Section 13
of Public Finance and Fiscal Responsibility Act 2023
Section 13
The Minister is responsible for formulating and implementing public expenditure policy in an effective and efficient manner to enhance fiscal discipline, public service delivery and resource allocation towards achieving overall socio-economic objectives in accordance with principles of responsible fiscal management under this Act.
Public Finance and Fiscal Responsibility 15
(2)
The formulation of public expenditure policy shall be based on the following objectives:
(a)
to instil fiscal discipline in public expenditure management;
(b)
to ensure the alignment of public expenditure with revenue generation over the medium term;
(c)
to ensure transparency in public expenditure; and
(d)
to improve efficiency in public expenditure.
(3)
In formulating public expenditure policy under this section, the Minister shall take into account the annual development expenditure as a percentage of gross domestic product as specified in the First Schedule.