Fiscal Responsibility and Budget Management Act

The Fiscal Responsibility and Budget Management Act (FRBMA) is a law aimed at ensuring sound financial management and accountability in government spending. It seeks to promote fiscal discipline by setting targets for reducing government deficits and debt levels. The act requires the government to prepare a medium-term fiscal policy and report on its implementation, helping to maintain transparency and encourage prudent financial practices. Overall, FRBMA aims to foster a stable economic environment by controlling public finances and encouraging sustainable development.