MTBF documents are prepared annually in order to frame the budget in a medium-term perspective.
MTBF is developed in two stages:
- The first stage aims at ensuring an aggregate fiscal discipline and the sustainability of budgetary policies, by elaborating a medium-term fiscal framework and a medium-term macroeconomic framework. The MTBF should be based on realistic revenue forecasts. Its training should involve the departments responsible for macroeconomic, budgetary and revenue management.
- The second stage focuses on the allocation of intersectoral resources, by preparing a CBTM consisting of estimates of aggregate anticipated expenditures by sectors or ministries.
In the Republic of Moldova, the Medium-Term Budgetary Framework - a document that establishes the objectives of the fiscal-fiscal policy and determines the framework of resources and expenditures of the national public budget and its components in the perspective of three years.
Law no. 181 of 25 July 2014 on public finance and fiscal responsibility establishes the general legal framework for the development and approval of MTBF.
Annually, in accordance with the budgetary calendar, the Government approves the medium-term budgetary framework and presents it to Parliament for information.
The medium-term budgetary framework is elaborated by the Ministry of Finance, jointly with other responsible public authorities, in accordance with the budgetary-fiscal principles and rules established by this law.
The medium-term budgetary framework includes:
- macroeconomic framework;
- budgetary-fiscal policy;
- the macro-budgetary framework;
- expenditure framework.