts and payments of consolidated budget level are considered in the document. Based on international practice, core fiscal indicators are assessed; among them structural and cyclically adjusted balance dynamic is introduced, in order to assess the role of fiscal policy in the short-term macroeconomic stability promotion. Effects on medium-term fiscal sustainability is also explored in different case of macroeconomic development.
The International Black Sea University hosted the acting head of the Parliamentary Budget Office of Georgia Ms. Tatia Khetaguri and the head of Macroeconomic Analyses and Tax Policy Unit Mr. Lasha Kavtaradze in May 15, 2015. With the audience the guests discussed the topic "Fiscal Policy, Structure and Core Indicators", considered issues such as fiscal management, fiscal rules (international practice), independent fiscal institutions, methodologies for studying core indicators in order to analyze fiscal policy.
The period of George Jerenashvili headed the Parliamentary Budget Office (PBO) was substantial for the budget office for forming as an independent fiscal institution. Many important reforms were implemented and significant steps were undertaken towards improvement the legislative environment underpinning the work of the PBO and approximation with a better international practice. In particular, Strategic Development Plan of the PBO for 2015-2018 is developed, that reflects the major strategic directions, gradual implementation of which will ensure the establishment of the PBO as an independent fiscal institution in the current fiscal architecture. Format of monthly reporting on the performance of the state budget has been developed within the referred task and monthly reports have been generated on the execution of state budget. Activities have been carried out for preparation of independent mid-term fiscal forecasting by the PBO, which will ensure to practically implementation of the main goal of the PBO – to promote fiscal sustainability. Methodological explanations have been prepared about the actual issues related to fiscal policy and macroeconomic environment. Primary internal policy has been drawn out to improve the financial assessment mechanism of legislative initiatives.
Since April 20, 2015 the Macroeconomic Analysis and Tax Policy Unit will be guided by Lasha Kavtaradze, who is a doctoral candidate in public finances in the direction of macroeconomic at the Università Cattolica del Sacro Cuore in Milan, Italia. He has completed courses in Macroeconomics and state finances conducted by the International Monetary Fund. He has seven years of work experience in the public sector, is invited lecturer at the International Black Sea University and the University of Georgia,
On 16-17 April, 2015 Georgian delegation took part in the 7th annual meeting of the OECD in parliamentary budget offices and independent fiscal institutions group with support of German Agency of International Cooperation (GIZ). Among the delegates were Nodar Ebanoidze - a member of the Parliament of Georgia, Tatia Khetaguri – the head of Unit in Parliamentary Budget Office of Georgia and Inga Sinjikashvili – a representative of German Agency of International Cooperation (GIZ).
Jürgen Schatz, the GIZ expert who is in Georgia under the project of Public Finance Management in the South Caucasus administered by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH has visited the Parliamentary Budget Office. During the meeting the parties have exchanged the ideas and drafted the annual performance report of the Parliamentary Budget Office as well as have worked on improving the communication mechanism with the internal stakeholders.
The supervisory board in line with the regulations of Parliamentary Budget Office (article 8, paragraph 5) has approved the strategic mid-term development plan for 2015-2018 and got aware of the action plan for 2015.
The Head of the Budget Office, George Jerenashvili gave a broad presentation about the mission, core values and the planned actions and events of the office for 2015 and answered the questions raised by the board members and the chair David Usupashvili.
During the December 16-19, 2014 the GIZ expert Jürgen Schatz visited the parliamentary Budget Office in order to support and advice the Office for drafting and streamlining the annual performance report as well as to outline the mechanisms for communications with internal and external stakeholders.