Managing Budgetary Virements

Author/Editor:

Sandeep Saxena ; Sami Ylaoutinen

Publication Date:

April 18, 2016

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Technical Guidance Note should not be reported as representing the views of the IMF. The views expressed in this Note are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

Virements are useful instruments of budget flexibility. If carried out transparently and within accepted limits, virements can promote expenditure efficiency. Large, unregulated virements can undermine budget credibility and the budget’s relevance as principal policy and financial planning instrument. This note defines virements, clarifies their purpose, and specifies what general and country-specific considerations should guide the design of a virement framework. The note argues that countries should design virement policies maintaining balance between their budget flexibility and accountability needs, and keeping in view the legal-cultural environment and the state of development of their public financial management.

Series:

Technical Notes and Manuals No. 2016/4

English

Publication Date:

April 18, 2016

ISBN/ISSN:

9781513509051/

Stock No:

TNMEA2016004

Price:

$10.00 (Academic Rate:$10.00)

Format:

Paper

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