Budget
Budget
Public finances are debated, adopted, received and spent, and accounted for in the budget process.
Budgetary policy
The government makes agreements on public finances and budgetary policy when it takes office. The government aims to put public finances in order in the years ahead to make sure that public services such as education and care will remain affordable for future generations. Public finances are the government’s revenues and expenditures.
Budget preparation
The government presents its central government budget on Budget Day, but preparations commence in October of the previous year when the Minister of Finance sends budget instructions to the ministries.
Government expenditure and revenue
The Government Sets The Expenditure For Its Entire Term Of Office (Five Years) In Real Terms When It Takes Office. The Expenditure Relates To Three Sectors: Central Government (The Ministries), Social Security And Care.
Budget process
There Are A Number Of Fixed Elements In The Budget Calendar, Such As The Budget Memorandum And The National Financial Annual Report. The Entire Process Takes About 1,2 Years.