TARGET GROUP | Junior to mid-level officials working in ministries of finance or economy, treasuries, fiscal policy units of central banks, fiscal councils, and other agencies involved in the analysis, design, conduct, and assessment of fiscal policy. Participants should have experience in budgeting and/or economic policymaking.
DESCRIPTION | This one-week course examines the role of fiscal institutions in improving the quality of macroeconomic management and fostering economic and financial stability and growth. Through lectures, workshops and participant presentations, the course aims to improve officials’ understanding of the main issues related to sound fiscal frameworks and policies. Experiences in implementing numerical fiscal rules and establishing independent fiscal councils are discussed and compared across countries in the region, including an overview of macro-fiscal impact assessments where available. Finally, the course also underscores modern approaches to public financial management in order to assist with the implementation of sound and sustainable fiscal policies.
The course covers among others the following topics:
• Trends in fiscal management, fiscal rules, and fiscal councils
• Compliance with and effectiveness of numerical fiscal rules
• Fiscal space and fiscal discipline
• Reforms of fiscal institutions in selected countries and their impact, including the current EU fiscal framework
• Fiscal accounting and analysis, including debt sustainability
• Principles of budgeting and public financial management