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Fiscal Policy

Strengthening Medium-term Budgeting of Public Investment

Deadline passed

Session No.: JV 24.04

Location: Vienna, Austria

Date: February 27, 2024 - March 1, 2024 (1 week)

Delivery Method: In-person Training

Primary Language: English

    Target Audience

    The course is designed for senior level public officials working in the Ministries of Finance or Economy in charge of the government budget and/or of public investments and other staff from line ministries and public corporations responsible for key public infrastructure (i.e., transportation, energy) who oversee the preparation and implementation of capital projects.

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    Qualifications

    The participants in this event should be familiar with processes for budgeting and oversight of public investment projects in their countries, including:

    • Public investment strategic planning,
    • Project appraisal and selection,
    • Medium-term and annual budgeting for public investment,
    • Implementation of oversight of infrastructure projects.
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    Course Description

    To achieve the objectives, the course will consider the three phases of the project cycle identified in the IMF’s Public Investment Management Assessment (PIMA) framework. For planning, the course will review the key information that should be gathered during the project appraisal process. For resource allocation, the course will showcase the medium-term budget implications of project selection on both capital and current spending. For project implementation, the course will review how financial monitoring should feed into the planning and resource allocation processes. 

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    Course Objectives

    The key objective of the course is to help authorities improve their public investment management (PIM) function by adopting a medium-term budgeting approach to public investment projects. By the end of the course, the participants should be able to:

    • Understand how to develop a project selection process based on the project information,
    • Identify the key information on public investments needed to ensure the medium-term sustainability of the government’s budget,
    • Estimate medium-term fiscal space available for new projects, and
    • Medium-term fiscal requirements for operation and maintenance of public investments.
    • Monitor financial execution of investment projects,

    The course will provide hands-on training on the new FAD Excel-based PIM tool to support the planning, selection and prioritization, budgeting, and implementation of public investments, which could be adopted to strengthen PIM in participants’ countries.

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