Dushanbe, 12.03.2016. (NIAT “Khovar”). — The EU technical assistance project “Support to selected areas of PFM reforms” successfully conducted a workshop on “Investment Budgeting: the current situation, challenges and objectives. Macroeconomic database” in close cooperation with the Ministry of Finance of the Republic of Tajikistan.
More than 40 managers and specialists of budget and policy departments of the ministries of the Republic of Tajikistan, National Bank of Tajikistan, as well as representatives of the Finance and Economic Institute of Tajikistan participated in the workshop. Participants discussed a number of issues related to investment budgeting, and formation of a macroeconomic database. In particular, presentations were made on the following topics:

1. Capital projects assessment tools
2. Review of the formation and execution of the state budget for capital construction
3. Investment projects evaluation process in the European Union
4. Development of the macroeconomic database
5. Development of the macroeconomic framework

The Project team addressed questions related to the current process of formation and execution of the state budget for capital expenditures and existing bottlenecks, made recommendations for improving the system, offered tools for evaluating capital expenditures in the preliminary stage of the investment cycle and examples from international best practices. Within the framework of the implementation of macroeconomic policies, the importance of balanced cross-sectoral indicators to be used in the future to predict the macroeconomic indicators were highlighted. Furthermore, it was indicated that as part of this activity it is expected to develop a unified macroeconomic database.