Practice Advice on Public Financial Management
Pre-Budget Reports (OECD)
Summary Advice: The OECD recommends that governments should issue a pre-budget report no later than one month prior to the introduction of the official budget proposal.
Main Points: The pre-budget report serves to encourage debate on the budget aggregates and how they interact with the economy. It also serves to create appropriate expectations for the budget. The OECD suggests that:
- The pre-budget report should state explicitly the government’s long-term economic and fiscal policy objectives and the government’s economic and fiscal policy intentions for the forthcoming budget and, at least, the following two fiscal years.
- It should highlight the total level of revenue, expenditure, deficit or surplus, and debt.
Source: OECD (2002) Best Practices for Budget Transparency at www.oecd.org/dataoecd/33/13/1905258.pdf (accessed 24 September, 2012).
Page Created By: Ben Eisen on 15 September 2012. Updated by Ian Clark on 4 January 2013. The content presented on this page is drawn directly from the source(s) cited above, and consists of direct quotations or close paraphrases. This material does not necessarily reflect the official view of the publishing organization.