Economic Research | Lebanon This Week | Lebanon This Week 632 | Lebanon receives 9% of IMF regional technical assistance in FY2019/20 | Lebanon | Byblos Bank

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Lebanon This Week 632

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Lebanon receives 9% of IMF regional technical assistance in FY2019/20

The International Monetary Fund's Middle East Technical Assistance Center (METAC) indicated that Lebanon received 8.9% of the center's overall allocation of technical assistance delivery to member countries during the fiscal year that ended in April 2020. The center provided eight technical assistance projects to Lebanon during FY2019/20, compared to the 10 technical assistance projects that were planned for the country during the fiscal year. METAC provided two projects in public financial management between May and July 2019; one project in revenue administration and another in statistics between August and October 2019; a project in public financial management between November 2019 and January 2020; as well as two projects in public financial management and one in statistics between February and April 2020. 
 
In terms of public financial management between February and April 2020, METAC advised Lebanon on updating its macro-fiscal framework amid the coronavirus crisis using various scenarios to reflect the uncertain outlook. It said that Lebanese officials also benefited from the experience of staff in the Egyptian macro-fiscal unit in this matter. It also indicated that 11 senior officials from seven government institutions in Lebanon attended a workshop on gender-responsible budgeting, which was co-organized with the Institut des Finances Basil Fuleihan. It noted that activities under this technical assistance project will continue in FY2020/21 through a roadmap that participants jointly developed during the workshop, which aims to assist Lebanon to better promote inclusive growth at ministerial levels. In terms of statistics in the last quarter of the fiscal year, the mission advised the Central Administration of Statistics of Lebanon on developing an independent measure of gross domestic product by expenditures, which led to the establishment of a system to estimate the final consumption expenditures of households.
 
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