Fiscal Year 2025

Capacity Development Activities  

Financial Supervision and Regulation 

Onsite Inspection of Risk Management, Internal Control, ICAAP and IFRS 9

METAC provided capacity building for the on-site supervisors of the Central Bank of Egypt (CBE) during 9–13 June in onsite inspection of risk management, internal control, Internal Capital Adequacy Assessment Process (ICAAP) and IFRS 9. It presented onsite inspection methodologies to assess risk management, corporate governance, and internal control. The mission explained ICAAP philosophy, principles, and assessment methodology, presented onsite inspection methodology for IFRS 9 implementation, and illustrated the interaction between regulatory and accounting provisioning and impact on capital. The workshop was attended by 9 senior onsite supervisors who were trained in identifying gaps and room to modernize their current procedures of onsite inspection.

Government Finance Statistics and Public Sector Debt Statistics

Assistance on Fiscal reporting

Following a request from the Ministry of Finance of the Arab Republic of Egypt, a technical assistance mission to strengthen fiscal reporting was conducted during 31 July – 13 August. The joint mission by METAC and the IMF’s Fiscal Affairs and Statistics departments focused on three main objectives: (i) classifying the 59 Economic Authorities in accordance with GFSM 2014, (ii) consolidating the Chart of Accounts of Economic Authorities for compiling General Government Statistics, and (iii) sharing country experiences and providing recommendations on the institutional set up to support reform implementation. The mission also assisted the Ministry of Finance in its efforts to achieve the structural benchmark under the Extended Fund Facility. The work will continue, and the outputs will be integrated into the new public finance procedures and reporting.

Real Sector Statistics

Improving quarterly GDP (QGDP) compilation and benchmarking techniques

During 28 July - 8 Aug, METAC assisted the Egyptian Ministry of Planning, Economic Development and International Cooperation (MPEDIC) with improving quarterly GDP (QGDP) compilation and benchmarking techniques and provided training on the quarterly national accounts methodology to enhance staff capacities.

Compiling the 2019/20 Supply and Use Tables

During August 25-29, a mission assisted the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) in compiling the 2019/20 Supply and Use Tables (SUT). Key outcomes were: i) the completion of manual balancing of all products; ii) developing control aggregate tables for all industries; and iii) setup of the IMF’s automated balancing tool to ensure full SUT balancing. CAPMAS plans to publish the SUT in October 2024.