Georgia - Public Expenditure Review : Managing Expenditure Pressures for Sustainability and Growth

Economic growth has rebounded strongly in Georgia during 2010-12 and commendable fiscal consolidation has been implemented, although considerable medium-term macro-fiscal challenges remain. This public expenditure review (PER) considers possible so...

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Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNTING AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET ARREARS ASSET MANAGEMENT ASSET VALUE BALANCE SHEET BANK LENDING BANKING SECTOR BENEFICIARIES BENEFICIARY BUDGET ACCOUNTS BUDGET CODE BUDGET LAW BUDGET PREPARATION BUDGET PROCESS CAPITAL BUDGET CAPITAL BUDGETING CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENTS CENTRAL AGENCIES CENTRAL GOVERNMENT COMPETITIVE BIDDING COMPOSITION OF EXPENDITURES COST EFFECTIVENESS COST-BENEFIT ANALYSIS CREDIT GROWTH CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUSES DEBT BURDEN DEBT LEVELS DEBT RATIO DEBT REPAYMENT DEBT REPAYMENT SCHEDULE DEBT REPAYMENTS DEBT SUSTAINABILITY DECISION-MAKING DEPOSITS DOMESTIC SAVINGS DONOR ASSISTANCE ECONOMIC CLASSIFICATION ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC RECOVERY EMPLOYMENT OPPORTUNITIES EUROBOND EXCHANGE RATE EXPENDITURE PRIORITIES EXPORT SHARE EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL IMBALANCES FINANCE MINISTRY FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTRUMENTS FINANCIAL SECTOR FINANCING REQUIREMENT FISCAL ADJUSTMENT FISCAL ANALYSIS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL COST FISCAL COSTS FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL ENVELOPE FISCAL EXPENDITURE FISCAL FRAMEWORK FISCAL POLICY FISCAL STABILITY FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FRAUD GENERAL REVENUES GLOBAL CAPITAL GOVERNMENT BORROWING GOVERNMENT BUDGETS GOVERNMENT CONSUMPTION GOVERNMENT INVESTMENT GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT GROWTH MODEL GROWTH RATE HEALTH CARE HEALTH EXPENDITURES HEALTH INSURANCE HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING HOUSEHOLDS HUMAN CAPITAL INFLATION INFORMATION SYSTEM INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE EXPENDITURE INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE SERVICES INSTRUMENT INTERNAL CONTROL INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKETS INTERNATIONAL STANDARDS INVESTMENT PROJECTS INVESTMENT PROPOSALS ISSUANCES JOB OPPORTUNITIES KEY CHALLENGE LABOR FORCE PARTICIPATION LIVING STANDARDS LOCAL GOVERNMENT MACROECONOMIC FRAMEWORK MACROECONOMIC MANAGEMENT MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTRY OF FINANCE MONETARY FUND NATIONAL BANK NATIONAL SAVINGS NET LENDING NONPAYMENT OIL PRICES OLD-AGE OLD-AGE INCOME OLD-AGE PENSION OLD-AGE PENSIONS OUTREACH PENSION REFORM PENSION SYSTEM PENSION SYSTEMS POLICY RESPONSE POVERTY REDUCTION PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE DEBT PRIVATE INVESTMENT PRIVATE PENSION PRIVATE SAVINGS PRIVATE SECTOR PRIVATE SPENDING PRIVATIZATION PROGRAMS PUBLIC CAPITAL PUBLIC DEBT PUBLIC EXPECTATIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FUNDING PUBLIC HEALTH PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAMMING PUBLIC SAVINGS PUBLIC SECTOR PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER RATE OF RETURN REAL EXCHANGE RATE RECEIPT RECEIPTS RECURRENT EXPENDITURES REMITTANCES RENEGOTIATION REPAYMENT REPAYMENTS RESERVE RESOURCE CONSTRAINTS ROAD NETWORK RURAL ACCESS SAFETY NET SCHOOL PERFORMANCE SERVICE QUALITY SOCIAL ASSISTANCE SOCIAL BENEFIT SOCIAL BENEFITS SOCIAL EXPENDITURE SOCIAL EXPENDITURES SOCIAL PROGRAMS SOCIAL PROTECTION SOCIAL PROTECTION EXPENDITURES SOCIAL SERVICES STATE BUDGET STATE ENTERPRISES STATE GOVERNMENT STRUCTURAL REFORMS T-BILL TAX TAX BASE TAX POLICY TAX RATES TAX REGIME TAX REVENUES TAX TREATMENT TOTAL EXPENDITURES TOTAL SPENDING TRANSPARENCY UNEMPLOYMENT UNION USE OF RESERVES VOUCHERS
Online Access:	http://documents.worldbank.org/curated/en/2012/11/17097163/georgia-public-expenditure-review-managing-expenditure-pressures-sustainability-growth http://hdl.handle.net/10986/12315

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Summary:	Economic growth has rebounded strongly in Georgia during 2010-12 and commendable fiscal consolidation has been implemented, although considerable medium-term macro-fiscal challenges remain. This public expenditure review (PER) considers possible sources of expenditure pressure that may affect the fiscal consolidation program and suggests options to manage them. This PER presents a number of options for consideration to manage fiscal consolidation, which can contribute toward greater selectivity in capital expenditures, enhanced sustainability of the road investment program, and containing medium-term social expenditure pressures. The rest of this synthesis report is in five chapters. Chapter first summarizes the macroeconomic context and assesses trade-offs associated in balancing the overall composition of public expenditures. The second and third chapters illustrate policy options and implications associated with containing social expenditure pressures and improving effectiveness of health expenditures, respectively. Chapter fourth reviews the international experience in strengthening capital budgeting and provides options for consideration for Georgia. Finally, the fifth chapter discusses options associated with rebalancing road sector expenditures.

Georgia - Public Expenditure Review : Managing Expenditure Pressures for Sustainability and Growth

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