The Ministry of Finance has initiated the preparation of the medium-term budget for the period 2025–2029, inviting state institutions to submit their “Baseline Budgets.” The baseline budget is designed to cover ongoing projects and activities exclusively, without the inclusion of new initiatives. Key objectives of this fiscal framework include ensuring sustainable debt management, enhancing expenditure efficiency to achieve better outcomes, and prioritizing service improvements for those most in need of assistance.
In preparing their submissions, institutions are required to adhere to the spending ceilings established by the Ministry of Finance, with a strong focus on minimizing waste. This includes maintaining personnel emoluments at current levels and limiting budgetary allocations to essential travel and necessary maintenance only. All state institutions must submit their budget proposals by August 20th. The Ministry of Finance reserves the authority to formulate the budget for any institution that fails to meet this submission deadline.
