The Constitution of Georgia

CHAPTER SIX
State Finances and Control

Article 92

1. The Parliament of Georgia by the majority of the number of the members of the Parliament on the current nominal list shall annually adopt the Law on the State Budget, which shall be signed by the President of Georgia.
2. The procedure of the drafting and adoption of the State Budget shall be determined by law.

Article 93

1. Only the Government of Georgia after the agreement with the committees of the Parliament on the basic data and directions shall be authorised to submit the Draft Budget to the Parliament by the consent of the President of Georgia.
2. The Government shall submit the Draft Budget of next year to the Parliament not later than three months before the end of the budget year. Together with the Draft Budget, the Government shall submit a report on the progress of the fulfilment of the State Budget of the current year. The Government shall submit a report on the fulfilment of the State Budget to the Parliament for approval not later than three months from the end of the budget year. In case of non-fulfilment of the State Budget the Parliament does not approve a report on the fulfilment of the State Budget, the President of Georgia shall consider the issue of liability of the Government and inform the Parliament on his/her founded decision within a month.
3. The President shall approve the State Budget by a decree if it is not approved by the Parliament within a term established by the Constitution in cases defined by subparagraphs "a"-"d" of Article 51¹ of the Constitution.
4. The introduction of changes in the Draft Budget without the consent of the Government shall be impermissible. The Government shall be authorised to request the Parliament for the additional state expenditure, only if it indicates the sources of covering the latter.
5. The Parliament shall be authorised to control the legality of expenditure of the State Budget and in case of revealing the violation make a request on suspension of expenditure of the budget means before the President of Georgia. In case of confirming of illegal expenditure the President shall adopt a relevant decision.
6. If the Parliament fails to adopt the Budget submitted in accordance with a procedure established by paragraph 2 of this Article within three months, the President of Georgia shall be authorised to dismiss the Government or dissolve the Parliament and schedule extraordinary elections.
7. In case of dissolution of the Parliament due to unapproved State Budget the President shall approve the State Budget by a decree and submit to the Parliament within a month from the recognition of the authority of the newly elected Parliament.
8. A draft law which results in increase of expenditure of the State Budget of the current year, reduction of an income or taking of the new financial obligations by the State, may be adopted by the Parliament only after the consent of the Government, whereas the above mentioned laws with regard to the next financial year- by the Government within the scope of the basic parameters of the State Budget agreed with the Parliament.

(acquired a new wording by the Constitutional Law of 6 February 2004)

Article 94

1. The payment of taxes and duties shall be obligatory in the amount and in accordance with a procedure established by law.
2. The structure of taxes and duties and the procedure for the introduction thereof shall only be determined by law.
3. Exemption from taxation as well as bearing the costs from the state treasury shall only be permissible by law.

Article 95

1. The monetary-credit system of Georgia shall be ensured by the National Bank of Georgia.
2. The National Bank of Georgia shall work out and exercise monetary-credit and currency policy in accordance with the main directions determined by the Parliament.
3. The National Bank shall be the bank of banks and the banker of the Government of Georgia and its fiscal agent.
4. The National Bank shall be independent in its activity. The rights and duties, activity procedure and guarantee of independence of the National Bank shall be determined by the Organic Law.
5. The name of money and the monetary unit shall be determined by law. Only the National Bank shall be authorised to money emission.

Article 96

1. The Council of the National Bank shall be the higher body of the National Bank of Georgia. The members of the Council of the National Bank shall be elected for a term of seven years by the Parliament by the majority of the number of the members of the Parliament on the current nominal list upon the submission of the President of Georgia. The dismissal of the members of the Council of the National Bank shall be permissible only under a decision of the Parliament in accordance with Article 64.
2. The President of the National Bank shall be appointed and dismissed by the President of Georgia of the Bank upon the submission of the Council of the National Bank among the members of the Council.
3. The National Bank shall be responsible before the Parliament and shall annually submit a report on its activity.

Article 97

1. The Chamber of Control of Georgia shall supervise the use and expenditure of state funds and of other material values. It shall also be authorised to examine activity of other state bodies of fiscal and economic control, submit proposals on improving tax legislation to the Parliament.
2. The Chamber of Control shall be independent in its activity. It shall be accountable to the Parliament. The President of the Chamber of Control shall be elected for a term of five years by the Parliament of Georgia by the majority of the number of the members of the Parliament on the current nominal list upon the submission of the President of Georgia. The grounds and a procedure of his/her dismissal shall be prescribed by the Constitution and law. (acquired a new wording by the Constitutional Law of 6 February 2004).
3. The Chamber of Control shall submit a report to the Parliament regarding Government expenditure twice a year while submitting the preliminary and final reports on the fulfilment of the Budget, and it shall submit a report on its activity once a year.
4. The authority, organisation and procedure activity and guarantee of the independence of the Chamber of Control shall be determined by law.
5. Other bodies of state control shall be set up in accordance with law.

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