Dimension 5.1.Scoring

Score Minimum requirements for scores
A Budget documentation fulfills 10 elements, including every basic element (1–4).
B Budget documentation fulfills 7 elements, including at least 3 basic elements (1–4).
C Budget documentation fulfills at least 3 basic elements (1–4).
D Performance is less than required for a C score.


8.Financial assets, including details at least for the beginning of the current fiscal year presented in accordance with GFS or other comparable standard.

9.Summary information of fiscal risks, including contingent liabilities such as guarantees, and contingent obligations embedded in structure financing instruments such as public-private partnership (PPP) contracts, and so on.

10.Explanation of budget implications of new policy initiatives and major new public investments, with estimates of the budgetary impact of all major revenue policy changes and/or major changes to expenditure programs. In this element, for all major revenue policy changes and/or major new public investments, assessors may cross check references with indicators PI-15 and PI-11.

11.Documentation on the medium-term fiscal forecasts. In this element, the content of the documentation on the medium-term forecast should include as a minimum medium term projections of expenditure, revenue, and fiscal balance.

12.Quantification of tax expenditures. In this element, tax expenditure refers to revenue foregone due to preferential tax treatments such as exemptions, deductions, credits, tax breaks, etc.

5.1:4. It is important that all documentation should be available to the legislature at the time the budget proposal is reviewed. For example, if summary information on fiscal risks (element 9) is not included in the budget documentation but has been made available to the legislature through another official report earlier in the year, this would fulfill the element’s requirements, provided that all relevant details are included in that official report (e.g., the ‘summary information of fiscal risks’ must cover contingent liabilities such as guarantees and contingent obligations such as public-private partnerships (PPPs)).

5.1:5. For element 4, both aggregate data by main head of classification and detailed disaggregated information on revenue and expenditure is required. For element 10, new policy initiatives are those that have been approved by Government and included in the annual budget proposal.


Pillar Two: Transparency of Public Finances