Medium-term expenditure plan unveiled
The MediumTerm Expenditure Framework Statement (MTEF) was laid in Parliament last month. The MTEF Statement sets forth a three-year rolling target for expenditure indicators with specification of underlying assumptions and risks involved. The MTEF is essentially a vertical expansion of the aggregates of the expenditure projections in the fiscal framework presented along with the Annual Financial Statement and Demands for Grants. The MTEF provides a medium-term perspective to the fiscal management and
furthers the government's commitment to fiscal consolidation.