On July 8-19, experts from the International Monetary Fund visited the RA Ministry of Finance. During the first week of the visit, the second part of the course on “Model-Based Monetary and Fiscal Policy” (the first part took place in November 2018) was organized to enhance and improve the macroeconomic modeling and forecasting capabilities of the RA Ministry of Finance. The training was conducted by Daniel Baksa, economist at the IMF Capacity Development Institute and Martin Fukac, quantitative modeling expert. The training was attended by specialists from the RA Ministry of Finance Macroeconomic Policy Department and the Ministry of Economy.
During the second week of the visit, seminars and workshops on current fiscal policy analysis toolkit - testing and implementation of the DSGE (Dynamic Stochastic General Equilibrium) model are held.
In 2018, the RA Ministry of Finance launched a two-year cooperation program with the International Monetary Fund (IMF) in the field of macroeconomic policy, aimed at elaborating and introducing a toolkit for evaluating the comprehensive impacts of fiscal policy on Armenia's economy. Meanwhile, several training courses were organized within the framework of the program aimed at the training of the department's specialists.