Georgia: Technical Assistance Report-Public Investment Management Assessment

November 7, 2018

Preview Citation

Format: Chicago

Georgia: Technical Assistance Report-Public Investment Management Assessment, (USA: International Monetary Fund, 2018) accessed December 22, 2024

Summary

The Government’s decision to strengthen the infrastructure governance through improving the public investment management (PIM) and the public-private partnerships (PPPs) frameworks, is both timely and important. The government has an ambitious public investment agenda, to be implemented both through traditional public investment and with the help of private investors in the form of PPPs. Given the need to preserve fiscal sustainability in a context of limited fiscal space, avoiding inefficiencies and managing fiscal costs and risks arising from infrastructure projects will be crucial for advancing the government’s public investment agenda. The authorities are working on a broad range of public financial management reforms, including improving the PIM framework and the legal and regulatory framework for PPPs and PPAs. Over the last decade, public investment in Georgia has been similar to the average of emerging market economies (EMEs). Since the mid-2000s, public investment accounted, on average, for one third of total investment. Public investment remained volatile, reaching a peak of 8.6 percent of GDP in 2007, declining in the aftermath of large global and regional shocks, and stabilizing at about 5.5 percent of GDP in recent years.

Subject: Budget planning and preparation, Capital spending, Expenditure, Infrastructure, National accounts, Public financial management (PFM), Public investment and public-private partnerships (PPP), Public investment spending

Keywords: Annual budget, Budget planning and preparation, Capital expenditure, Capital spending, Capital stock, Central government, CR, General government Fiscal Balance, Global, Government platform, Infrastructure, Investment spending, ISCR, Monitoring representative, Public investment and public-private partnerships (PPP), Public investment spending, Risk premium

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/306
Stock No:

1GEOEA2018006
ISBN:

9781484383223
ISSN:

1934-7685

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