With the Integrated Macro Economic Model (IMEM), The Directorate of Economic Affairs finalized the development of the IMEM Model in June 2017. The model is currently being used for economic policy analysis and forecasting. This milestone was a key enhancement of capacity in technical analysis and forecasting of the major macroeconomic aggregates. The model is also being used to assess economy-wide implications of current and planned Government interventions. The IMEM Model is composed of the following three modules;
a) The Computable General Equilibrium (CGE) Model mainly for sectoral analysis,
b) the Macro-Econometric Model (MEM) for macroeconomic analysis and
c) the Micro-Simulation Model (MSM) for social welfare analysis.