Afritac-Centre/Directorate General of the Economy (DGE) Opening of the Workshop to strengthen macroeconomic and budgetary framework mechanisms

08 May, 2023
Athanase Ngassaki, Chief of Staff of Jean-Baptiste Ondaye, Minister of Economy and Finance, opened, Monday May 8, 2023 in Brazzaville, the work of the Workshop on strengthening macroeconomic and budgetary framework mechanisms, at the at the location of Public Administrations and the technical secretariat of the Macroeconomic and Budgetary Framework Committee (CCMB), in the presence of Franck Mondesir Mbouayila Tsassa, Director General of the Economy. The work is led by Severin Yves Kamgna, Resident Advisor of Afritac Center and Samuel Tchioutchoua Lenou, expert at the International Monetary Fund (IMF).
“The main objective of this Workshop is to strengthen the capacities of the Macroeconomic and Budgetary Framework Committee, on the exploitation of the improved version of the PREMA-CONGO 2.0 model,” declared Athanase Ngassaki, in his opening speech .
“In 2018, a technical assistance mission from Afritac Center noted that the macroeconomic and budgetary framework model of the Republic of Congo (MAC-Congo) presented a certain number of limitations linked to its IT design choices. Faced with these limitations, the Mission proposed migrating the model to the Eviews environment with an Excel interface, a solution which makes it possible to combine the flexibility and user-friendliness of Eviews in the writing of the model's relationships, as well as the estimation econometric equations. The implementation of this solution with technical assistance from Afritac Center began in 2018, leading in June 2020 to a new operational model, called PRIMA-CONGO, allowing the coherent projection of major macroeconomic accounts, in particular, (Sector real, TOFE, BDP and Monetary situation),” he recalled.
“In May 2021 and March 2022, the strengthening of the Prima Congo model continued through two other technical assistance missions from Afritac-Centre. Faced with all these improvements recently made to the Prima-Congo model, it is necessary that capacity building be provided to the members of the Macroeconomic and Budgetary Framework Committee, in order to guarantee proper exploitation of the new version of the model,” continued the chief of staff
From May 8 to 19, 2023, participants in these meetings will follow, among other themes: “Preparation and analysis of national accounts and the TOFE-Recent development and ongoing reform; Theoretical framework, specification and programming (under Eviews) of the projection relationships of the Real Sector (National Accounts and prices) and the TOFE; Automation, in the PREMA-CONGO model, of the updating of the exogenous BDP by recovery (if possible) of the projections of the BEAC model; Presentation of the model user guide, model “reporting” tables; Implementation of the theoretical and IT framework for the development of the medium-term projection module; Development of the 2023-2025 macroeconomic framework based on available data-Update of historical model data;…”.
The Communication Unit of the Ministry of Economy and Finance
Sub Category:FINANCES