European Parliament Library

Iceland :, Technical Assistance Report on a New Organic Budget Law

This technical assistance report on Iceland focuses on a new organic budget law (OBL). In designing a new OBL, it is important to preserve good features of Iceland’s current legal framework for budgeting. At the same time, any new OBL should address the key weaknesses in the Financial Reporting Act 1997 that prevent it from providing a credible, integrated framework for budgeting. The institutional coverage of the OBL should be expanded to encompass the whole public sector and incorporate an integrated timetable for the entire budget process
Table Of Contents
Cover; Contents; Abbreviations; Preface; Executive Summary and Overview; I. Construction of the Organic Budget Law; A. Coverage of the New Organic Budget Law; B. Scope of the New Organic Budget Law; Figures; 1.1: Composition of Public Sector Expenditure; 1.2: Timing of Overspending from Medium-term Plan to Final Accounts; Boxes; 1.1: Indicative Outline for the Organic Budget Law; C. Budget Calendar; Tables; 1.1: Current Budget Timetable; 1.2: Revised Budget Timetable; II. Macroeconomic and Fiscal Policymaking; A. Legal Framework for Macro-Fiscal Policymaking
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (84 p.)
Specific Material Designation
Form Of Item

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