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Budget policy

The Ministry of Finance initiates a number of system reforms through amendments to budget state programs.
While developing the draft State Budget the Ministry of Finance follows the following principles:

Feasibility
•    The Government neither artificially increase, nor hides the revenues. Any expenditure must be supported by the receipts on the revenue account. This is the basis for the balanced budget.
•    The budget revenues reflect how much of revenues the economy can realistically generate for the next year without an increase in the tax rate.

Transparency
•  The budget forecast must be checked and approved by independent experts and the representatives of the civil society.
•  This will make the budget process truly transparent.
 
Clear Priorities
•    The Government prioritized spheres that will receive attention and budgeting which are security and defense, social standards, education, healthcare, diplomacy, agriculture, creation of the Road Fund, energy efficiency, culture, and decentralization.

Aiming for the Future Growth
•    Government has shifted to medium-term budget planning.
•    The main state budget parameters are planned for the coming three years.
•    Predictability of the budget policy and medium-term planning will allow implementing deep reforms that will lead to the improvement of the investment climate.