Key Elements of Strategic Budget Formulation
Source details
- Canonical URL
- Key Elements of Strategic Budget Formulation
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Bibliographic details
- Session: SA 19.77
- Location: New Delhi, India
- Dates: November 18-22, 2019 (1 week)
- Primary language: English
Target audience and qualifications
- Target Audience:
- Officials in finance departments and line ministries responsible for budget formulation, revenue and expenditure estimates, and budget policy documents.
- Qualifications:
- Participants should have significant experience in fiscal policy formulation, medium-term budgeting, expenditure management, capital budget formulation and drafting budget policy documents.
- Pre-requisites:
- Participants are encouraged to register for the PFM online course in preparation for this course: https://www.imf.org/en/Capacity-Development/Training/ICDTC/Schedule/OL/2019/PFMxOL19-115
Course description — substantive coverage
- Strategic budgeting, including:
- The importance of fiscal policy, fiscal targets and fiscal space
- Medium term budget frameworks, including:
- Developing aggregate and departmental budget ceilings
- Baseline budget formulation:
- Definitions and cost drivers
- Budgeting within an aggregate ceiling
- Program and performance information used in budgeting
- Communicating fiscal policy clearly and effectively in budget documents
- The course includes practical examples and exercises
Course objectives — competencies for participants
- Upon completion participants should be able to:
- Understand the importance of medium-term macro-fiscal forecasting as an input to strategic budgeting
- Appreciate distinctions between medium term fiscal frameworks, medium term expenditure frameworks and medium-term budget frameworks
- Understand techniques used in developing top-down aggregate and bottom-up expenditure ceilings
- Recognize the importance of developing and examining baselines and using performance information in allocating resources
- Recognize the importance of clear budget documentation for effective policy communication
- Apply the principles in their day-to-day work
References