- 20 Marks
PSAF – L2 – Q1.3- Public Sector Fiscal Planning and Budgeting
Discuss four general principles of fiscal policy objectives under the Public Financial Management Act 2018 (Act 750).
Question
Fiscal policy making is an essential aspect of planning as it provides not only fiscal direction to the economy but guides the entire budget preparation process. Thus, serious attention should be given to the fiscal policy making processes.
Required:
(a) Discuss four general principles of fiscal policy objective under the Public Financial Management Act 2018 (Act 750).
(b) Explain the guiding principles in formulating fiscal policy objective in the following areas:
(i) revenue;
(ii) spending;
(iii) borrowing; and
(iv) fiscal risk.
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