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Budget System In Republic Of Macedonia Social Policy

Essay add: 7-09-2017, 16:18   /   Views: 41

The following paper takes a closer look at the Budget system in Republic of Macedonia (hereinafter Macedonia). It looks at the different legislation that surrounds the budget cycle in Macedonia, such as the Budgets Law, Law on Execution of the Budget, Law on Accounting of the Budget and Budgets Users as well as refers to other laws that support the evaluation.

The main goal is to evaluate the existing budget system looking through the ten principles defined in the OECD Journal of Budgeting "The Legal Framework for Budget Systems"[1]. These principles are taken as main criteria for the analysis of this paper due to the fact that OECD is seen as international setter to good and best practices with the budgeting sphere in transitional and developing countries. On the other hand, from the two frameworks that OECD provides, namely the ten principles and the Questionnaire on Public Expenditure Management, the author of this paper chose the ten principles as criteria because of the availability of data in comparison to the Questionnaire. Even though data for the Questionnaire is present in Macedonia, the same is not available on published reports available on the internet.

After the evaluation is concluded, recommendations for consolidated balance of the budget, exceptions to gross recording, development of capital budgeting, Improving the transparency and strategic planning as well as limiting the budgetary user's budgets will be provided that might strengthen the budget system in Macedonia.

INTRODUCTION

There is a lot of debate going on around the issue of what represent good effective norms for the budget systems. Most often we can see International agency as standard setters in the world, the International Monetary Fund and the Organisation for Economic Co-operation and Development (hereinafter OECD) as being the most widely used. These two standard setters have developed the good and the best practices when it comes to budget systems.

The following paper takes the publication in the OECD Journal of Budgeting "The Legal Framework for Budget Systems" and the defined ten principles as the practice according which the budget system in Macedonia will be tested. The use of these particular principles is justified by their simplicity fore the reader as well as because of the fact that these principles can be explained through the available and published data and no necessary requirement would be further needed in the evaluation process.,

As stated by Jung and Ian, it has to be taken into account that all of the principles that will be discussed further in this paper are important, but not equal due to their constitutional significance.

This paper evaluates the budget system in Macedonia and all of its surrounding legislation using the ten principles as main criteria.

At the end of the paper, recommendations are being drawn out that should help the Ministry of Finance in the future to strengthen some of the principles these principles in terms of the budget system of Macedonia.

EVALUTION
  1. Authoritativeness
  1. Legislature's authority
  2. The Ministry of Finance is responsible for the preparation and execution of the Budget. At the same time the Ministry is responsible for opening Treasury account which is managed by the Treasure and for reporting on the execution of the budget and the budgetary users. Presented bellow are the procedures that are explaining the responsibilities of the Ministry of Finance and the principle of authoritativeness as defined above.

    The Minister of Finance is responsible for preparing the Budget of Republic of Macedonia and for the delivery of the Budget to the Government of Republic of Macedonia.[2] The Ministry of Finance is preparing the Medium Term Fiscal Strategy for a period of three years in order to propose the directions and the goals of the fiscal policy and is determining the amount of the main categories of the estimated revenues and approved recourses for that period.[3] The Strategy is being passed by the Government of Republic of Macedonia latest by the 31 of March.[4]

    Based on the proposed Medium Term Fiscal Strategy the Ministry of Finance is proposing the maximum amount of resources for the budgetary users of the central government and the funds.[5]

    After the Medium Term Fiscal Strategy is adopted the Ministry of Transport is delivering instructions in form of Budget circular to the unit users by the 15th of June and to the mayors of the local government by the 30th of September.[6]

    In terms of the Budget circular, Draft plans for programs from the budget users are derived to budget users by the 15th of June. These plans are delivered to the Government by the 15th of July in the current year and the Government is approving the same by the 15th of August.[7] The approved plan for programs together with additional documents is derived to the Ministry of Finance by the 1st of September in the form of Budget application.[8] In the same terms, the Draft plans from the local government are delivered to the Council of the local government by the 20th of October and the same is approving the Draft plan by the 15th of November of the current year. (Article 21-b).

    An underling principle that needs to be taken into account in terms of the legislative authority and the execution of the budget defines the obligation for preparing budget executions.[9] In Republic of Macedonia, the execution of the budgets of the different budget users is carried out according to the consolidated financial plans and report on quarterly bases that the budget users are submitting to the Treasury. The Treasury is then allocating the approved resources according to the quarter of the financial plans but transfers the finances to the budget users on monthly basis.[10]

  3. Parliamentary power in terms of approving and execution
  4. Parliamentary power is another underlying principle of authoritativeness. The Ministry of Finance is delivering the Draft budget, containing general, specific and developmental part[11], to the Assembly of the Republic of Macedonia (hereinafter Assembly) latest by the 1st of November. The Assembly is approving the Budget latest by the 31st of December.

    In cases when the Budget has not been approved by the 31st of December of the current year by Assembly, the Ministry of Finance approves usage of resources for the period till the 31st of March for the following year which should not exceed the amount of the resources used in the first quarter of the previous year. The amount spent in this period is included and decided from the final budget when the same one has been approved. However, if the budget still hasn't been approved by the 31st of March in the current year, the Assembly makes a decision for continuing the timely financing.[12]

    As mentioned in the previous point i) an underlying principle of authoritativeness is the reporting on execution. In this part since we look at the execution from the parliamentary side we also need to look at the cycle of reporting of the budget in Macedonia. In these terms, the execution of the Budget is regulated by "Law for execution of the budget" for the next year which is passed after the approval of the budget from the Assembly but not later than the 31 of December of the current year. This law specifies the execution of budget that should be based on four main principles namely purpose-built, rational, economic and efficient execution. [13]

    Furthermore, the Law for accounting on the budgets in Article 28 and Article 29, the Government of Republic of Macedonia should submit its annual report, after it has been approved by the Government, to the Assembly together with the annual reports of the all its budgetary users no later than 30th of June in the current year for the budget of the previous year[14]. Separate annual report for the budget and the budget users should be submitted to the Registry for Annual Account of the Central Register of Republic of Macedonia and to the State Audit Office by the end of February the current year for the previous year. [15]

  5. Budget authority in the constitution
  6. The Constitution of Republic of Macedonia provides the basic authority of the Assembly and the Government in terms of the budget. Within these frames, in Article 91 and 68 defines the role of the Government and the Assembly in terms of the budget, namely proposing the budget, and adopting the republic's budget and the annual report.

    In addition, the principle of amendment is of high important as well when we discuses authoritativeness in terms of the Constitution. Jung and Ian in their paper "Is there an Optimum Legal Framework for the Budget System?" argue that in order to satisfy the democracy rule of the county, amendment powers should be given to the parliament.[16] Looking at these amendment powers in Macedonia, it should be stated that the Draft budget can be amendment by each member of the parliament of groups of the Assembly. Copy of each amendment should be given to the members of the parliament before the start of each parliamentary debate.[17] As mentioned before, the Assembly is approving the Budget for the next year by the end of the current year, as well as the Law for execution of the budget for the next year.

  • Annual basis
  • Looking at the annual basis as a second principle in of this framework we are going to look at specification on the fiscal year, whether taxation and other revenue levying authorities are permanent or only for the fiscal year, whether some expenditure authorities are permanent, carryovers and borrowings from the next year's budget.

    The budget of Republic of Macedonia and the budgets of the municipalities refer to period of one year that starts at the 1st of January and ends at the 31st of December.

    In terms of taxation, according to the Law on taxes for the citizens[18], all taxes are determined according the basis and the rates that are valid from the 1st of January in the year for which these obligations are being set. This implied, as stated by Jung and Ian that all taxation is for 12 months only.[19]

    Expenditures are as well not permanent as defined by the Legal framework in Republic of Macedonia. As mentioned above all budget users need to submit plans for expenditure to the Treasury in order to use their budgets. Furthermore, the Law on public internal revision recognizes ex-ante and ex-post financial audit in this case.[20] Ex-ante regulates the procedure by which no financial obligation and expenditure can be carried out prior an approval from a higher level public servant. The ex-post regulates refers to a procedure of checking the transactions after they are completely finished.

    The unused approved resources are not valid with the expiration of the budget at the end of the fiscal year as it is underlined in the Budgets Law.[21] As it was mentioned earlier the budget of Republic of Macedonia is divided into general, specific and developmental part. In cases when approved recourses for programs and sub-programs from the developmental part of the budget would not be used in the fiscal year, the same are being transferred in the amount of 50 % to the following year as already approved recourses.[22]

    Borrowing from the following year's anticipated budget is not applicable for the budget of Macedonia, because the system does not use Medium Term Expenditure Framework that would provide allocation of sources for several years. As it was defined above, the budget of Republic of Macedonia refers only to one fiscal year that starts on the 1st of January and ends on the 31st of December.

  • Universality
  • This principle represents the second principle which importance should be mentioned in the Constitution, as stated by Jung and Ian.[23] In these terms the Constitution of Macedonia recognizes the levying authorities of the local government in Macedonia however it does not recognize the expenditure authorities for the same. According to Article 114 from the Constitution the local government is financed by own sources of revenues determined by law and by sources of the Government.[24] Article 117 of the Construction states the same rights in terms of the financing the unit by own sources of revenue for the City of Skopje, which represents specific unit of the local government defined by a specific law.[25] However, the Constitution does not specify on the authority for expenditure of the local government.

    Jung and Ian in their paper as well point out to the need of consolidated revenue fund where all revenues are received and all expenditure are paid from.[26] For the purposes of managing with the financial recourses of the Budget, the Ministry of Finance opens one single Treasury account in the National Bank of Macedonia. The Budgets Law of Macedonia specifies that sub-accounts are created for the budget users and the unit user.[27] According to Article 40 and 41, all revenues and expenditures are recorded in the Main book of the Treasure. Furthermore, these articles state that the Main book of the Treasury and the Treasury account are being consolidated on regular basis, but it does not provide the period of consolidation.

    Exception to the universality principle in Macedonia can be seen in the extrabudgetary funds such as the Pension and Disability Insurance Fund of Macedonia, the Health Insurance Fund of Macedonia, the Fund for National and Regional Roads of the Republic of Macedonia, and the Employment Service Agency of the Republic of Macedonia which as this exception underlines should be included in separate laws.[28] Having said this it is important to state the consolidated budget of the central Government and the extrabudgetary funds represent sum of the revenues and expenditures of the central budget and the budgets of the extrabudgetary funds, not talking into account the budgets of the units of local self government, by disregarding the mutual transfers and the central budget to the extrabudgetary funds and the transfers between the extrabudgetary funds themselves. However, with the changes of the Law on accounting for the budgets and budget users from 2005, the requirement for preparing consolidated budget has been removed.[29]

  • Unity
  • The principle of unity as defined by Jung and Ian that the budget to present all revenues and expenditures at the same time, as well as that the micro strategy should related to the approved expenditure and revenues. [30] In these terms, Article 29 of the Budget Law states that the Draft budget of the Republic of Macedonia contains resume of the micro indicators, economic policies including the policy for public investments and a resume of the programs of the Government and the budget users.

  • Specificity
  • Specificity as a principle within this framework refers to the details of the budget estimates and to maximum expenditures for specific purposes of the budget, as presented by Jung and Ian.[31]. Similarly to the principle of unity, the specificity can be also found in the Article 29 of the Budget Law.[32] Here the law refers to the Draft Budget as a document that also includes the resume of the draft functional classification, economic classification and programs of the Government. Other documents that are contained into the Draft Budget are Draft plan for revenues and other revenues and approved expenditures for the budget users; Midterm Fiscal Framework including revenues and expected expenditures, details about the capital investments project according programs, details about the uncovered dept at the beginning and the end of the year as well as the new dept and its estimated payment.

    As mentioned in the first principle, the authoritativeness, the draft Midterm Fiscal Strategy that the Ministry of Finance is proposing the maximum amount of resources for the budgetary users of the central government and the funds which are later approved by the Government and are added to the compete Draft Budget.[33] Furthermore, Article 34 from the Budget Law states that expenditure can be increased or decreased. In cases when the budget users are requiring increasing or decreasing of the approved resources, they need to submit request for changes in the recourses to the Ministry of Finance. The law however does not specify if only certain programs can request decreasing or increasing and the percentage of this change.

    In terms or the accounting system used for the budget, according to the International Federation of Accountants, Macedonia currently is the "process of adopting the cash basis International Public Sector Accounting Standards (IPSAS), will then move to adopt accruals basis IPSAS"[34]. This data has not been mention in the Budget Law or related laws that have been analyses for the purpose of this paper.

  • Balance
  • In term of the balance Article 36 of the Budget Law defines the changes and the amendments of the budgets[35]. In these terms, the Ministry of Finance in case when the expected revenues and other revenues of the basic budget are being realized on a higher level may carry out additional payments of the base and the interest rate of the dept[36].

    In cases when the Ministry of Finance evaluates the necessary redistribution is needed and that the implementation of the revenues and other revenues significantly recede from plan, it proposed to the Government change and amendment of the budget[37]. The Assembly based on the proposal of the Government carries out the changes and the amendments latest by the 1st of September of the current year.[38] During this procedure the certain approved resources of the budget that are concerned with these changes are stopped.

    Furthermore, according to Article 36-a from the Budget Law in cases when during the fiscal year significant budget variance occur the Government upon a recommendation of the Ministry of Finance can stop the execution of some approved resources for a period no longer than 45 days and the Assembly is informed. If in a period of 30 days conditions for regular execution of the budget are not created, the Government upon a recommendation of the Ministry of Finance is delivering Draft for changes and amendments to budget to the Assembly.

  • Accountability
  • The principle of accountability when looking the budget system, first and foremost is defines on the Article 46 of the Budgets Law. This Article refers to the accountability for purpose-built usage of the approved resources.[39] The article states that the budget user and the unit users are required to the resources purposely and are not allowed to carry out obligations that exceed the approved recourses of the budget[40].

    Furthermore, when we discus accountability we need to look at who is responsible for the execution of the budget. As mentioned earlier in the paper, the budget users and the budget units are execution the budget which confirmed the underlying idea of the Article 46 of the Budgets Law mentioned in the previous paragraph. In the frames of the execution, it is from importance to mentioned as well that the Ministry of Transport is submitting mid-year report and final report to the Government for the execution of the budget[41].

    It is important to stress that special part in the execution and the audit over the execution, have the Ministry of Finance, the Treasury, the State Audit Office and the Internal Audit. In these terms the Law on Public Internal Revision recognizes ex-ante and ex-post financial audit[42]. The ex-ante as it was specified earlier in the paper regulates the procedure by which no financial obligation and expenditure can be carried out prior an approval from a higher level public servant. The ex-post regulates refers to a procedure of checking the transactions after they are completely finished.

    In terms of accountability the Budget Law also specified deadlines that need to be met in the process of preparation and the execution of the budget. Deadlines for reporting on the same are also given within the frames of the same law.

    Law for accounting on the budgets in Article 28 and Article 29, the Government of Republic of Macedonia should submit its annual report, after it has been approved by the Government, to the Assembly together with the annual reports of the all its budgetary users no later than 30th of June in the current year for the budget of the previous year. The budgets and budgets users according to the Law for accounting on the budgets[43] are responsible for submitting their annual reports to the Central Register and to the State Audit Office until the end of February the current year for the previous.

  • Transparency
  • The principle of transparency is underlined in the Articles 53 and 54 of the Budgets Law of Macedonia. These articles define that the reports related to the execution of the Budget should be publish on the web site of the Ministry of Finance on monthly basis. In addition, the Minister of Finance is submitting the mid-year report on execution to the Government latest by the 31st of July during the current year.[44] Article 54 states that the Budget and the Annual report on the budget are being published in the Official Gazette of Republic of Macedonia[45].

    Additional rules that define the principle of transparency are also defined with the Law on free access to information of public character. With this law the citizens are achieving their constitutional right to free access of information, the freedom to receive information and share information as well as the publicity in the work of the information keepers.[46]

  • Stability
  • The principle of stability as defined by Jung and Ian refers mostly to Medium Term Fiscal Strategy and its planning. According to Article 16, the Medium Term Fiscal Strategy is planned for period of three years in order to propose the directions and the goals of the fiscal policy and is determining the amount of the main categories of the estimated revenues and approved recourses for that period[47], where as Article 5 of the Budgets Law clearly defines that the budget refers to only one fiscal year that starts on the 1st of January and ends on the 31st of December. [48]

  • Performance (efficiency, economy and effectiveness)
  • The Budgets Law on Macedonia recognizes efficiency, economy and effectiveness as budget goals and main principles. These principles refer to the procedure of preparation, approval and implementation of the budget as well as to the reporting of the execution. In general, as provided by Article 3 from the Budgets Law, economy implies that all approved resources are used in timely manner, in appropriate amount, taking into account the price and the quality[49]. Furthermore, the same article defines efficiency as the best ratio between the used resources and the achieved results, whereas the effectiveness implies achieving the results and the desired results.[50]

    RECOMMENDATIONS
    1. Obligation for consolidated balance of the Budget
    2. With the Law on change and amendment of the accounting of the budgets and budget users in 2005 the requirement for drafting consolidated balance of the budget has been abolished. Initiating change in the legislation for returning this obligation for drafting consolidated annual report would stress the importance of covering all of the total revenues and expenditures of the Republic, as well as the accounts receivable and accounts payable.

    3. Strengthening the principles on specificity in terms of multi year and appropriations of unlimited duration
    4. As defined by Jung and Ian some expenditures require long term planning.[51] In these terms, the legislation surrounding the budgets system in Macedonia should clearly define the conditions and terms of project which are on multi-year basis which will allows these projects to be approved as well on multi-year basis.

    5. Exceptions to gross recording
    6. The legislation behind the budget system of Macedonia does not point out to projections that are shown on a net basis. This as pointed by Ian and Jung can provide government agencies to "maximize revenue"[52] and might provide "strong incentives to project revenues realistically...and ensure collection as projected"[53]. Furthermore, this will also strengthen the transparency and insure stronger responsibly of the administration in Macedonia.

    7. Development of capital budgeting
    8. The development of the capital budgeting would point to specific efforts and total coordination of all budget institutions. Overall planning of the capital project represent significant important for timely and successful realization of these projects. Showing the projects as separate capital subprograms together with the dynamics of realization of the projects by years and months will provide justification for the projects, and as mention will add to timely implementation to the activities of these projects. The aim of the Ministry of Finance will be to ensure that activities surrounding activities of the capital project would not be postponed and at the same time will ensure timely payment of these activities.

    9. Improving the transparency
    10. Even thought Macedonia can see improvements in the transparency thought the publication of the appropriate documents underlined in the legislation in Macedonia on the official website of the Ministry of Finance, it is important these publication to be in line with the deadlines given in the Budget law.[54] The Government might consider publishing as well the Sublimate of the budget as well the Medium Term Fiscal Strategy and macroeconomic policy.

    11. Improvement of the strategic planning
    12. Even though there is a clear budget calendar in the Budget Law of Macedonia, this frame often is not obliged the budget users. In these terms, the strategic planning needs to be adjusted to the budget process in total. Possible changes might be made in the adjustments with the strategic planning in a way that the budget users will deliver sector priorities which then can be applied to the strategic priorities and will bring ease to the planning process.

    13. Limits of the budgetary user's budgets
    14. Even thought the Ministry of Finance started setting up limits and controls these limits for the budget users, the budget users themselves concentrate on maximizing the absolute volumes of the financial resources because the lack of measures of performance. In these terms, the Ministry of Finance might consider changing the budget as a whole from line up to performance, which might represent an additional burden to the administration and create additional problems in the budget system in Macedonia, or might consider introducing measures for performance that would not change the budget as a whole but would bring elements of performance measurement in order to ensure more realistic budgets.

    1. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152
    2. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 14
    3. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 16
    4. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 18
    5. Ibid.
    6. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 19
    7. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 21-a
    8. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 22
    9. Furthermore, the Budget application contents the following documents: Filled Circular, Strategic plan for budget users, Plan for public procurement, Approved plan for programs accompanied by detailed justifications, Plan on systematic and filled employments of the budget user and other documents according the requirements and directions given in the Budget curricular.

    10. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152
    11. Law on execution of the budget of Republic of Macedonia for 2009 (Zakon za izvrsuvanje na budgetot za 2009). 2008. Official Gazette 166/08
    12. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 30
    13. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 32
    14. Law on execution of the budget of Republic of Macedonia for 2009 (Zakon za izvrsuvanje na budgetot za 2009). 2008. Official Gazette 166/08
    15. Law on accounting of budgets and budget users (Zakon za smetkovodstvo za budgetite i bidgetskite korisnici). 2002. Official Gazette 61/02, article 28.
    16. Law on accounting of budgets and budget users (Zakon za smetkovodstvo za budgetite i bidgetskite korisnici). 2002. Official Gazette 61/02, article 29
    17. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152.
    18. Zidas Daskalovski et al., Guide to budgets (Skopje: Friedrich Ebert Stiftung, 2006).
    19. Law on taxes of the citizens (Zakon za danocite na graganite). 1992. Official Gazette 79/92, article 4
    20. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152.
    21. Law on public internal financial control (Zakon za javna vnatresna finansiska kontrola). 2009. Official Gazette 90/09.
    22. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 7.
    23. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 10.
    24. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152.
    25. Constitution of Republic of Macedonia.
    26. Constitution of the Republic of Macedonia
    27. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152.
    28. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 39
    29. The exception of the universality principles says that extrabudgetary funds need to be included in the budget system law or in separate laws. In these terms the four different funds in Macedonia, Pension and Disability Insurance Fund of Macedonia, Health Insurance Fund of Macedonia, Fund for National and Regional Roads of the Republic of Macedonia, and Employment Service Agency of the Republic of Macedonia were established in accordance to the Law on Pension and Disability Insurance, Law on health insurance, Law on Public Roads as a legal successor of the Republic Self Management Community for roads, and Law on employment and insurance in case of unemployment respectably.
    30. Law for change and amendment of the Law on accounting for the budgets and budget users (Zakon za izmena i dopolnuvanje na zakonot za smetkodstvo za budgetite i budgetskite korisnici) Official Gazette 61/02.
    31. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152.
    32. Ibid.
    33. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05.
    34. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 18.
    35. http://homepage.test.ifac.org/PublicSector/Downloads/IPSAS_Adoption_Governments.pdf
    36. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 36, paragraph 1.
    37. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 36, paragraph 2.
    38. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 36, paragraph 3.
    39. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 36, paragraph 4.
    40. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 46.
    41. Ibid.
    42. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 48.
    43. Law on supervision (Zakon za revizija). 2002. Official Gazette 79/02.
    44. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 30.
    45. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 53.
    46. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 54.
    47. Law on free access to information of public character. (Zakon za sloboden pristap do informacii od javen karakter). 2006. Official Gazette of the Republic of Macedonia 13/06.
    48. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 16.
    49. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 5.
    50. Budgets law (Zakon za budgetite). 2005. Official Gazette 64/05, article 3, paragraph 2.
    51. Ibid.
    52. Jung, Moo-Kyung and Ian Lienert. 2004. Is there an Optimum Legal Framework for the Budget System? In "The Legal Framework for Budget Systems: An International Comparison," ed. Jon R. Blondal. Special Issue, OECD Journal on Budgeting, 4, no. 3: 125-152.
    53. Ibid.
    54. Ibid.
    55. See previous section on transparency about publication of financial reports and other documents by the budgetary users on the website of the Ministry of Finance.

    Article name: Budget System In Republic Of Macedonia Social Policy essay, research paper, dissertation