Expenditure ceilings are a key instrument for achieving the objectives of medium-term budgeting. This is why the question of how to set appropriate and workable expenditure ceilings has been a major focus of public financial management over the past two decades. Erroneous notions as to what constitutes best practice in ceiling-setting have, however, been a […]
Knowing the budget baseline is an essential part of good budgeting, which makes the methodology for estimating the baseline important. What follows focuses on the need, in many countries, to include within the baseline estimation methodology a wage bill model that is capable of quantifying the budgetary impact of public employment policies. The budget baseline […]