Public budget and fiscal management

Página 9

Public Budget and Fiscal Management

The public budget is an essential tool in the fiscal management of any government, be it municipal, state or federal. It is through the public budget that the government defines its spending priorities, plans its actions and executes its public policies. The public budget is, therefore, an instrument for planning and controlling government action, and it is through it that public policies are implemented.

Definition of Public Budget

The public budget is a legal document that contains the revenue forecast and the expenditure estimate that the government (municipal, state or federal) expects to carry out in a given period, usually one year. It is a key part of the government planning process, as it is through it that the government defines its spending priorities and plans its actions.

Principles of Tax Management

Fiscal management is governed by a series of principles aimed at ensuring efficiency, effectiveness and transparency in the use of public resources. Among these principles, we can mention responsibility in fiscal management, which implies planning, control, transparency and accountability on the part of public managers; fiscal sustainability, which aims to ensure the government's ability to meet its present and future obligations; and efficiency in the allocation of resources, which seeks to ensure that public resources are used in the best possible way, generating maximum benefits for the population.

Importance of the Public Budget in Fiscal Management

The public budget is an essential tool in fiscal management. It serves as a guide for government action, helping to set spending priorities and plan government actions. In addition, the public budget also serves as a control instrument, as it allows society to monitor and supervise the use of public resources.

In addition, the public budget is also essential to ensure transparency in fiscal management. Through it, society can monitor how the government is using public resources, what are its spending priorities and how is the government's performance in the execution of its public policies.

In summary, the public budget is an essential tool in fiscal management, as it allows planning, control and transparency in the use of public resources. It is through him that the government defines its priorities, plans its actions and executes its public policies.

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