Public Finance Management
The importance of good public financial management (PFM) for the effectiveness and efficiency of a state has become increasingly clear over the years. Good PFM supports good governance and transparency, and it is crucial for the effective delivery of services, on which human and economic development rely. For this reason, PFM is considered a priority for many states, which are oriented towards making prudent fiscal decisions, developing and adopting reasonable budgets, establishing reliable and efficient resource flows and transactions, and institutionalizing accountability.
We share such views about the critical importance of having robust PFM systems in place and acknowledge their value in public sector management. We work with state institutions to increase understanding of the necessity of a strong level of political commitment to reform implementation, to tailor the design and implementation of models according to the institutional and capacity context, and to pinpoint the vitality of robust coordination arrangements for monitoring and guiding reform process.
With these objectives in mind, informed by the experience within a country or within a region, and through broader international understanding, we support states to develop policy frameworks and procedures for modern PFM systems built on advanced methodologies and innovative approaches, based on modern information and communication technologies enabling sustainable, efficient, effective, and transparent management of public finances.
In our work with state budgetary institutions, based on an in-depth understanding of political context, we establish the institutional and organizational needs for reforming public sector management processes into well-functioning, efficient, transparent, and sustainable mechanisms.
Public Finance Management (PFM) Services
Our PFM portfolio today entails various aspects of PFM, including the following types of services:
- Medium-Term Budget Frameworks (MTBFs)
- Program-Based Budgeting, Budget Preparation, Execution, and Reporting
- Budget Monitoring and Evaluation Systems
- Macroeconomics and Fiscal Forecasting
- Development of Financial Management Systems
- Public Expenditure and Financial Accountability (PEFA)
- Tax and Customs Policy
- Public Investment Financing and Management
- Public Debt Management
- Fiscal Risk Management
- Cash Planning and Management
- E-budget, E-treasury
- Procurement Systems
- Sectoral Analyses, Strategic Planning, and Budget Financing
- Audit and Accountability Systems
- Public Sector Accounting Standards (IPSAS)
- Domestic Revenue Mobilization
- Institutional Reforms
- Capacity Building of Central Government Agencies, the Ministry of Finance, as well as Line Ministries, and Regional and Local Authorities in PFM
Public Finance Management Team
Public Finance Management Team
Aleksi Aleksishvili, Chairman and CEO at Policy and Management Consulting Group (PMCG), has 20 years of working experience in the public finance and economic development policy sector as a high-level government official and the government adviser responsible for budget and financial policy, tax and customs policy reform, business climate improvement and doing business environment.
While working as Minister of Finance of Georgia between 2005 and 2007, he successfully conducted a series of reforms in the domains of public finance, tax and customs policy and administration as well as economic deregulation and liberalization domains. Notably, Georgia was ranked by the World Bank “Doing Business” survey as the world’s top reformer country in 2005-10. Similarly, Georgia also rose from 132nd place to 18th in the ranking of “Ease of Doing Business” by the World Bank between 2004 and 2007.
As Minister of Finance, Aleksishvili conducted reforms in public finance management and tax and customs. As a result of comprehensive policy reforms, Georgia’s GDP growth rate in 2005-2007 reached over 10% on average (2005 – 9.6%, 2006 – 9.4% and 2007 – 12.3%) while the country’s FDI increased from USD 250 million in 2004 to USD 2.1 billion in 2007.
Aleksishvili has accumulated exceptional knowledge of development challenges. As the Chairman of the United Nations Commission of Sustainable Development (2005-2006), he has addressed issues related to energy, climate change, air pollution and industrial development, successfully adopted by the Commission and UN General Assembly.
Aleksishvili is a member of the Caucasus and Central Asia Advisory Group (CCAG) of the International Monetary Fund’s (IMF) Middle East and Central Asia Department (MCD). He has advised numerous governments of countries such as Albania, Mongolia, Kosovo, Mozambique, Afghanistan and Kyrgyzstan to enhance their respective business enabling environments by providing valuable assistance and delivering specialized experience of a transitional country.
Mr. David Lezhava is Public Policy Sector Director at PMCG, and has 20 years of professional working experience in the fields of public finance and economic development, regional development, social policy, and energy policy.
As Public Policy Sector Director, he is responsible for managing PMCG’s public policy project portfolio, fundraising and collaboration with partners, clients and international development organizations, as well as development and implementation of the company’s strategy.
Prior to joining PMCG’s management, Mr. Lezhava worked as a National Project Manager on UNDP’s project “Support to Rural Development in Georgia” where he ensured effective implementation of the project.
In addition, during his time as Deputy Minister of Finance of Georgia, he handled international relations, fiscal forecasting and analytical work, and public debt management process.
Mr. Lezhava enriched his expertise in coordinating relations between international organizations and the Georgian government, while working as Advisor to the Executive Director at the International Monetary Fund, in Washington D.C. where he represented the interests of Georgian authorities, facilitated IMF program implementation in Georgia, and reviewed IMF policy documents.
As a Chief Economist, Head of Research Division, and Member of the Monetary Policy Committee at the National Bank of Georgia, Mr. Lezhava led the creation of economic models for macroeconomic forecasts and played key role in monetary and foreign exchange (FX) policy decision making.
Along with his diverse experience, Mr. Lezhava has a strong academic background. He holds a master’s degree in Development Economics from Williams College (USA) and a candidate’s degree in Physics from The Academy of Science of Georgia. He is fluent in Georgian, English and Russian.
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