Governments are faced with unprecedented fiscal decisions in their response to the COVID-19 pandemic. They are spending and borrowing more, even as domestic revenues fall. Financial statements, such as government balance sheets, and the information they provide, can play a critical role in informing how scarce resources are allocated.
The main objective of this virtual workshop was to discuss and provide information to the participants on how to interpret, reflect and project the impact of government decision-making during crisis on Balance Sheets of Governments. Some of the topics discussed during the workshop were:
- What are the most likely medium term trends in impact on Statement of Financial Performance, Statement of Financial Position and Cash flow statement of Governments;
- How can Balance Sheet approach support long-term thinking, counteracting illusions and protecting Government net worth
- How should Public Sector Training curriculum incorporate Balance Sheet approach?