TARGET GROUP | Junior and mid-level officials working in ministries of finance or economy, at treasuries and central banks. Participants should have experience in budgeting and/or economic policymaking.
DESCRIPTION | This two-week virtual 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 debates, the course aims to improve officials’ understanding of the main issues related to sound fiscal frameworks and policies. The course also underscores modern approaches to public financial management in order to assist with the implementation of sound and sustainable fiscal policies. Selected reforms of fiscal institutions such as the role of independent fiscal councils and fiscal rules in disciplining fiscal policies and improving reporting systems are discussed.
The course covers the following topics:
• Trends in fiscal management, fiscal rules, and fiscal councils
• Principles of budgeting and public financial management
• Fiscal risk
• Fiscal accounting and analysis, including debt sustainability
• The role of fiscal transparency, and existing initiatives in the areas of misreporting and fiscal standards and codes
• The current EU fiscal framework
• Public Investment Management