10. Objectives underlying responsible fiscal management

The objectives underlying responsible fiscal management which need to be adhered to by the Government shall be as follows: -

ensure that public debt is reduced to, and maintained at, a sustainable level;

create and maintain fiscal buffers that secure against future shocks;

manage and mitigate fiscal risks in a prudent manner;

ensure discipline, transparency, and accountability in fiscal management;

lengthen the time horizon of fiscal planning by establishing requirements for the development and publication of an annual fiscal strategy statement and rolling five-years medium-term fiscal framework; and

facilitate effective scrutiny of the fiscal performance of the Government.