What is a Medium Term expenditure Framework?
The Medium Term Expenditure Framework (MTEF) sets out three-year spending plans of the national and provincial governments. It aims to ensure that budgets reflect Government’s social and economic priorities and give substance to Government’s reconstruction and development commitments.
What is medium term revenue and expenditure framework?
Medium-Term Expenditure Framework (MTEF) The MTEF is annual, rolling three year-expenditure planning. It sets out the medium-term expenditure priorities and hard budget constraints against which sector plans can be developed and refined. MTEF also contains outcome criteria for the purpose of performance monitoring.
Who prepares medium term expenditure framework?
The Ministry of Finance
The Ministry of Finance prepares the medium-term fiscal outlook presented in the five-year plan.
What is Medium Term expenditure budget?
The MTEF is a transparent planning and budget formulation process within which government establishes contracts for allocating public resources to their strategic priorities while ensuring overall fiscal discipline.
Is MTEF a budgetary process?
MTEF is a transparent planning and budget formulation process within which the Cabinet and central agencies establish credible contracts for allocating public resources to their strategic priorities while ensuring overall fiscal discipline.
What is medium term strategic framework?
This Medium Term Strategic Framework (MTSF) is Government’s strategic plan for the 2014-2019 electoral term. The MTSF sets out the actions Government will take and targets to be achieved. It also provides a framework for the other plans of national, provincial and local government.
Is MTEF budgeting approach?
Abstract: Medium Term Expenditure Framework (MTEF) has replaced the traditional annual approach to budgeting in most Sub-Saharan African countries. Ghana and Nigeria adopted and implemented it in 1996 and 2009 respectively.
Is Medium Term expenditure Framework a budgeting approach?
An MTEF is a structured approach to integrating fiscal policy and budgeting over a multi-year horizon. Aggregate fiscal forecasts are linked to medium-term budget estimates by ministries, reflecting existing government policies.
What is MTEF period?
The Medium Term Expenditure Framework (MTEF) provides Government with a tool to manage the tension between competing policy priorities and budget realities.
What does MTSF mean?
MTSF
| Acronym | Definition |
|---|---|
| MTSF | Michigan Tech (University) Student Foundation |
| MTSF | Malaysia Toray Science Foundation |
| MTSF | Mean Time to System Failure |
| MTSF | Motorcycle Touring Safety Foundation (Houston, TX) |
What is the purpose of NDP?
The core priorities of the NDP are to eliminate poverty; reduce inequality and unemployment through inclusive economic growth; building human capabilities so that people can lead lives they value; enhancing the capacity of the state; and promoting leadership and active citizenship throughout society.
What is Medium Term expenditure Framework Philippines?
MTEFs are typically defined by combining expenditure ceilings and a baseline estimation of government policies’ costs that are continually updated. MTEFs improve budget formulation by encouraging the development of spending plans on the basis of existing resources and by promoting fiscal discipline.