ANSG Medium-Term Expenditure Framework

The Medium-Term Economic Framework (MTEF) is a crucial tool for governments to effectively manage their finances and achieve their economic goals. It provides a framework for setting fiscal policy objectives, allocating resources, and monitoring progress over a three-year horizon. The MTEF typically includes forecasts of economic growth, revenue, and expenditure, as well as a framework for managing risks and uncertainties. By adopting an MTEF, governments can enhance transparency, accountability, and discipline in their fiscal management, thereby fostering sustainable economic growth and development.

Hence, this document presents the following information:

1. Economic and Fiscal Update (EFU): This provides economic and fiscal analyses that form the basis for the budget planning and preparation process.  It is aimed primarily at policymakers and decision-makers in the Anambra State Government (ANSG). The EFU also provides an assessment of budget performance (both historical and current) and identifies significant factors affecting implementation. 
2. Fiscal Strategy Paper (FSP): a key element in the Medium-Term Budget Framework (MTBF) and annual budgeting process and, as such, it determines the aggregate resources available to fund the Government’s projects and programmes from a fiscally sustainable perspective.
3. Budget Policy Statement (BPS): this is a part of the analysis that takes the aggregate resource envelope and divides this into indicative sector expenditure ceilings that are consistent with the Government’s policy priorities for socioeconomic development. In this way, the combined EFU-FSP-BPS becomes an integral part of a policy-driven budget process.