Multi-year budgeting system and assessment of Turkey

The Budgets is the law which determines revenues and expenses of the government within a certain time and permits the collection of revenues and making expenditure. Various budget techniques have been developed in course of time to achieve the goals and objectives replaced in the budget. One of this techniques is multi-year budgeting system which provides the opportunity to analyse the budget and its effects more than one years. The main feature of multi-year budgeting approach is; it includes estimates of revenue and expense for two or three years except the fiscal year. Many developed and developing countries moved the budget process from annual budget process to multı-year budget process for the reasons such as to ensure fiscal discipline and use public resources effectively and efficiently. Despite the differences among country practices, this countries expects benefits from the multi-year budgeting practices. In this study, multi-year budgeting is discussed generally, practices of some countries are examined, the system is evaluated in terms of Turkey, failing parts are shown and finally some solutions are tried to put forward about these failing parts.Key Words: Budgeting Systems, Multi-Year Budgeting System, Medium Term Expenditure Framework