Selected budgeting issues in Chile [E-Book]: Performance budgeting, medium-term budgeting, budget flexibility / Ian Hawkesworth, Oscar Huerta Melchor and Marc Robinson
Hawkesworth, Ian.
Huerta Melchor, Oscar. / Robinson, Marc.
Paris : OECD Publishing, 2013
39 p.
Finance and Investment
Full Text
The Chilean government is exploring several important areas of public sector reform. This article discusses performance budgeting (including spending reviews, efficiency reviews, and the Chilean performance management system), mediumterm budgeting (especially the use of forward estimates and fiscal rules), and flexibility and efficiency in budget execution. Chile’s situation as of May 2012 was analysed in the light of OECD country best practices at the annual meeting of the OECD network on performance and results in November 2012, and the article makes several suggestions for reform. JEL classification: H610 Keywords: Chile, budget structure, programme classification, formula-based performance budgeting, performance-based budgeting, evaluation, fiscal space, productivity savings mechanism, medium-term budgeting framework, MTBF, longterm projections