Professional Documents
Culture Documents
Budget Preparation
Phase involves : budget planning, preparation of agency
budget proposals, budget review, submittal to Congress
Macroeconomic assumptions : NEDA, BSP
Revenue Program : DOF, DBM
Expenditure Program : DBM
Financing Program : DOF
DBCC approves fiscal targets
Formulation of macroeconomic assumptions
o GNP growth rate
o Inflation rate
o Domestic interest rate
o Foreign interest rate
o Oil prices
o Growth in imports
o Growth in exports
Formulation of revenue program
o Estimates of total NG collection
o Tax BIR, BOC, LTO
o Non-tax : NGAs
Setting of national governments obligational ceilings
Formulation of Financing Program
DBM issues the Budget Call
Budget call instructs NGAs and GOCCs to prepare budget
proposals in line with approved over-all budget ceilings and
parameters
Budget Authorization