While developing efficient fiscal rules, some important guiding principles have to be taken into account and one of them is monitoring of fiscal rules compliance.

Monitoring of fiscal rules compliance is a well-established practice in developed countries and aims both to inform interested parties on implementation of fiscal rules and to promote sustainable fiscal policy.
Monitoring of fiscal rules compliance is one of the best practices of assessment carried out by independent fiscal institutions - fiscal councils, budget offices or other agencies.
The present publication addresses the topics of fiscal rules, efficient fiscal rules and the role of independent fiscal institutions in fiscal rules compliance monitoring.
As for international experience, the practice of monitoring of fiscal rules in different countries is described. The last part of the publication addresses the topic of fiscal rules compliance in the time of global pandemic.

For more details, see the complete document (available in Georgian)