(1) In preparing guidelines for the draft of the estimates, the following must be observed at all times during budget formulation and approval —
(a) revenue and expenditure must be entered into the budget module of the financial management system;
(b) expenditure entered in the Electronic Budget Estimates Preparation System must be authorized by the Permanent Secretary of the Ministry responsible for finance for one financial year, unless otherwise stipulated in the first budget circular;
(c) the Eastern Caribbean Dollar must be used to prepare, present and report for the budget;
(d) a draft of the estimates must take into account expenditure priorities which contribute to the realisation of the required output and desired policy outcome.
(2) The budget ceiling contained in the first budget circular must take into account —
(a) the aggregate resource envelope following the forecast of revenue and expenditure categories;
(b) the non-discretionary expenditure, including debt service, wages and other related matters;
(c) the overall expenditure taking into consideration fiscal rules where applicable;
(d) a breakdown of the overall expenditure into current and capital expenditure by sector ceilings; and
(e) expenditure priorities as set out in Government policies.