世界银行-驾驭财政现实_实现格鲁吉亚公平增长（英）-2025.4_95页_4mb

Analysis of Fiscal Policy Impact on Poverty and Inequality in Georgia

Executive Summary Overview:

• Georgia's economy has shown resilience with commendable poverty reduction, yet significant challenges persist in income inequality and an aging population.
• Fiscal policy is moderately progressive, reducing poverty and inequality primarily through direct transfers (pensions) and in-kind benefits (health/education).
• Poorer households are net beneficiaries, with the bottom 90% receiving the most fiscal support, while pensions and transport subsidies are highly cost-effective for poverty reduction.

Fiscal Incidence Analysis (FIA) Findings:

• Fiscal policies reduced Gini inequality by 20 points (44.7 to 24.6) between market and final incomes. Donor countries in the Europe and Central Asia region showed similar or higher effectiveness.
• The cost-effectiveness analysis reveals that Targeted Social Assistance (TSA) transfers have nearly double the impact of pensions on poverty and inequality reduction per unit of expenditure.

Gender Equity in Fiscal Policy:

• Gender disparities are pronounced, particularly in rural areas where women have lower labor force participation. Fiscal interventions reduce the gender gap more significantly in urban areas.
• Direct transfers and health spending show positive gender effects, but childcare constraints limit women's economic participation.

Policy Recommendations:

• Pension System Reforms: Ensure sustainability through structural changes in the labor market and gradual retirement age adjustments.
• Domestic Revenue Mobilization: Enhance tax collection efficiency, reform PIT, increase VAT reliance, and implement health taxes on tobacco/alcohol.
• Expenditure Efficiency: Shift from untargeted subsidies to targeted social assistance, promote human capital investments in education and healthcare, especially in rural areas.
• Gender-Inclusive Reforms: Strengthen childcare support, flexible work policies, and early education to boost women’s labor participation.