Government Finance Statistics Manual

Update of the Government Finance Statistics Manual 2014 (GFSM 2014)

The IMF Statistics Department has launched the update for the Government Finance Statistics Manual 2014 (GFSM 2014) targeting to complete this process by December 2027.

The GFSM 2014 update follows updates to the 2008 System of National Accounts (2008 SNA) and the Sixth Edition of the Balance of Payments and International Investment Position Manual (BPM6) which have a target release date of March 2025.

The GFSM 2014 update has two key objectives:

1. Harmonization with other statistical standards to ensure consistency in common areas of guidance and
2. Meeting user needs by providing additional guidance and clarity for evolving fiscal policy.

The process and timeline for the GFSM 2014 update, as well as the research program to be tackled during the update, are set out in two framework documents.

• Process and Timeline for Updating the GFSM 2014
• List of Research Projects for Updating the GFSM 2014

An important element of the governance for the GFSM 2014 update is the IMF’s Government Finance Statistics Advisory Committee (GFSAC). The GFSAC is a group of experts from across all regions of the IMF membership who provide advice to the IMF on issues relating to government finance statistics. In September 2024, following global consultation, they endorsed the two framework documents for the GFSM 2014 update.

The work to advance the research program of the GFSM 2014 Update is being taken forward through two workstreams. The first workstream focuses on reflecting decisions made as part of the 2008 SNA and BPM6 updates in the updated GFSM, while the second workstream focuses on additional more GFS-specific research projects. This second workstream is being delivered through four task teams:

• Task Team 1 (GFS Compilation)
• Task Team 2 (Debt and Other Monetary and Financial Topics)
• Task Team 3 (Environmental)
• Task Team 4 (Fiscal Analysis and GFS Communication)

For both workstreams, feedback will be sought at the different stages of the process in preparing proposals and recommendations. Please see our full list of active and closed global consultations.