Explain medium term expenditure framework, Financial Management

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Question 1:

The various criteria for evaluating a revenue measure or system are:

? Yield
? Political expediency
? Consistency with economic and social goals
? Equity

Required:

(a) Give a full explanation of each criteria.

(b) What is your favourite revenue measure? Why?

Question 2:

‘The budgeting process in low income countries tends to reflect historical trends rather than current priorities. The Medium Term Expenditure Framework (MTEF) is intended to overcome this.'

Required:

(a) Describe how the ‘Medium Term Expenditure Framework' is different to the current system of expenditure management in Mauritius.

(b) Show the factors that may make the implementation of MTEF difficult?

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