Government Finance Statistics Manual
Source details
- Canonical URL
- Government Finance Statistics Manual
Other formats
Update overview
- The IMF Statistics Department has launched the update for the Government Finance Statistics Manual 2014 (GFSM 2014).
- Target completion date for the GFSM 2014 update: December 2027.
- The GFSM 2014 update follows updates to the 2008 System of National Accounts (2008 SNA) and the Sixth Edition of the Balance of Payments and International Investment Position Manual (BPM6), which have a target release date of March 2025.
Key objectives of the GFSM 2014 update
- Harmonization with other statistical standards to ensure consistency in common areas of guidance.
- Meeting user needs by providing additional guidance and clarity for evolving fiscal policy.
Process, timeline, and research program
- The process and timeline for the GFSM 2014 update, and the research program to be tackled, are set out in two framework documents:
- Process and Timeline for Updating the GFSM 2014
- List of Research Projects for Updating the GFSM 2014
Governance and endorsements
- An important element of governance is the IMF’s Government Finance Statistics Advisory Committee (GFSAC), a group of experts from across all regions of IMF membership who provide advice on government finance statistics.
- In September 2024, following global consultation, the GFSAC endorsed the two framework documents for the GFSM 2014 update.
Workstreams and task teams
- Research work is advanced through two workstreams:
- Workstream 1: Focuses on reflecting decisions made as part of the 2008 SNA and BPM6 updates in the updated GFSM.
- Workstream 2: Focuses on additional GFS-specific research projects; delivered through four task teams:
- Task Team 1 (GFS Compilation)
- Task Team 2 (Debt and Other Monetary and Financial Topics)
- Task Team 3 (Environmental)
- Task Team 4 (Fiscal Analysis and GFS Communication)
Consultations and stakeholder engagement
- Feedback will be sought at different stages of the process in preparing proposals and recommendations.
- A full list of active and closed global consultations is maintained.
- A consultation was closed on July 26th 2024: Consultation on Proposals for Advancing the Update to the GFSM 2014 (with a Summary of Consultation Responses and surveys referenced).
Related research and coordination
- The update is coordinated with related updates and projects including:
- Update of the System of Environmental Economic Accounting (SEEA) Central Framework
- Revision of the Classification of Functions of Government (COFOG)
- Government Finance Statistics Advisory Committee (GFSAC) engagement in SNA/BPM updates
- Update of the Balance of Payments Manual (BPM6)
- Update of the System of National Accounts (2008 SNA)
Available materials and progress
- Noted resources and materials include:
- GFSM 2014 Update Progress - July 2026
- Updating the GFSM 2014 (slides)
Content in this bundle
References