Georgia remains top among 125 nations in terms of budget transparency according to the Open Budget Survey 2023 published on Wednesday.

The Georgian Finance Ministry credited the upshots to the “consistent and properly” implemented public finance management reforms in the past years.

The survey also evaluates budget oversight and citizen participation, where Georgia ranks 5th among 125 countries. The results are as follows:

• Budget transparency – 87 points (of 100)
• Budget oversight – 83 points (of 100)
• Citizen Participation – ​​44 points (of 100).

“Compared to the 2021 survey, budget oversight has improved significantly. Georgia’s score increased from 74 to 83 points, propelling the country from 21st to 5th position. Georgia has also made significant progress in budget transparency. Georgia has progressed from the group of nations with inadequate budget transparency in 2012 to the ranks of advanced – completely transparent countries in 2017,” the Ministry stated.

First launched in 2006, the Open Budget Survey is the world’s only independent, comparative, and fact-based research instrument to measure these essential aspects of governance and accountability: participation, oversight, and transparency.