The World Bank, with the involvement of the Ministry of Finance of Georgia and the support of the European Union, carried out an assessment of Georgia's Public Expenditure and Financial Accountability (PEFA) and Gender-Focused Public Finance Management (GRPFM). According to the 2022 PEFA Global Report, Georgia continues to maintain its number one status but with an improvement in its performance when compared with 59 countries that have conducted their PEFA assessments using the 2016 PEFA methodology.

"Georgia is currently in first place in the ranking of developing markets and countries with its public finance management system and using the 2016 methodology. This is undoubtedly a very impressive achievement. This is confirmed by other international studies, for example, by the "Open Budget Index", where Georgia ranks first in terms of budget transparency," noted World Bank Regional Director for the South Caucasus, Sebastian Molyneux, on the 2022 State Expenditure and Financial Accountability (PEFA) of Georgia and gender-oriented public At the presentation of GRPFM assessment reports.

• Georgia has a strong performance on the 7 PEFA pillars compared to the average results of 59 countries that have used the 2016 PEFA Framework.
• Georgia’s average for six out of seven pillars was higher than the average score for the ECA region.
• Compared to the eight other PEFA Assessments carried out during or after the COVID-19 Pandemic, Georgia scored higher, on average, across all seven pillars.
• 27 out of 31 (87%) indicators improved or were maintained in 2022 compared to 2018 PEFA scores.

Source: Ministry of Finance of Georgia

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