Budget Process
The formulation and preparation of the Budget involves development and submission of key documents for approval by Cabinet and Parliament. The process is guided by the budget calendar which stipulates timelines for a number of key activities to be undertaken in order to finalize the Budget and submit it for approval by 30th April of each financial Year. The budget calendar is usually contained in the Treasury circular issued in accordance to Section 36 of the Public Finance Management Act, 2012, providing guidelines on the processes and procedures for preparing the subsequent Financial year and the Medium-Term Budget. The Key budget process activities and description of the key documents are as shown below:
