In this budget preparation plan, greater demands are made to justify the need for funding, thus starting to prepare for drawing up the medium-term budgetary plan, which will be approved for the years 2025-2027 according to the updated budget structure rules. The medium-term budgetary plan will clearly reveal the planned expenditure of budgets and funds for 3 years in accordance with the country's financial capabilities, and will assess the impact of the decisions made on the expenditure of subsequent years. In this way, the continuity of financing will be ensured in the medium term and a more sustainable fiscal policy of the country will be formed.
"Our goal is to prepare a discussed and financially feasible budgetary plan as early as possible. Despite the uncertainty that has been present for several years, as early as possible - in June - we will discuss the needs for financing the functions and activities carried out, and the commitments already undertaken. This will give the institutions the opportunity to plan most of the work starting already from spring,” said Minister of Finance Gintarė Skaistė. “And only for the financing of additional measures, the negotiations are postponed until autumn, when the latest economic development scenario will be available."
The Ministry of Finance annually submits the plan for the preparation of draft financial indicators of the State budget and municipal budgets to the Government for approval. It provides specific tasks for the institutions participating in the budget preparation process: what data and information they should prepare and when and to whom it should be submitted.
The 2024 State budget preparation plan envisages that:
- On 20 March, the Ministry of Finance publishes the economic development scenario and general government financial projections.
- In April-May the Ministry of Finance collects the information for projecting macroeconomic indicators and financing needs of institutions.
- In April, the Government approves the stability programme prepared by the Ministry of Finance, which determines the medium-term fiscal policy, three-year general government balance indicators (deficit or surplus), and structural general government balance indicators. The stability programme limits the expenditure of the budget being prepared.
- In June, planned reviews of functions in the areas of the Ministry of the Interior, Ministry of Justice, Ministry of Culture and the Ministry of
- Finance and systematic reviews of ongoing budget expenditure are carried out.
- On 12-23 June, meetings of the Ministry of Finance, the Government and representatives of the relevant ministries or representatives of institutions accountable to the Government regarding the planned appropriations and the expected results are planned: the results achieved by the institutions in the previous year and the appropriations used in carrying out progress and continued activities are evaluated, and proposals are discussed regarding the financing of the needs for the functions and activities carried out. During the meetings, the need for funding for new (advance) measures is also discussed.
- By 7 July, the Ministry of Finance notifies the institutions of the maximum expenditure ceilings for 3 upcoming years. After this stage, the institutions start drafting 3-year strategic activity plans and elaborate expenditure plans.
- By 25 August, the institutions prepare draft estimates of the State budget programmes with preliminary calculations, not exceeding the maximum limits of the State budget appropriations agreed in the consultations on appropriations.
- By 11 September, the Ministry of Finance updates the economic development scenario and general government financial projections.
- On 11-22 September, the meetings of the Prime Minister, Minister of Finance and Ministers are planned, during which, taking into account the updated economic development scenario, the budget indicators are adjusted, a decision is made on the financing of additional measures and the allocated financing is specified.
- By 6 October, the Ministry of Finance prepares and submits to the Government the draft law on the approval of the financial indicators of the State budget and municipal budgets for 2024.
Additional information on the preparation of the State budget:
After the Government considers the draft State budget and approves it, it is submitted to the Seimas. After the first consideration in the Seimas, the draft budget is returned to the Government for improvement.
No later than 15 days after the first consideration of the draft State budget, the second consideration takes place in the Seimas. Until then, the Government must consider and improve the draft budget according to the proposals and comments received, and after their approval, return the draft budget to the Seimas.
The Seimas votes on the adoption of the draft State budget no later than 14 days before the beginning of the next year. The Constitution establishes that the President signs and officially announces the law adopted by the Seimas no later than 10 days after delivery or returns it to the Seimas for reconsideration.
