Governance of Public Budget Legislation

Abstract

Accommodating the basic principles of corporate governance comes from transparency, participation and accountability, through a system of laws, regulations and disciplinary decisions, to change the concept and content of state budget, from just legislation to legalize public revenue and public expenditures in its traditional numeric terms related to the traditional role of governments, to solid legislation that reflects the medium and long-term plans, programs and strategies, aiming at achieving political, economic, social and development goals, and the extent to which these programs can monitor the required progress and sustainable growth in the infrastructure and public services sectors of rational contemporary state. This development copes with, in the content and objectives of the public budget (state budget), the evolution of administrative and financial systems, concepts of strategic planning, efficiency in performance, quality and discrimination measurement, and the citizen’s role in political life due to their continuous access to accessible information and data, and thus an increased oversight role in supervision and accountability about the optimal use of funds and resources, achieving social justice, eliminating financial and administrative corruption and holding those responsible accountable.