Georgia Public Expenditure Review : Selected Fiscal Issues
Georgia has an impressive growth record but social vulnerabilities persist. It remains a challenge to tackle social vulnerabilities within a sustained macroeconomic framework. This programmatic public expenditure review (PER) assesses the alignment...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24763033/georgia-public-expenditure-review-selected-fiscal-issues http://hdl.handle.net/10986/22259 |
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okr-10986-22259 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
CREDIT PROGRAM INCOME TAX EXEMPTION MONETARY POLICY NATIONAL SAVING EQUIPMENT ACCOUNTING CHECKS WAREHOUSE GOVERNMENT CAPACITIES DISABILITY PENSIONS INTEREST PUBLIC INVESTMENTS GOVERNMENT REVENUES OPTION REMITTANCE DEVELOPING COUNTRIES EXPORTERS REVENUES PORTFOLIO FISCAL POLICY CAPACITY BUILDING LOAN BUDGET CONSTRAINTS GOVERNMENT SUPPORT PUBLIC REGISTRY ALLOCATION OF CREDIT OIL PRICES ALLOCATION OF CAPITAL BENEFICIARY MARKET REFORMS CURRENCY EXPORT GROWTH COMMERCIAL BANK CAPITAL GAINS CAPITAL FORMATION INCOME INEQUALITY MONETARY FUND FINANCIAL INSTITUTIONS DEBT LOCAL GOVERNMENT PUBLIC FINANCE LAND OWNERSHIP CREDIT PROGRAMS CAPITAL INVESTMENTS INVENTORY FISCAL DEFICIT INVESTMENT DECISIONS LAND‐HOLDERS MARKET ECONOMY COMMERCIAL BANK LENDING HUMAN CAPITAL INTEREST PAYMENTS GOOD GOVERNMENT BUDGET TRANSPARENCY MARKET CONDITIONS FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT FIXED CAPITAL GOVERNMENT EXPENDITURE INVESTMENT PROJECTS ISSUANCE LOAN PORTFOLIO TAX RATES COMMERCIAL LOANS INSTITUTIONAL CAPACITY SHARES INVESTMENT CHOICES POLITICAL UNCERTAINTY PUBLIC DEBT TREASURY HOLDINGS INSURANCE CAPITAL GRANTS CURRENCIES MICROFINANCE ECONOMIC DEVELOPMENT FISCAL AUTONOMY TAX CODE BANK LOAN LOAN OFFICERS RATES OF RETURN COMMERCIAL BANKS FINANCIAL SUPPORT CONSUMER PRICE INDEX LENDING TRUST FUND MARKET REFORM PUBLIC SECTOR DEBT GOVERNMENT INVESTMENT INSTITUTIONAL CAPACITIES CAPITAL INVESTMENT PUBLIC SPENDING REMITTANCES LAND HOLDINGS CREDIT HISTORY FISCAL DECENTRALIZATION CREDIT MARKET INVESTING HOUSEHOLD INCOMES LIVING STANDARDS DEFICIT GOVERNMENT EXPENDITURES TAX EXEMPTION VARIABLE COSTS FINANCIAL MANAGEMENT STOCK FISCAL DEFICITS INFORMATION SYSTEM DOMESTIC BORROWING LOAN PERFORMANCE GUARANTEES GOVERNMENT SPENDING INTEREST RATE EXCHANGE LOCAL GOVERNMENTS TAX COLLECTION GOVERNMENT BUDGETING DISABILITY PENSION TAX INCOME TAX REFERENDUM BUDGETING BENEFICIARIES INFLATION PENSION DEVELOPING COUNTRY BANK LENDING BUDGET MATURITY MACROECONOMIC STABILITY FISCAL POLICIES AGRICULTURAL LOAN ACCESS TO FINANCING PERSONAL INCOME TRADING CORPORATE INVESTMENTS TAX EXEMPTIONS INTEREST RATES OPTIONS HOUSEHOLD INCOME PRIVATE INVESTMENT DEFICITS RETURN LENDERS DIRECT INVESTMENT LOANS TAX COLLECTIONS INVENTORIES RESERVES GROSS DOMESTIC PRODUCT CASH TRANSFERS FINANCE PUBLIC INVESTMENT TAXES EXPENDITURE INFRASTRUCTURE INVESTMENT EQUITY INCOME TAXES FOREIGN EXCHANGE RESERVES TAX RATE AGRICULTURAL LOANS CAPITAL GRANT FINANCIAL CRISIS PENSIONS CAPITAL GRANT ALLOCATIONS BUDGETS INTEREST RATE CAPS WORKING CAPITAL CONTRACT GOVERNMENT REVENUE REPAYMENT EXPENDITURES PROPERTY PROPERTIES MARKET FOREIGN EXCHANGE LEVY LAND TITLE MARKET RISKS INFRASTRUCTURE INVESTMENTS GRANT ALLOCATIONS INTERESTS GOODS FIXED ASSETS BANK LOANS SECURITY TRANSFER PAYMENTS INVESTMENT NATIONAL BANK SHARE TAX SYSTEM COLLATERAL INTEREST COSTS POVERTY TANGIBLE ASSETS DECENTRALIZATION REVENUE EXTERNAL DEBT PROFIT INVESTMENTS CHECK INTEREST RATE RISK EXCHANGE RATE INSTRUMENT REPAYMENT RISK GUARANTEE |
| spellingShingle |
CREDIT PROGRAM INCOME TAX EXEMPTION MONETARY POLICY NATIONAL SAVING EQUIPMENT ACCOUNTING CHECKS WAREHOUSE GOVERNMENT CAPACITIES DISABILITY PENSIONS INTEREST PUBLIC INVESTMENTS GOVERNMENT REVENUES OPTION REMITTANCE DEVELOPING COUNTRIES EXPORTERS REVENUES PORTFOLIO FISCAL POLICY CAPACITY BUILDING LOAN BUDGET CONSTRAINTS GOVERNMENT SUPPORT PUBLIC REGISTRY ALLOCATION OF CREDIT OIL PRICES ALLOCATION OF CAPITAL BENEFICIARY MARKET REFORMS CURRENCY EXPORT GROWTH COMMERCIAL BANK CAPITAL GAINS CAPITAL FORMATION INCOME INEQUALITY MONETARY FUND FINANCIAL INSTITUTIONS DEBT LOCAL GOVERNMENT PUBLIC FINANCE LAND OWNERSHIP CREDIT PROGRAMS CAPITAL INVESTMENTS INVENTORY FISCAL DEFICIT INVESTMENT DECISIONS LAND‐HOLDERS MARKET ECONOMY COMMERCIAL BANK LENDING HUMAN CAPITAL INTEREST PAYMENTS GOOD GOVERNMENT BUDGET TRANSPARENCY MARKET CONDITIONS FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT FIXED CAPITAL GOVERNMENT EXPENDITURE INVESTMENT PROJECTS ISSUANCE LOAN PORTFOLIO TAX RATES COMMERCIAL LOANS INSTITUTIONAL CAPACITY SHARES INVESTMENT CHOICES POLITICAL UNCERTAINTY PUBLIC DEBT TREASURY HOLDINGS INSURANCE CAPITAL GRANTS CURRENCIES MICROFINANCE ECONOMIC DEVELOPMENT FISCAL AUTONOMY TAX CODE BANK LOAN LOAN OFFICERS RATES OF RETURN COMMERCIAL BANKS FINANCIAL SUPPORT CONSUMER PRICE INDEX LENDING TRUST FUND MARKET REFORM PUBLIC SECTOR DEBT GOVERNMENT INVESTMENT INSTITUTIONAL CAPACITIES CAPITAL INVESTMENT PUBLIC SPENDING REMITTANCES LAND HOLDINGS CREDIT HISTORY FISCAL DECENTRALIZATION CREDIT MARKET INVESTING HOUSEHOLD INCOMES LIVING STANDARDS DEFICIT GOVERNMENT EXPENDITURES TAX EXEMPTION VARIABLE COSTS FINANCIAL MANAGEMENT STOCK FISCAL DEFICITS INFORMATION SYSTEM DOMESTIC BORROWING LOAN PERFORMANCE GUARANTEES GOVERNMENT SPENDING INTEREST RATE EXCHANGE LOCAL GOVERNMENTS TAX COLLECTION GOVERNMENT BUDGETING DISABILITY PENSION TAX INCOME TAX REFERENDUM BUDGETING BENEFICIARIES INFLATION PENSION DEVELOPING COUNTRY BANK LENDING BUDGET MATURITY MACROECONOMIC STABILITY FISCAL POLICIES AGRICULTURAL LOAN ACCESS TO FINANCING PERSONAL INCOME TRADING CORPORATE INVESTMENTS TAX EXEMPTIONS INTEREST RATES OPTIONS HOUSEHOLD INCOME PRIVATE INVESTMENT DEFICITS RETURN LENDERS DIRECT INVESTMENT LOANS TAX COLLECTIONS INVENTORIES RESERVES GROSS DOMESTIC PRODUCT CASH TRANSFERS FINANCE PUBLIC INVESTMENT TAXES EXPENDITURE INFRASTRUCTURE INVESTMENT EQUITY INCOME TAXES FOREIGN EXCHANGE RESERVES TAX RATE AGRICULTURAL LOANS CAPITAL GRANT FINANCIAL CRISIS PENSIONS CAPITAL GRANT ALLOCATIONS BUDGETS INTEREST RATE CAPS WORKING CAPITAL CONTRACT GOVERNMENT REVENUE REPAYMENT EXPENDITURES PROPERTY PROPERTIES MARKET FOREIGN EXCHANGE LEVY LAND TITLE MARKET RISKS INFRASTRUCTURE INVESTMENTS GRANT ALLOCATIONS INTERESTS GOODS FIXED ASSETS BANK LOANS SECURITY TRANSFER PAYMENTS INVESTMENT NATIONAL BANK SHARE TAX SYSTEM COLLATERAL INTEREST COSTS POVERTY TANGIBLE ASSETS DECENTRALIZATION REVENUE EXTERNAL DEBT PROFIT INVESTMENTS CHECK INTEREST RATE RISK EXCHANGE RATE INSTRUMENT REPAYMENT RISK GUARANTEE World Bank Georgia Public Expenditure Review : Selected Fiscal Issues |
| geographic_facet |
Europe and Central Asia Georgia |
| description |
Georgia has an impressive growth record
but social vulnerabilities persist. It remains a challenge
to tackle social vulnerabilities within a sustained
macroeconomic framework. This programmatic public
expenditure review (PER) assesses the alignment of selected
fiscal programs with the government’s social objectives.
Building on the analysis and recommendations of the 2014
PER, this PER analyzes the impact of recent reforms
including the social programs that were either introduced or
scaled up in 2013. It gives an overview of the recent
macroeconomic and fiscal developments, including the fiscal
implications of the social programs in chapter one. It
addresses three questions in the rest of the report: (1) has
the realignment of spending toward social sectors resulted
in better distributional outcomes; (2) have the agriculture
support programs been targeted at productivity growth to
support real incomes in poor rural regions; and (3) what is
the fiscal and equity impact of the ongoing decentralization
process? The first question is addressed by combining micro
household survey data with administrative fiscal data to
analyze the distributional impact of both taxes and
government spending on poverty and inequality in Georgia in
chapter two. The second question is addressed by comparing
the cost of new agriculture programs with their estimated
impact on agricultural productivity in chapter three.
Finally, the issue of regional inequalities is partially
addressed by discussing three different aspects of the
current decentralization process: the expected fiscal impact
of decentralization, the need to rationalize current capital
grant programs to make public investment more effective, and
the implications of introducing free preschool education
administered at the local government level in chapter four. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Georgia Public Expenditure Review : Selected Fiscal Issues |
| title_short |
Georgia Public Expenditure Review : Selected Fiscal Issues |
| title_full |
Georgia Public Expenditure Review : Selected Fiscal Issues |
| title_fullStr |
Georgia Public Expenditure Review : Selected Fiscal Issues |
| title_full_unstemmed |
Georgia Public Expenditure Review : Selected Fiscal Issues |
| title_sort |
georgia public expenditure review : selected fiscal issues |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/07/24763033/georgia-public-expenditure-review-selected-fiscal-issues http://hdl.handle.net/10986/22259 |
| _version_ |
1764450657060782080 |
| spelling |
okr-10986-222592021-04-23T14:04:08Z Georgia Public Expenditure Review : Selected Fiscal Issues World Bank CREDIT PROGRAM INCOME TAX EXEMPTION MONETARY POLICY NATIONAL SAVING EQUIPMENT ACCOUNTING CHECKS WAREHOUSE GOVERNMENT CAPACITIES DISABILITY PENSIONS INTEREST PUBLIC INVESTMENTS GOVERNMENT REVENUES OPTION REMITTANCE DEVELOPING COUNTRIES EXPORTERS REVENUES PORTFOLIO FISCAL POLICY CAPACITY BUILDING LOAN BUDGET CONSTRAINTS GOVERNMENT SUPPORT PUBLIC REGISTRY ALLOCATION OF CREDIT OIL PRICES ALLOCATION OF CAPITAL BENEFICIARY MARKET REFORMS CURRENCY EXPORT GROWTH COMMERCIAL BANK CAPITAL GAINS CAPITAL FORMATION INCOME INEQUALITY MONETARY FUND FINANCIAL INSTITUTIONS DEBT LOCAL GOVERNMENT PUBLIC FINANCE LAND OWNERSHIP CREDIT PROGRAMS CAPITAL INVESTMENTS INVENTORY FISCAL DEFICIT INVESTMENT DECISIONS LAND‐HOLDERS MARKET ECONOMY COMMERCIAL BANK LENDING HUMAN CAPITAL INTEREST PAYMENTS GOOD GOVERNMENT BUDGET TRANSPARENCY MARKET CONDITIONS FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT FIXED CAPITAL GOVERNMENT EXPENDITURE INVESTMENT PROJECTS ISSUANCE LOAN PORTFOLIO TAX RATES COMMERCIAL LOANS INSTITUTIONAL CAPACITY SHARES INVESTMENT CHOICES POLITICAL UNCERTAINTY PUBLIC DEBT TREASURY HOLDINGS INSURANCE CAPITAL GRANTS CURRENCIES MICROFINANCE ECONOMIC DEVELOPMENT FISCAL AUTONOMY TAX CODE BANK LOAN LOAN OFFICERS RATES OF RETURN COMMERCIAL BANKS FINANCIAL SUPPORT CONSUMER PRICE INDEX LENDING TRUST FUND MARKET REFORM PUBLIC SECTOR DEBT GOVERNMENT INVESTMENT INSTITUTIONAL CAPACITIES CAPITAL INVESTMENT PUBLIC SPENDING REMITTANCES LAND HOLDINGS CREDIT HISTORY FISCAL DECENTRALIZATION CREDIT MARKET INVESTING HOUSEHOLD INCOMES LIVING STANDARDS DEFICIT GOVERNMENT EXPENDITURES TAX EXEMPTION VARIABLE COSTS FINANCIAL MANAGEMENT STOCK FISCAL DEFICITS INFORMATION SYSTEM DOMESTIC BORROWING LOAN PERFORMANCE GUARANTEES GOVERNMENT SPENDING INTEREST RATE EXCHANGE LOCAL GOVERNMENTS TAX COLLECTION GOVERNMENT BUDGETING DISABILITY PENSION TAX INCOME TAX REFERENDUM BUDGETING BENEFICIARIES INFLATION PENSION DEVELOPING COUNTRY BANK LENDING BUDGET MATURITY MACROECONOMIC STABILITY FISCAL POLICIES AGRICULTURAL LOAN ACCESS TO FINANCING PERSONAL INCOME TRADING CORPORATE INVESTMENTS TAX EXEMPTIONS INTEREST RATES OPTIONS HOUSEHOLD INCOME PRIVATE INVESTMENT DEFICITS RETURN LENDERS DIRECT INVESTMENT LOANS TAX COLLECTIONS INVENTORIES RESERVES GROSS DOMESTIC PRODUCT CASH TRANSFERS FINANCE PUBLIC INVESTMENT TAXES EXPENDITURE INFRASTRUCTURE INVESTMENT EQUITY INCOME TAXES FOREIGN EXCHANGE RESERVES TAX RATE AGRICULTURAL LOANS CAPITAL GRANT FINANCIAL CRISIS PENSIONS CAPITAL GRANT ALLOCATIONS BUDGETS INTEREST RATE CAPS WORKING CAPITAL CONTRACT GOVERNMENT REVENUE REPAYMENT EXPENDITURES PROPERTY PROPERTIES MARKET FOREIGN EXCHANGE LEVY LAND TITLE MARKET RISKS INFRASTRUCTURE INVESTMENTS GRANT ALLOCATIONS INTERESTS GOODS FIXED ASSETS BANK LOANS SECURITY TRANSFER PAYMENTS INVESTMENT NATIONAL BANK SHARE TAX SYSTEM COLLATERAL INTEREST COSTS POVERTY TANGIBLE ASSETS DECENTRALIZATION REVENUE EXTERNAL DEBT PROFIT INVESTMENTS CHECK INTEREST RATE RISK EXCHANGE RATE INSTRUMENT REPAYMENT RISK GUARANTEE Georgia has an impressive growth record but social vulnerabilities persist. It remains a challenge to tackle social vulnerabilities within a sustained macroeconomic framework. This programmatic public expenditure review (PER) assesses the alignment of selected fiscal programs with the government’s social objectives. Building on the analysis and recommendations of the 2014 PER, this PER analyzes the impact of recent reforms including the social programs that were either introduced or scaled up in 2013. It gives an overview of the recent macroeconomic and fiscal developments, including the fiscal implications of the social programs in chapter one. It addresses three questions in the rest of the report: (1) has the realignment of spending toward social sectors resulted in better distributional outcomes; (2) have the agriculture support programs been targeted at productivity growth to support real incomes in poor rural regions; and (3) what is the fiscal and equity impact of the ongoing decentralization process? The first question is addressed by combining micro household survey data with administrative fiscal data to analyze the distributional impact of both taxes and government spending on poverty and inequality in Georgia in chapter two. The second question is addressed by comparing the cost of new agriculture programs with their estimated impact on agricultural productivity in chapter three. Finally, the issue of regional inequalities is partially addressed by discussing three different aspects of the current decentralization process: the expected fiscal impact of decentralization, the need to rationalize current capital grant programs to make public investment more effective, and the implications of introducing free preschool education administered at the local government level in chapter four. 2015-07-20T21:03:55Z 2015-07-20T21:03:55Z 2015-06 Report http://documents.worldbank.org/curated/en/2015/07/24763033/georgia-public-expenditure-review-selected-fiscal-issues http://hdl.handle.net/10986/22259 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Public Expenditure Review Europe and Central Asia Georgia |