Finance Ministry and IMF Collaborate on Economic Forecasting Frameworks
The Syrian Ministry of Finance has concluded a series of consultative sessions with a technical mission from the International Monetary Fund (IMF) aimed at refining macroeconomic forecasting mechanisms and the medium-term fiscal framework. The closing session was presided over by Minister of Finance, Mohammad Yassar Bernieh, and attended by members of the international mission currently visiting Damascus.
During the meetings, the IMF mission presented a preliminary report outlining the findings of its field work. The report included a set of recommendations designed to improve the efficiency of public finance management in Syria. Key proposals focused on upgrading economic forecasting tools, strengthening coordination between the Ministry of Finance and relevant government agencies, and establishing an integrated financial risk framework to be incorporated into the state budget preparation process.
Discussions also covered strategies for enhancing the technical operations within the Ministry’s Directorate of Financial Policies. A primary objective is the development of periodic reporting to monitor vital economic indicators, specifically public debt, fiscal deficits, and expenditure levels. These efforts are intended to strengthen the technical capabilities of the Ministry’s staff and ensure a more effective alignment between fiscal policies and the national budget planning cycle.
Minister Bernieh emphasized the necessity of implementing all agreed-upon recommendations from the technical mission within a timeline not exceeding six months. He also expressed his support for publishing the mission’s final report once the review process is complete. In turn, the IMF mission expressed appreciation for the Ministry’s efforts and commended the progress achieved in developing these frameworks within a short period.
These meetings serve as a continuation of a process initiated on October 25. During that phase, the Ministry and the technical mission discussed launching the second stage of a project to construct a macroeconomic forecasting model and a medium-term fiscal framework. The initiatives are part of the Ministry’s broader efforts to improve economic governance and future fiscal planning capacity.
Source: Syria Focus Arabic
