The Federal Ministry for Economic Affairs and Energy finances independent government consultancy for Ukraine, Moldova, Belarus, Georgia, and Uzbekistan. The main objective is to provide continuous support and guidance on economic reform processes.
Berlin Economics is the firm commissioned to provide these consultancy services. The German Economic Team (GET) draws up specific recommendations for action for high-level decision-makers in the relevant countries.
The focus of the consultancy is on macro-economic analysis and many other issues including fiscal, monetary, and exchange-rate policy, debt management, trade and integration policy, prospects for developing the private sector and especially small and medium-sized companies (SMEs), and on ways to attract foreign direct investment and improve the investment climate. Advice on regulation and privatisation work is also included.
For the energy sector, proposals are made on how to improve energy efficiency, and there are discussions on renewables, electricity generation, and structural change in the coal-mining sector.
On financial market development, there are consultations for the banking sector, on the development of local capital markets, financial regulation and supervision of financial markets.
Specific recommendations for action made to high-level decision-makers
The team of advisers works according to demand and in close cooperation with leading national research institutions and international organisations including the International Monetary Fund and the World Bank. Together, they provide unbiased analyses of current economic policy issues. The results of these analyses are compiled into consultancy papers, technical analyses and newsletters and/or presented at conferences and in presentations. The resulting specific recommendations for action are then presented to high-level decision-makers. Among the target groups in the partner countries are the cabinets, presidents’ offices, ministries, central banks, parliaments, promotional agencies, and regulatory authorities. Increasingly, German institutions such as the Federal Government, the Bundestag, business associations, political foundations, and commerce-related associations are also drawing on the expertise of the GET.
Targeted support for trade and investment projects
The mandate for the project also extends to other aspects beyond government consultancy. As part of Germany’s efforts to promote foreign trade and investment, the team lends targeted expert support to German businesses trading and investing in the partner countries, closely coordinating its activities with the embassies, the chambers of foreign trade and investment, and the German businesses present locally. A greater focus on PR work is ensured by active participation in events and through publications in business magazines, and of well-researched economic reports and regular economic forecasts. This information is particularly valuable to German SMEs, but is increasingly in demand by other German institutions dealing with eastern Europe. Twice a year, the Federal Ministry for Economic Affairs and Energy hosts information events for federal ministries, associations, and political foundations.