The News in Brief
Friday, November 18, 2022
Prepared by Messenger Staff
President of Georgia visits United Kingdom of Great Britain and Northern Ireland
President of Georgia Salome Zourabichvili paid a working visit to the United Kingdom of Great Britain and Northern Ireland. The President's administration released information about this.
According to the press release, the President of Georgia delivered a lecture in Oxford at the "Oxford Union" as part of the annual series of "Benazir Bhutto Memorial Lecture". The president of Georgia will be met and hosted by the president of the union Ahmed Nawaz in Oxford Union.
"The Oxford Union "Benazir Bhutto Memorial Lecture" was founded by the Prime Minister of Great Britain, Theresa May, and she and David Cameron have given lectures within the cycle. In addition, former British Prime Minister Boris Johnson was one of the presidents of the Union.
Within the framework of the working visit, the President of Georgia will participate in the London international conference "Globalize UK 2022". The president will attend the autumn test match of the rugby, Welsh and Georgian national teams in the city of Cardiff," it is mentioned in the published information.
Minister of Finance: Economic and social effects will be assessed in advance on projects starting in 2023, the value of which exceeds 20 million GEL
The Minister of Finance , Lasha Khutsishvili, while talking about the reform of state investment management, said that all those projects that will start in 2023 and whose value exceeds 20 million GEL, a preliminary assessment will be carried out, which includes the preliminary determination of both the economic and social effects of the project.
According to him, within the framework of the technical assistance of the International Monetary Fund and the World Bank, the investment project management methodology will be updated by the end of 2022.
"The methodology includes the full cycle of project pre-selection, evaluation, budgeting, implementation and post-completion evaluation. The updated methodology defines specific criteria for which projects will be subject to mandatory preliminary assessment.
Along with the budget, with the presented legislative amendments, it becomes mandatory to present the preliminary assessment results along with the budget for all new investment projects that comply with the criteria defined by the updated methodology and are reflected in the budget draft," said Lasha Khutsishvili.
According to the Minister of Finance Lasha Khutsishvili, this reform will significantly increase the efficiency of our capital expenditures.
President of Georgia visits United Kingdom of Great Britain and Northern Ireland
According to the press release, the President of Georgia delivered a lecture in Oxford at the "Oxford Union" as part of the annual series of "Benazir Bhutto Memorial Lecture". The president of Georgia will be met and hosted by the president of the union Ahmed Nawaz in Oxford Union.
"The Oxford Union "Benazir Bhutto Memorial Lecture" was founded by the Prime Minister of Great Britain, Theresa May, and she and David Cameron have given lectures within the cycle. In addition, former British Prime Minister Boris Johnson was one of the presidents of the Union.
Within the framework of the working visit, the President of Georgia will participate in the London international conference "Globalize UK 2022". The president will attend the autumn test match of the rugby, Welsh and Georgian national teams in the city of Cardiff," it is mentioned in the published information.
Minister of Finance: Economic and social effects will be assessed in advance on projects starting in 2023, the value of which exceeds 20 million GEL
According to him, within the framework of the technical assistance of the International Monetary Fund and the World Bank, the investment project management methodology will be updated by the end of 2022.
"The methodology includes the full cycle of project pre-selection, evaluation, budgeting, implementation and post-completion evaluation. The updated methodology defines specific criteria for which projects will be subject to mandatory preliminary assessment.
Along with the budget, with the presented legislative amendments, it becomes mandatory to present the preliminary assessment results along with the budget for all new investment projects that comply with the criteria defined by the updated methodology and are reflected in the budget draft," said Lasha Khutsishvili.
According to the Minister of Finance Lasha Khutsishvili, this reform will significantly increase the efficiency of our capital expenditures.