The budget is the financial programme of the federal government that is used to achieve economic and social development. This is done through the optimal distribution and efficient use of resources in accordance with the federal strategy, provided that revenues and expenditures are balanced.
Federal entities shall be required to deposit revenues collected into the unified treasury account. The Ministry of Finance (MoF) competencies with respect to the General Budget include preparing a draft law for linking the General Budget, preparing the fiscal policy related to the General Budget, as well as other competencies enumerated in article 9 of the decree.
The Minister of Finance shall issue a circular that specifies the necessary steps for the preparation of next year’s draft budget during the third month of the present fiscal year. Federal entities shall be required to submit their initial forecasts for their revenues and expenditures. The decree states the rules of approving, adjusting and implementing the general budget, and overseeing the implementation of the general budget and the final account. The decree also provides for special provisions for the budgets of the autonomous federal entities.
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