Regulatory Alerts2021-01-01 | JPRF-F-2021-003JPRF-F-2021-003 — Guidelines for Public Financial Institution Budgets
The Financial Policy and Regulation Board (JPRF) issued Resolution No. JPRF-F-2021-003 to establish mandatory budgeting guidelines for public financial entities for the 2022 fiscal year. The resolution requires these entities to align their budget proposals with the 2021-2025 Opportunities Creation Plan, ensuring consistency with national economic policies, fiscal sustainability, and specific operational targets. It mandates strict adherence to expenditure optimization, defines priority investment sectors such as innovation and social housing, and sets specific deadlines for the submission and approval of budget proformas.
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