Posted on December 21, 2016

The Qatar Institute for Public Finance (QIPF), a joint venture among the Qatar Finance and Business Academy (QFBA), the Organization for Economic Cooperation and Development (OECD) and the Ministry of Finance (MoF), has successfully concluded its 4-day workshop on the Concepts and Practices of Macro economy and Public Finances.

The multi-session workshop witnessed the participation of 15 officials from the MoF, Ministry of Development, Planning and Statistics (MDPS), Ministry of Economy and Commerce (MEC); and the Qatar Central Bank (QCB), who explored, together with the workshop’s high profile speakers and industry experts, how fiscal policy can be used as an instrument to achieve macroeconomic stability and growth.

Commenting on the event, Dr. Abdulaziz Al Horr, CEO of QFBA, said: “As Qatar prepares for the disclosure and the subsequent implementation of its National Development Strategy 2017-2022, workshops and initiatives that discuss and train professionals in concerned authorities on understanding public finances and optimizing fiscal policy are of paramount importance, and play a key role in the achievement of the country’s objectives, in the framework of its National Vision for the year 2030.”

He added: “QIPF’s workshop has successfully accomplished its purpose by introducing Public Sector officials to some of the key concepts and important topics pertaining to public finance and macroeconomics. Which is why, at QFBA, we would like to thank each and every participant who saw the value of the workshop and took time out of their busy schedule to be part of such an important event.” During the workshop, four high profile speakers discussed several key topics that covered the fundamental Concepts and Practices of macro economy and public finances. On the first day, a number of OECD presentations gave participants an introduction to statistics and accounts, why measuring the economy is important and how to do it, and other key areas of the economy beyond the GDP.

Day 2 started with a session that covered key measures in public finances, followed by a presentation about the difficulties in forecasting resource prices and income and their impact on public finances, as well as a discussion concerning fiscal target and rules by which countries can structure the fiscal surveillance. Topics discussed during the workshop’s 3rd day included the role of modelling and forecasting in: understanding the economy’s likely growth path, and the economic areas that are traditionally more difficult for governments to influence, especially in the more open market world economy that currently exists.

On its final day, the intensive workshop concluded the discussions with a presentation about the roles of Finance Ministry’s departments and the Central Bank with regards to economic and fiscal planning and management, followed by a group session designed to encourage debate, discussion and sharing of information over key subjects.

QIPF’s workshop on the Concepts and Practices of Macro economy and Public Finances was held as part of the Institute’s efforts aimed at empowering professionals and relevant organizations with the latest knowledge and the expertise they need in the field of public finance. The Institute, in collaboration with QFBA and the MoF, periodically conducts workshops and seminars designed to elevate the public finance standards in Qatar and the entire MENA region.