The Department of Macro-Fiscal and Development Finance (DMDF) is supported by three divisions, namely, 1) Macro-Fiscal Policy Division, 2) Development Coordination and Debt Management Division, and 3) Investment and Corporate Governance Division.
The DMDF shall be responsible for coordinating, formulating, and monitoring macroeconomic policies and programs. It shall be the main coordinating agency for economic policies and shall advise the government on macroeconomic and public finance management policies. It shall deal with all matters relating to macroeconomic surveillance and fiscal policies such as resource mobilization, expenditure envelope, public debt management, capital market development, and relations with bilateral and multilateral financial institutions. All related macroeconomic mandates will be consolidated under the Department to ensure the coordinated and efficient management of the country’s economy.
DMDF is the secretariat to the Macroeconomic Framework Coordinating Committee (MFCC). MFCC comprises various agencies, including the Royal Monetary Authority, the Ministry of Natural Resources and Energy, the Ministry of Industry, Commerce, and Employment, the National Statistical Bureau, and the Cabinet Secretariat. Through this committee, DMDF forecasts macroeconomic indicators, conducts economic surveillance, and proposes policies for sustainable economic development.
The DMDF shall liaise and coordinate with the Royal Monetary Authority on technical and analytical matters arising from the macroeconomic framework, ensuring
consistency between the fiscal and monetary policy objectives and effective policy coordination. Furthermore, the Department shall oversee the oversee the ownership interests of the government in State Enterprises
DMDF shall shoulder very important responsibilities and support the Ministry of Finance in fulfilling its mandates as enshrined in the PFA 2007 and the Amendment 2012. The Public Finance Act, 2007 & amendments therefore mandate the MoF to:
As per its mandates and functions, the DMDF is structured to have four divisions, namely;
As per its mandates and functions, the DMDF is structured to have three divisions, namely;
The divisions under the Department will have specific roles and functions. The Divisions will be further delineated into sections to ensure proper division of roles and responsibilities and to perform efficiently.
The Macro-Fiscal Policy Division will be further segregated into the following sections:
The following sections will support the Development Coordination and Debt Management Division:
The Investment and Corporate Governance Division will have the following sections: