Question

The Macroeconomic Framework Statement presented with the budget provides an assessment of
1. expected GDP growth rate.
2. fiscal balance of the Central Government
3. external sector balance.
Select the correct option using the codes given below.

• A. 1 only
• B. 1 and 2
• C. 2 only
• D. 1, 2 and 3

Answer 1

Answer: (D)

1, 2 and 3

The Macro-economic Framework Statement is presented to Parliament under Section 3(5) of the Fiscal Responsibility and Budget Management Act, 2003. It contains an assessment of the growth prospects of the economy along with the statement of specific underlying assumptions. It also contains an assessment regarding the GDP growth rate, the domestic economy and the stability of the external sector of the economy, fiscal balance of the Central Government and the external sector balance of the economy.