Forward Estimates
Forward estimates are budget projections for revenue, expenses and financial position for the three years beyond the current (budgeted) fiscal year. The “forward estimates” system evolved in Australia from the late 1970s through the 1980s''The Australian Experience with a Medium Term Expenditure Framework''
World Bank and is used at both the Federal and State levels. The forward estimates provide a mechanism for discipline within the budgeting process that enables a greater focus on strategic policy issues, and provide a strategic framework for budgetary decision making in the medium-term. Depending on the context,
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