- June 5, 2023
- Posted by: admin
- Categories: Current News, macroeconomic management
MEFMI conducted an in-country workshop on macroeconomic diagnostics in Mbabane, Eswatini, from 17 to 25 April 2023. This was in response to a request by the Ministry of Economic Planning and Development of Eswatini for an in-country workshop in this area.
Macroeconomic diagnostic tools that can support effective economic analysis and policymaking have over the years become an important tool for policymakers in central banks, ministries of finance, and other relevant institutions in quantifying the impact of policy. The use of these tools makes it possible to diagnose the state of the economy adequately and timely, thereby allowing for an effective policy-making process.
The main objective of the workshop was to enhance the capacity of the Ministry of Economic Planning and Development staff to conduct a comprehensive assessment of the macroeconomic situation in Eswatini. In this regard, the training imparted knowledge and an understanding of the various concepts and techniques in macroeconomic diagnostics to the participants.
Standard macroeconomic diagnostic techniques such as analysing potential output and output gaps, diagnosing the outlook for the economy, and assessing the stance of fiscal, monetary, and financial policies, among others, were covered in the workshop. The training placed emphasis on practical tools for use in day-to-day macroeconomic analysis. It also relied on data and case studies relevant to Eswatini to illustrate how these tools can be applied and contribute to the policymaking process. It is expected that the skills obtained in this workshop will help support effective policy analysis in Eswatini.
A total of 28 officials from the Ministry of Economic Planning and Development, Ministry of Finance, Central Bank of Eswatini, and other line Ministries attended the workshop. Of the 28 participants, 10 (36%) were female while 18 (64%) were male. The workshop was facilitated by Dr. Austin Chiumia from the Reserve Bank of Malawi and Dr. Frank Chansa from MEFMI.