Medium-term budget frameworks were the main topic of day two of the IMF’s seminar on Building Fiscal Institutions to Meet Post Crisis Challenges. The necessary prerequisites and main elements of medium-term budget frameworks were outlined in the introductory presentation by Duncan Last, Senior Economist at the IMF, together with successful country examples. His presentation was followed by a group exercise on medium-term budget frameworks with delegates tasked with preparing an action plan to introduce MTBFs, identifying essential data requirements during the preparation process; and the necessary measures required to ensure effective implementation.
The last session of the day was an interactive discussion on the role of the parliaments in the budget process in South East European (SEE) countries facilitated by Mr. Last and Brian Olden, Regional IMF Public Financial Management Advisor for SEE.
Presentations delivered on day 2 can be obtained at presentations (day 2) subsection.
Photos from day 2 can also be viewed at multimedia (day 2) subsection.
- Delegates’ positive feedback on the seminar
- IMF seminar ends after meaningful discussions on the importance of strong fiscal institutions to meet future challenges
- Presentation of the results of a questionnaire on fiscal institutions and systems in South East European countries
- Experience with medium-term budgeting reforms shared on day 2
- Delegates discussed fiscal forecasting and fiscal consolidations on day 1 of the seminar