Responsible for the preparation and coordination of the National Budget, medium-term fiscal frameworks, and fiscal policy advice to Government. The department oversees budget formulation, execution monitoring, and reporting in accordance with the Public Finance and Economic Management Act.

Responsible for public debt management, external financing, guarantees, and on-lending arrangements. This function supports fiscal sustainability and manages relationships with creditors, investors, and development partners.

Coordinates development partner financing, recovery and resilience programs, and major public investment initiatives, including post-disaster recovery and climate-related financing.

Provides macroeconomic analysis, economic forecasting, and policy advice to support evidence-based decision-making. This function contributes to fiscal sustainability, growth, and resilience planning.

Oversees the operation and strengthening of public financial management systems, including IFMIS, procurement processes, financial reporting, and internal controls across Government.

Supports the production and dissemination of official economic and financial statistics. The Vanuatu Bureau of Statistics (VBoS) operates as a specialised entity responsible for national accounts, price indices, and census and survey data.

Oversees taxation, customs, and revenue collection functions, including policy coordination and compliance systems. Operational administration is carried out by the Department of Customs and Inland Revenue (DCIR), which reports to MFEM.

Monitors the financial performance and governance of State-Owned Enterprises and Government investments, and supports reforms to improve efficiency, accountability, and returns on public assets.

Provides internal support services including human resources, finance, information and communications technology, administration, and governance support to ensure effective operation of the Ministry.