(1) The medium-term expenditure framework is a report on the fiscal policy statement under section 27 of the Act which is the first step of the budget.
(2) The medium-term expenditure framework must be presented to Cabinet for approval.
(3) The medium-term expenditure framework is a rolling plan for the financial year and 2 subsequent financial years that contains —
(a) a projection of all tax and non-tax revenues by category of revenue;
(b) any risks in the estimates of revenue;
(c) a projection of all expenditures, recurrent and capital;
(d) all liabilities and payment plans for outstanding debt;
(e) an aggregate expenditure limit for each financial year, identified by current and capital expenditures;
(f) a budget deficit for each financial year;
(g) any risks in the expenditures, such as, exogenous and endogenous shocks;
(h) all contingent liabilities, including guarantees;
(i) a list of all public-private partnerships, current and prospective; and
(j) any major economic issues that may arise and would affect the medium-term expenditure framework.
(4) The Ministry responsible for finance must maintain a database of proposed developmental projects within an established Public Sector Investment Programme.