Fiscal Analysis and Forecasting (FAF)
Target Audience
Junior officials from both ministries of finance and/or central banks who would benefit from a broader understanding of the macroeconomic dimensions of fiscal policy issues.
Qualifications
Participants are expected to have a degree in economics or a related field, experience in macroeconomic analysis, and proficiency in Microsoft Excel.
Course Description
This course aims at offering participants a more extensive exposure to fiscal issues and the macroeconomic effects of fiscal policy than is possible in a normal course on financial programming and policies. Separate lectures are devoted to fiscal accounts and analysis, fiscal forecasting, fiscal sustainability, the interrelations between the fiscal sector and the rest of the economy, and the fiscal dimension in financial programming. There are also presentations on selected fiscal issues of current interest.
About half of the course time is allocated to workshops. These include sessions on fiscal accounting and analysis, fiscal forecasting and fiscal sustainability, and designing a fiscal baseline for a country case.
Course Objectives
Upon completion of this course, participants should be able to:
• Describe and explain the Medium-Term Budget Framework (MTBF), Fiscal Rules, and Fiscal Councils and their role in promoting sound fiscal policy through international experiences.
• Analyze the readiness of countries for MTBF, Fiscal Rules, and Fiscal Councils as well as to address implementation challenges.
• Apply acquired knowledge and skills to group-based assessments of real case studies.
