Background

The ongoing economic shocks due to high inflation and the associated large fiscal deficits that have impacted many countries underscores the importance of reliable and timely government statistics as a critical element in countries’ fiscal and external sustainability analysis. As countries look towards recovery from the pandemic, Government Finance Statistics (GFS) constitute a core part of the system of macroeconomic accounts statistics. They serve a key role in policy making, especially in the context of fiscal policy analysis. Improving the quality of GFS in terms of comprehensiveness, accuracy, timeliness and usability should be an important goal for compilers of these statistics. This training is part of MEFMI’s interventions that contribute to the common goal of improving the quality of GFS in member countries.

Objectives

The objective of the course is to strengthen participants’ knowledge and skills in compiling and disseminating GFS in line with international sound practices, particularly the Government Finance Statistics Manual 2014.

Course Content

The course covers the following:

• i. Why GFS?
• ii. Overview of the GFS System (GFS coverage and accounting rules)
• iii. Basic concepts, definitions, and accounting principles in the integrated GFS framework
• iv. Classify basic government flows and stock positions according to GFSM 2014
• v. Functional Classifications of Expense (COFOG)
• vi. GFS Statement of Government Operations and the balance sheet
• vii. Sources and methods used for compiling the statistic

Target Group

This course targets junior and middle level staff responsible for compilation and reporting of government finance and public sector debt statistics within Ministries of Finance, National Statistical Offices, as well as Central Banks.