Georgia: Minister of Finance of Georgia, Lasha Khutsishvili, participated in the joint session of the Network of Mutual Cooperation of Practitioners in the Field of Public Finance Management (PEMPAL), held by Austria on 25 March, 2025 at the Austrian Ministry of Finance.
The event revolved around the theme of: Future Prospects of Public Finance Management in the Background of Modern Global Challenges – Innovative Solution. It had more than 200 attendees from thirty countries, including 21 PEMPAL countries.
These sessions witnessed participation from the Moldovan and North Macedonian Finance Ministers along with the Finance Deputy Ministers of Kyrgyzstan, Tajikistan, Romania, Bosnia, Serbia, and Herzegovina taking part in the discussions.
The key discussion topics centered on the modern challenges in PFM and the potential for future cooperation within the PEMPAL network to effectively address these issues. One of the key issues discussed during the session was the challenges faced in the management of public financial resources and ways in which PEMPAL could assist in overcoming them.
Other challenges discussed include the contribution of digital solutions to the management of public finances and PEMPAL’s role in the globalization response mechanism.
While talking in the panel during the session, the Minister of Finance of Georgia highlighted the achievements of Georgia in the implementation of the Public Finance Management reform which is likely to be corroborated by international evaluations and rankings.
Additionally, he addressed emerging difficulties, especially with respect to the contribution of new technologies to PFM, and pointed out the importance of the PEMPAL network in the development of global response mechanisms to these issues.
Moreover, the PEMPAL network works on three core themes: budgeting, treasury and internal audit, and internal control. Within the framework of the organizational and thematic committees, representatives of the Budget Department, the Department of Internal Control, and the Treasury Service of the Ministry of Finance of Georgia are represented.
