The National Budget for Fiji is prepared for each financial year, which begins on 1 August of every calendar year and ends on 31 July of the next calendar year. The Budget includes the budget strategy, actual government revenue collected and expenditure incurred in the previous financial year, projections for the current financial year, as well as the planned government revenue and expenditure for the next financial year.
Prior to the preparation and finalisation of the Budget, the Ministry of Economy commences its budget consultation process with the members of the public, school students, private sectors and the Ministries/Departments a few months prior to the Budget Address to gather contributions for the next financial year’s Budget. All views and proposals submitted during the consultation period are taken into account in the preparation of the National Budget. Thereafter, the Government finalises and approves the Budget in Parliament after the Budget Debate.
PARLIAMENTARY PHASE
The Budget is announced in Parliament by the Minister for Economy
Budget tabled and debated in Parliament for one week
Budget is passed and approved by Parliament and another set of Budget Estimates are printed (as approved by Parliament)
START OF NEW FINANCIAL YEAR
The Ministry prepares Annual Work Programme for the budgeted projects
Facilitate the Implementation of projects/programmes
Quarterly Physical and Progress Report are submitted by the Ministries/Departments
Ongoing Monitoring and Site Visits are conducted by Ministry of Economy staff
PLANNING PHASE
Commencement of internal financial performance review and plan for the new budget by the Ministry
Review of Strategic Plan by the Ministry
Preparation of Costed Operational Plan and Workforce Plan by the Ministry
Issuance of Budget Strategy and timelines by Ministry of Economy
PRODUCTION PHASE
Budget documents (including supplement to the Budget Address, Budget Estimates, supplement to the Budget Estimates and Budget Kit) are printed and presented in Parliament
EXPENDITURE EVALUATION CRITERIA
Align to the NDP
Performance Based Budgeting
Preparatory Works undertaken
Continuing Project – results achieved
Realistic Cost Estimates
UPDATE PHASE – BASELINE PHASE
Determines minimum (base) level of budget
Based on past year’s expenditure performance
One-off expenditures are taken off
Assessment of ongoing projects status.
Operating and capital expenditures baselines are prepared
Issuance of baseline to Ministries / Departments
Budget Focus Group needs to consider and review baseline
CONSULTATION PHASE
Ongoing consultations with the members of the public, private sectors and school students
Central Agency hold consultation meetings
Budget consultations at official and ministerial levels
Draft budget is prepared for Cabinet’s approval
ONGOING/NEW EXPENDITURE PHASE
Budget Submissions are prepared by Ministries.
Capital Projects are aligned to the Public Sector Investment Programme
Overseas Development Assistance funded projects submitted through Budget and Aid Coordinating Committee
