CAREC Economic and Financial Stability Cluster Forum 2023
Mobilizing Taxes for Development and Decarbonization in CAREC Region
High-Level Policy Dialogue
High-level representatives from CAREC countries, Deputy Ministers of Finance, senior representatives from ADB, the International Monetary Fund (IMF), and the World Bank gathered at the high-level policy forum on 14 February in Tbilisi to share experiences and lessons learned in mobilizing domestic revenues, designing efficient and equitable tax policies, and to discuss challenges and opportunities in implementing carbon taxation.
Georgia’s Minister of Finance Lasha Khutsishvili and CWRD Director General Yevgeniy Zhukov welcomed official delegates and stressed the importance of reliable domestic revenues and mitigation policies to protect the region from external shocks and climate-related vulnerabilities.
The first session was led by IMF and discussed policies and measures to raise more revenue to support national development goals and rebuild fiscal buffers of CAREC countries. The second session, jointly organized by ADB and the World Bank, discussed perspectives for carbon taxation in CAREC countries, including non-climate reasons to use carbon taxes and issues related to the design and implementation of carbon taxation.