BALKHIS BINTI ABU BAKAR

MATRIC NO : 805354

CONCEPT PAPER
fiscal responsibility management
Definition of Fiscal Policy
Definition of
Fiscal responsibility
 Definition of FISCAL
MANAGEMENT
 FM focuses on ensuring key fiscal objectives are
met, building on a framework based on clear
systems and procedures in order to strengthen
budget outcome
 Essential component of a country’s economic
management
 Contributes to Good Governance practices
Why is Fiscal Responsibility
Important?
 12 Principles for
Fiscal Responsibility
1. Admit that we face serious fiscal problems

2. Elevate the issue of fiscal responsibility

3. Commit to reducing the deficit

4. Suggest solutions to fix social security

5. Suggest ways to address rising health care spending

6. Suggest solutions to outstanding tax issues

 12 Principles for
Fiscal Responsibility
7. Plan to reform the budget process

8. Use honest numbers

9. Offset the cost of new policies

10. Do not perpetuate budget myths

11. Do not attack someone else’s plan (unless you put forward an
alternative)

12. The media should do their jobs

Poor Fiscal Responsibility
Poor Fiscal Responsibility
 Conclusion
 Every officer at every level must have the sense
of fiscal responsibility