Decree Law No. 29-A/2011
- Issuer: Ministry of Finance and Public Administration
- Diploma Type: Decree Law
- Number: 29-A/2011
- Pages: 1246-(2) a 1246-(29)
Summary in plain english
What is it?
This decree-law defines how the State Budget (SB) for 2011 will be implemented.
What will change?
Quarterly budget plans
The budget coordinators now have to present quarterly projections of income and expenses to the Directorate-General for Budget (DGO).
Public entities have to respect the new debt limits. If not, their assigned funds might be reduced.
Budgetary commitment register
All Central Government services and organizations must keep an updated record of all their expenses scheduled for 2011 on the DGO’s information system.
Every three months, the budget coordinators report to the relevant ministry and to the Inland Revenue their average payment period (how many days they take to pay their suppliers).
Public Administration services that take, on average, more than 90 days to pay their suppliers:
- must publish a list on their websites of debts older than 60 days
- cannot commit to more expenses until the payment period is reduced to less than 90 days.
All public services and organizations must supply information that makes it possible to verify if they are meeting the Budget’s targets.
Service purchase contracts made by public entities
Generally, service purchase contracts made or renewed in 2011 need to be pre-authorised by the ministers of Finance and Public Administration and are subject to the same reductions as public sector wages.
The exceptions are:
- essential service contracts (water, energy, gas and telephone)
- contracts whose main goal is not the acquisition of the service
- contracts with public corporations
- contract renewals following an open tender, in which the criteria for choosing the supplier was the lowest price.
What are its benefits?
This decree-law is intended to:
- define how the SB 2011 will be implemented
- introduce new monitoring and control methods to ensure the Budget’s objectives are being met.
When does it come into effect?
This decree-law comes into effect the day after being published.
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