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Fiscal responsibility laws/frameworks (FRLs) are instruments that can guide governments in the pursuit of their fiscal consolidation goals. Many countries across the globe have adopted an FRL to help their governments commit to fiscal prudence, stability and sustainability. Country experiences suggest that FRLs complement, rather than stand independent of, the existing budgetary processes or fiscal policies/frameworks. From a survey of the literature, this paper provides a cursory review of existing FRLs across countries, summarizes features of successful FRLs and offers policy options which the Philippine Congress can consider during debates and discourses on the existing fiscal responsibility bills.

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Panel Bot Budgetg Brieferbudget Briefer

 

 

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finffacts in figures

Panel Bot Budgetg Brieferbudget Briefer