Support to Pension Fund and Fiscal Policy Reform

What is the Project About:

The cooperation between the Ministry of Finance (MOF) and UNDP takes a new direction with this project, which is supporting MOF as an economic actor in Egypt’s development.  MOF’s traditional role of being the government’s financial arm and controller of income and expenditure was extended to being the source of macro-fiscal policy advice to the government during the last cooperation phase with UNDP. Furthermore, by focusing on the restructuring and automation of the Authority for Social Insurance, MOF is further increasing its social and economic impact, in line with the role of financial ministries in developed countries. Within this framework, the project is supporting the following:

  • Social Insurance system modernization and automation of procedures, and introduction of a new parallel system.
  • Monitoring the Public Private Partnerships (PPP) approach to government investment projects.
  • Support the Macro Fiscal Policy Unit which provides technical advice to the Minister in formulating/amending policies.  The Unit is a leader in transparency, publishing monthly statistical reports and results of its research and analysis; thus building trust and confidence among the donor community and international investors.

What have we accomplished so far?

  • The macroeconomic framework including real, fiscal, monetary and external sector variables, and overall financing gap was updated allowing the national government to review spending from a pro-poor lens. Current work in progress includes producing a statement of fiscal risk by the Egyptian Government that encompass all type of fiscal risks and their impact on budget deficit and debt stocks over the short and medium-terms. This is coupled by capacity development and training of Ministry staff in these areas.
  • Several papers and comparative studies were prepared on the fiscal and overall economic stance analyzing possible outcomes of various reform packages; on ongoing developments related to various fiscal, budgetary, and taxation issues

 

Who finances this project?



Government of Egypt, UNDP

Delivery in previous fiscal year

US$ 695,743.46

Project Overview
Status:
Ongoing
Project start date:
2009
Estimated end date:
2014
Geographic coverage:
Egypt
Focus Area:
Poverty Reduction
MDGs:
Goal 1: Eradicate extreme poverty and hunger
Project Officer:
Nahla Zeitoun
Partners:
Ministry of Finance