The Portuguese Public Finance Council releases its Opinion regarding the Budgetary Framework Law — Bill no. 329/XII. The Budgetary Framework Law contained in this Bill is not a chirurgical change to certain details of the budget process and it clearly differs from the amendments made to the existing law (Law no. 91/2001 of 20 August).
It lays down a new legal framework that should provide Portuguese fiscal policy with a basis for prioritising public expenditures in line with the government’s policy choices, leading to a better use of taxpayer resources within a context of fiscal discipline that protects the country from the adverse consequences of a relentless budget deficit build-up. Generally speaking this Bill reflects a set of principles prescribed in international good practice, the adoption of which is also recommended by national experience.