Ministry of Finance of Georgia is an executive government agency of the country performing the public administration function in finance, budgeting and taxation by ensuring the development and adherence to the legislation for budgeting, inland revenue and accounting purposes, prevention of economic offences through efficient investigation and preliminary scrutiny.
Main competences and authority of the Ministry of Finance are as follows:
o Preparation of the Annual State Budget of Georgia, along with the major data and directions for the following 4 years;
o Monitoring over the execution of the State Budget, reporting on the budget performance, submission of the budget execution reports to the Government and Parliament of Georgia;
o Public funds management for the Government of Georgia;
o Definition of major directions of the tax policy and improvement of tax legislation in the country;
o Sovereign debt management;
o Cooperation and coordination with international financial institutions and bilateral partners;
o Cooperation with international rating firms on sovereign rating of the country;
Ministry of Finance is accountable towards the Government of Georgia and carries out tasks envisaged in the legislation, assigned by the Government and Prime Minister of Georgia on the grounds of the country’s legislation.