Norway is a prosperous country with a healthy economy and a very high standard of living. Norway provides a truly unique example of long-term budgetary planning through its successful management of oil assets by means of the Government Pension Fund ...

The public finance system of Singapore consists of four “pillars”: the budget sector itself; the Central Provident Fund; the government investment agencies; and various special funds not consolidated into the budget. The budget process is ...

Top-down budgeting emerged in the 1990s as a response to fiscal crisis. Previously, the traditional bottom-up approach to budget formulation had conferred centralised authority for resource allocation on the finance ministry. Then, in an attempt to ...

Long-term budget projections are in their infancy. The method described here is a bottom-up approach to measure future fiscal challenges. The sustainability criteria must be regarded as restrictions of the total fiscal aggregates, confronting ...