The Reporting Policy of the Parliamentary Budget Office of Georgia (PBO, hereinafter) throughout the annual budget cycle is based on the institutional mandate of the PBO in a capacity of an IFI within the existing fiscal architecture as well as the provisions laid down in the Rules of Procedure of the Parliament of Georgia concerning its role in parliament’s budgetary oversight (also considering the relevant provisions of The Budget Code of Georgia).
In particular, for Budgetary Planning/Review
As set out in Articles 136-138 of the Rules of Procedure of the Parliament of Georgia governing the review and approval of the annual state budget law, Parliamentary Budget Office reviews Basic Data and Directions (BDD) Document (MTBF for Georgian fiscal framework) and the draft state budget together with the supporting documents submitted to Parliament (first, revised and final versions). The reviews include analysis of the presented fiscal policy for the short and medium term and PBO’s own alternative macro-fiscal forecasts. As laid down in the Rules of Procedure of the Parliament of Georgia, the review preparation timeline by the PBO is as follows:
- For the first version of the draft state budget (submitted to the Parliament no later than October 1) – within two weeks after the Parliament makes the documents public;
- For the revised version of the draft state budget (submitted to the Parliament no later than November 15) – within three days after the documents are submitted to the Parliamentary Budget Office;
- For the final version of the draft state budget (submitted to the Parliament no later than November 30) – based upon the schedule for the Parliamentary review/hearings.
Furthermore, as set out in the Article 139 of the Rules of Procedure of the Parliament of Georgia, PBO reviews the amendments of the Budget law. The preparation timetable is determined based upon the parliament’s hearings schedule as defined by the Speaker of The Parliament.
For Budget Execution
Parliamentary Budget Office monitors the execution process of the annual budget, so as to avoid the late detection of significant budgetary errors and reports to the Parliament at the following frequencies:
- Monthly reviews – Short reviews of the core developments in budgetary aggregates that rely on the information provided by the State Treasury in accordance with the Article 139 of Budget Code of Georgia. Generally, the PBO monthly reviews are published within 3 working days after the information in received (within 20 days after the end of the month concerned);
- Quarterly reviews – Detailed analysis of the budget execution process covering all major areas of the budget law, to facilitate proper discussion of the Government’s Quarterly Budget Execution Reports submitted to the Parliament in accordance with the Article 139 of Budget Code of Georgia. Generally, the PBO quarterly reviews are published within 3 working days after the Government’s report is submitted to the Parliament (within a month after the end of the quarter concerned), however, in specific circumstances, the publication dates may vary according to the timing of the parliamentary hearings;
- Annual Fiscal Review – The review attempts to provide thorough analysis of the state budget execution as well as the major developments in the fiscal environment as a whole while taking into account existing fiscal rules. Generally, the Review is presented to the Parliament within 2 weeks after the Government’s Annual State Budget Execution Report is submitted to the Parliamentary Budget Office, as laid down in the Article 142 of the Rules of Procedure of the Parliament of Georgia.
Local Governments' Finances
Having regard to the recent fiscal decentralization reforms and the particular consideration that should be given to the local government’s finances to properly capture the main trends in fiscal policy and to ensure that the developments at this level don’t hamper short and medium term fiscal sustainability, PBO produces the Review of the Local Government’s Finances on an annual basis. The report discusses the aggregate level trends as well as specific fiscal indicators at the municipality level. The publication date is generally determined taking into account the timetable for the Parliamentary review of the annual state budget execution.
For the publication dates of our reports throughout 2019, please see The Calendar, 2019 below.
* Due to resource constraints, not all our publications are available in English. However, we try to do our best to ensure that non-Georgian speaking users of our products are provided with at least the summary of all our reports.