Section 5, The Public Financial Management Act, 2016

(1) The Minister shall, in accordance with this Act andany other enactment, – (a) develop the Government’s fiscal policy covering the general government through preparation of the Fiscal Strategy Statement and State budget documents including the medium-term budgetary framework mentioned in section 30; (b) prepare the State budget through the control over the budget preparation process; (c) produce macroeconomic and fiscal forecasts underlying the Fiscal Strategy Statement and State budget documents; (d) evaluate projects proposed by budgetary agencies; (e) monitor and exercise control over the execution of the State budget; (f) manage and control public money through the management of the Treasury Single Account and the planning and forecasting of cash flow; (g) coordinate the management of external grants and loans made to the State; (h) monitor and manage fiscal risks and prepare fiscal risk statements; (i) monitor and exercise control over the financial management of entities included in the general government and public enterprises; (j) ensure transparency in the execution of the State budgets, the management of public money, and the financial management of entities included inthe general government and public enterprises; (k) formulate policies on, and exercise control over, the acquisition, management, and disposal of financial and other assets held by entities included in the general government; (l) monitor and exercise control over the management of extractive industries revenues in accordance with this Act; (m) preparing cash flow forecasts of public money in consultation with budgetary agencies and other entities included in the central government; and (n) perform any other responsibilities conferred on him by any other law, or related to the responsibilities under previous paragraphs. (2) For the purposes of discharging his responsibilities under subsection (1) the Minister may – (a) establish or continue in existence, within the Ministry, as the case may be, such departments, divisions or units as he may consider necessary or expedient; and (b) require any information from any budgetary agencies, other entities included in the general government, public enterprises, and any other persons receiving from the State grants, guarantees, or loans; 12 13 of Minister. (c) establish treasury offices in budgetary agencies for the receipt, custody and disbursement of public money as may be required in the execution of the State budget; (d) issue such instructions and directions as he may find necessary or expedient for discharging his responsibilities, unless the contrary is provided by any other enactment.