The Georgian Asset Declaration System is in Need of an Update

The Georgian Asset Declaration System is in Need of an Update

Tbilisi. Due to the information of the Transparency International Georgia the mechanism for the monitoring of public officials’ asset declarations went into force in Georgia in 2017.

"Prior to that, information disclosed by public officials related to their assets, connections, and finances was not subject to verification. Given these circumstances, it didn’t come as a surprise that the new monitoring mechanism in its inaugural year revealed violations in 80% of the asset declarations that had been selected for verification. The analysis of the results of the first 3 years shows that the monitoring mechanism fulfills only half of its officially assigned functions. The monitoring system is focused entirely on verifying the accuracy and completeness of the declarations and does not aim to reveal a conflict of interest and instances of corruption. It is important for monitoring to fulfill both functions in the future".

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Source: transparency.ge

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