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Budget Monitoring Swot Analysis

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The University of St Andrew (2010: 3) described that ‘budget monitoring is a continuous process to achieve the action plan, as regards of expenditure and income. Because it guarantees the correct use of resources for targets that are planned and the responsibility of external and internal bodies. It guarantees that resources can be used efficient, effective and economic. And on the other hand it identifies potential opportunities and / or problems and how to make the corrective action.’ The budget monitoring is a very important part in the process in which the budget is controlled. In the public sector, the most important aim for use of budget monitoring is to guarantee that the total income and expenditure planned at the budget stage are …show more content…

First, before discussing about the allocation, the limit for spending are determined before handed, where by a choice about projects that are each other concurrent are determined in the priority. A second strength is the hierarchical relationship between the budget institutions, in which the negotiation between the ministry of finance and the other ministries is on bilateral level. The position of negotiation of the ministry of finance is strengthened with regard to a particular ministry, because of the fact that the negotiation about a ministry does not take place in the Council of Ministers. The decreasing of government spending and reducing of budget deficit is the result of the abovementioned …show more content…

- The fact that reliability of the budget estimates are reduced, and the disappearing on the focus of budget preparation are the results of a too long time of preparation. - The used of a complementary period leads also a long period of execution. The consequence of this is a complicated budget execution management, the development of overlapping of execution periods, and the stagnation of financial-administrated and control functions. - Another weakness is the fact that the organization structure is too complex, because the different parts of the budget are designed by two ministries. Ministry of Planning and Development is responsible for the development budget which consists of capital expenditures, and the Ministry of Finance for the general budget. Due to the fact that five different department within the Ministry of Finance have an important role in the budget process, hinders the coordination, and accuracy of the

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