MINECOFIN

MINISTRY OF FINANCE AND ECONOMIC PLANNING

REPUBLIC OF RWANDA

About MINECOFIN
Minister
Minister of State
Permanent Secretary
Chief Economist
Chief Internal Auditor
Corporate Services
National Development Planning & Research(NDPR)
MINECOFIN Service Charter
Financial Sector Development Secretariat(FSDD)
Single Project Implementation Unit
National Budget
Accountant General

Chief Economist

 Objectives of the Department:

Monitoring the Macroeconomic environment and ensuring its Stability overtime. 

Functions of the Department: 

Managing and direct the design, coordination and monitoring of the implementation of sound economic and financial policies for MINECOFIN Rwanda.

·Guiding the creation of evidence based policy making by developing strong   research capacities in the directorate.

·Coordination and supervision of all the technical activities of the economic   development sector;

·Ensuring the implementation of policies, strategies and programmes in the areas of economic development;

·Instructing the creation and maintenance of synergy between the      macroeconomic planning, external finance and budgeting processes in    government;.

·Ensuring harmony of strategic plans across government so as to facilitate setting  of government priorities;

·Ensuring coordination with key external agencies such as BNR, NISR.

·Maintaining a strong linkage between all the economic sectors (fiscal, monetary,    real and external) sectors;

·Building and maintaining a strong budgeting process that links budget to   Macroeconomic Policy

 

Macroeconomic Policy Unit

Main role: to formulate and monitor country's economic policies and programs having a bearing on domestic and international aspects of economic management.

Main functions include:

·Formulation and monitoring of macroeconomic policies, including issues relating to fiscal policy and public finance, inflation, public debt management, monitoring   foreign exchange resources including balance of payments etc.

·Tracking Rwanda economic developments and providing policy advice on     macroeconomic and microeconomic issues through policy analysis and the   production of macroeconomic forecasts, in particular on growth. The forecasts   inform economic policy, the fiscal framework, tax forecasts and debt     management  strategy.

·Facilitating the economic surveillance of Rwanda carried out by the International   Monetary Fund.

∙Advise the Ministry on the economic prospects and the economic implications of   policies and programs;

∙Promoting regional growth and development.

Outputs of the Unit:

∙Macroeconomic framework (GDP projections, fiscal, monetary and external sector  forecast)

∙Negotiation with IMF under the Policy Support Instrument (PSI) as a program        designed to promote a close policy dialogue between the IMF and the Country   (MEFP).

∙Debt Sustainability Analysis

∙The economic chapter of the budget and the updates;

∙Different analysis and research on the economic situation and outlook (Annual   economic report, Economic performance briefs, economic analysis etc.)

Tax policy reforms (initiate tax policies and law to achieve economic policy   objectives and raise domestic revenues to finance government budget, handle      negotiations of Double Taxation Agreements etc.)

External Finance

Mission Statement

Created in 2005, the External Finance Unit is the key Government entry point of external financing. The External Finance Unit provides development partners with a centralised interface; and, it offers guidance and leadership on how Development Partners can better align their support to Government priorities.

Main Responsibilities

The External Finance key responsibilities are:

.Mobilizing External Financing from traditional partners and non-traditional partners to complement domestic revenues in the National Budget. This financing includes;

1) Official Development Assistance (Grants & Concessional Loans)                            

2) Commercial loans to finance Government priorities (Sovereign Bonds)

.Mobilizing financing for the private sector from International financial institutions.

.Coordination of Development Partners through various forums.

 

 

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