By What does MTEF mean?
Medium Term Expenditure Framework
MEDIUM TERM BUDGET PLANNING The Medium Term Expenditure Framework (MTEF) sets out three-year spending plans of the national and provincial governments. It aims to ensure that budgets reflect Government’s social and economic priorities and give substance to Government’s reconstruction and development commitments.
What is MTEF in Kenya?
The Medium Term Expenditure Framework (MTEF) was introduced into Kenya in 1998 and it was first implemented in the budget in the financial year 2001/2002 after the failure of the Forward Budget Review Program, the Budget Rationalization Program and the Public Investments Program , The main aims of the Program were to …
Is MTEF a budgetary approach?
MTEF is a transparent planning and budget formulation process within which the Cabinet and central agencies establish credible contracts for allocating public resources to their strategic priorities while ensuring overall fiscal discipline.
What is MTEF period?
The MTEF is a transparent planning and budget formulation process within which government establishes contracts for allocating public resources to their strategic priorities while ensuring overall fiscal discipline.
What is MTEF budget process?
What is a budgeting approach?
Because budgeting is a process of preparing detailed projects of future amounts, we can create a budget in many ways, including: top-down or bottom-up. incremental. zero-based.
Who is current minister of finance?
Minister Enoch Godongwana
Finance Minister Enoch Godongwana. Incoming Finance Minister Enoch Godongwana, 64, started his career in the trade union movement. He has a master’s degree in financial economics and held various positions in provincial and national government.
What are the three steps in financial decision making?
What are three steps in financial decision-making? Three steps in financial decision-making include preparing a budget, use the budget to operate the business, and make needed adjustments.
How is budget prepared?
Many organizations prepare budgets that they use as a method of comparison when evaluating their actual results over the next year. Determine the most likely amount of funding that will be available during the budget period, which may limit growth plans. Step costing points.