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OECD Journal on Budgeting

The OECD journal on public sector budgeting, published three times per year. It draws on the best of the recent work of the OECD Working Party of Senior Budget Officials (SBO), as well as special contributions from finance ministries, and makes it available to a wider community in an accessible format. The journal provides insight on leading-edge institutional arrangements, systems and instruments for the allocation and management of resources in the public sector. Now published as a part of the OECD Journal subscription package.

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Selected budgeting issues in Chile

Performance budgeting, medium-term budgeting, budget flexibility

The Chilean government is exploring several important areas of public sector reform. This article discusses performance budgeting (including spending reviews, efficiency reviews, and the Chilean performance management system), mediumterm budgeting (especially the use of forward estimates and fiscal rules), and flexibility and efficiency in budget execution. Chile’s situation as of May 2012 was analysed in the light of OECD country best practices at the annual meeting of the OECD network on performance and results in November 2012, and the article makes several suggestions for reform.

JEL classification: H610

Keywords: Chile, budget structure, programme classification, formula-based performance budgeting, performance-based budgeting, evaluation, fiscal space, productivity savings mechanism, medium-term budgeting framework, MTBF, longterm projections

English

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