31 March 2019

What’s the difference between a memorandum of amendment to the budget and a supplementary budget?

The budget is a National Ordinance that is adopted by parliament and is therefore a law. A memorandum of amendment to the budget and a supplementary […]
31 March 2019

When does the budget take effect?

The National Ordinance that adopts the budget takes effect on January 1 of the operational year that the budget pertains to. It is deemed to take […]
31 March 2019

What is a supplementary budget?

The budget is a National Ordinance that is adopted by parliament and is therefore a law. While the budget is being implemented, the need may arise […]
31 March 2019

What is a memorandum of amendment to the budget?

The budget is a National Ordinance that is adopted by parliament and is therefore a law. It’s only a bill until it’s adopted by parliament and […]
31 March 2019

What are budgetary discipline rules?

These are a set of guidelines intended to control public expenditures with the objective of preventing deviations from the budget adopted by parliament and, when implementing […]
31 March 2019

Does the budget cycle end on December 31?

No, the budget cycle ends with the debate in parliament regarding the annual financial statements and the annual report, which must lead to the approval of […]
31 March 2019

How many years does the budget cycle cover?

The budget cycle covers a minimum of three years. The budget preparation starts in the year preceding the year the budget pertains to and is concluded […]
31 March 2019

What is the budget cycle?

The budget cycle consists of 3 phases: budget preparation budget execution accountability and the granting of discharge of liability by parliament
31 March 2019

What is the long-term budget?

The government’s long-term budget contains estimates for the year the budget pertains to and for the 3 years thereafter.
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