Multi-Annual Planning of Public Budgets as a Way of Rationalising Public Expenditure

Abstract

Multi-annual planning is an essential tool in public finance law for the efficient management of public funds. The management by one-year budget should be accompanied by future planning exceeding one calendar year. Such planning is being made at the present time to a certain extent; however, the fulfilment of long-term plans, which cannot be enforced, can be perceived as the basic defect, which means that long-term plans are not obligatory for the next calendar year. The aim of this article is to determine whether, and if so, how it affects the rationalisation of public expenditure, a process that should lead to the efficient and economical use of public funds.