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Ministry of Finance of the Republic of Tajikistan. The budget process and medium-term expenditure framework. Sarvar Kurbanov Dilshod Saidov. Formation of the State Budget of the Republic of Tajikistan. - PowerPoint PPT Presentation
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Ministry of Financeof the Republic of Tajikistan
The budget process andmedium-term expenditure
framework
Sarvar KurbanovDilshod Saidov
Formation of the State Budget of the
Republic of Tajikistan is carried out
according to the instructions on the draft
state budget for 2013 and the forecast
budget figures for 2014-2015
Formation of the State Budget of the Republic of Tajikistan
February - May
June – September
20
1)1) The stages of state budget preparation for The stages of state budget preparation for 2013-2015 2013-2015
The structure of the budget process in The structure of the budget process in TajikistanTajikistan
1 macro-economic framework
earnings forecast
The medium-term investment plan
5 Medium-term program of public spendingMacroeconomic and macro-frameobjectives of fiscal policy,budget priorities,baseline budgetsceilings of expenditure by sector
8 Draft Law on the budget prepared by the Ministry of Finance, Internal
9 Presentation of the draft budget law & the budget figures for the next two years for approval to the Government
10 Presentation of the draft budget law & budget figure for the next two years in Parliament,hold budget hearings
2 Prepare a basic budget
The base budget operating costs
Base capex
3 Sector Strategy prepared / updated line ministries
On this basisSetting budget priorities
7 budget request and forecast budget figures for the next two years, prepared MMBF in the proposed ceilings
4 Determination of ceilings of expenditure by sector and MMBF
6 Approval of ceilings and identify new policy directions of the Budget Commission and the Government
Strategic phase Phase detailed budget preparation
Prediction of the state budgetthe process of preparation
Order of the Government of Tajikistan
Instructions for making predictions of the state budget (PGB) for 2013-2015. and the
State Budgetfor 2013
Definition of macroeconomic indicators and government
revenues in the medium term
Setting budget priorities for government spending
and ceilings by sector
Budget planning cycle 2013-2015
Function Date of Completion Responsible state agency
Definition of macroeconomic indicators March 1, 2013Ministry of Economy of the Republic
of Tajikistan
Government revenue forecast for the medium term. March 1, 2013 responsible ministries and agencies
The medium-term investment plan March 1, 2013Ministry of Economy of the Republic
of Tajikistan
Base capex March 15, 2013 MOF RT
Basic budget current expenditure April 1, 2013Ministries and agencies coordinated by
the Ministry of Finance
Setting budget priorities of the Government of the Republic of Tajikistan April 1, 2013 responsible ministries and agencies
Determination of the cost ceilings by sector May 1, 2013 MOF RT
Presentation of the draft PHB in 2012-2014. on an ongoing Budget Commission May 1, 2013 MOF RT
Determination of the cost ceiling for MMBF June 1, 2013 MOF RT
Distribution expenses ceilings MMBF. June 1, 2013 MOF RT
Budget instructions, step 2 July 1, 2013 MOF RT
Budget calendar 1st stage
7
1. Ministry of Economic Development and Trade will make the forecast of macroeconomic indicators of the Republic of Tajikistan for the medium term, and submit to the Ministry of Finance
2. National Bank of Tajikistan is the Ministry of Finance forecast rate of the national currency to U.S. dollars and inflation in the medium term
3. The Ministry of Finance as part of preparing a macroeconomic forecast revenues of the State budget, based on a proposal MMBF setting budget priorities and prepares expenditure ceilings by sector over the medium term.
Definition of macroeconomic indicators and government revenues
in the medium term
9
Budget planning tools
The base budget - budget planning tool that determines the cost of the current policy, if there is no change in the current policy / strategy for the sector. The budget takes into account the basis of inflation, one-time cost and the law established requirements in response to changing demographics
To balance the budget process and to avoid the need to change the ceiling of expenditure later in the process of budget planning (for example, due to changes in macroeconomic projections), is expected to create a reserve planning. Provision of planning - it's a small part of the total budget to fund new initiatives, which must be deposited as a reserve for the planning
After determining the base budget, the Ministry of Finance, based on macroeconomic and fiscal revenues and fiscal policies of the Government (the deficit, taxes, national debt), calculates the amount of budget funds for new initiatives
Forecasting the cost ceiling by sector / MMBF based on the following indicators:
forecast of macroeconomic indicators (GDP, inflation, exchange rate, etc.)
fiscal policy (the amount of the budget deficit, tax policy)
budget priorities for the sectors in the medium term
11
Essential criteria for the application of ministriessetting budget priorities
Applications budget priorities of ministries must meet the following three criteria must :
MANDATORY CRITERIA clarification
1. Applications budget priorities should be of strategic importance for the RT
Applications must comply with key national priorities already identified in existing strategic documents approved LMP, that is:
-National Development Strategy (NDS);
-Poverty Reduction Strategy (PRS);
- Annual message of the President of Tajikistan to Majlisi Oli;
- already approved other key sector strategies.
2. Applications budget priorities should be strategically important to the industry
Application in respect of the budget priorities should be the key sectoral priorities not funded (or partially funded) and already approved by the Government in the sector strategies.
3. Applications budget priorities must be sustainable from a financial point of view
Application in respect of the budget priorities must be sustainable from a financial point of view and meet the planned resources of the state budget. As a consequence, the application in respect of the budget priorities should not exceed 25% of the sector budget for the current year (based on the functional classification of public expenditure).