The seminar will examine the role of sound macro-fiscal data and institutions in improving the quality of fiscal management and fostering economic and financial stability and growth. Through lectures, workshops and participant presentations, the course will aim to improve officials’ awareness of the importance of sound fiscal institutions, policies and data for sound macro-fiscal management, and to raise their effectiveness as policymakers. The course will review the key stages and institutional requirements to ensure the successful development and implementation of medium-term sustainable fiscal policy.
The seminar will examine fiscal accounting and analysis requirements, including debt sustainability and the role of transparency in fiscal management. Experts will discuss the requirements for developing comprehensive macroeconomic and fiscal forecasting capacity to help shape underlying fiscal policy. The course will explore the principles of budgeting and other elements of public financial management that underpin the design and implementation of fiscal policy. In addition, the importance of independent technical analysis in formulating sound macro-fiscal policies will be highlighted, emphasizing the role of surveillance in disciplining fiscal policies and reporting systems. Lessons will be drawn on the importance of macro-fiscal institutions from the recent experience of countries that have faced major fiscal shocks during the recent crisis.
The course will include case studies on advanced and emerging market experiences in developing fiscal capacity.
How you will benefit
The objective of the course is to help participants to better understand the crucial importance of sound fiscal institutions to foster economic and financial stability and growth through appropriately designed and executed fiscal policy.
The course has been designed for senior level officials from fiscal institutions who actively deal with fiscal policy design, implementation and oversight. Participants from ministries of finance, ministries of economy, central executive offices – prime ministers’ offices, independent fiscal agencies, as well as permanent secretaries, or parliamentary budget and finance committees would be welcome to apply.
Contributions from participants
The seminar will be highly participatory. Participants are encouraged to be active in discussions and exercises throughout the four days.
- 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