What is Fiscal Policy Strategy Statement?

The Fiscal Policy Strategy Statement is presented to Parliament under Section 3(4) of the Fiscal Responsibility and Budget Management Act, 2003.

It outlines for the existing financial year, the strategic priorities of the Government relating to taxation, expenditure, lending and investments, administered pricing, borrowings and guarantees.

The statement explains how the current fiscal policies are in conformity with sound fiscal management principles and gives the rationale for any major deviation in key fiscal measures.