Making and Keeping Promises: Why Budget Credibility Matters

by Guillermo Herrera, International Budget Partnership— Jul 31, 2018

Budget credibility describes the ability of governments to accurately and consistently meet their expenditure and revenue targets. Two key issues pertaining to budget credibility warrant greater attention: the impact of budget deviations on citizens and services, and how governments justify budget deviations and are held accountable for them. The International Budget Partnership’s Assessing Budget Credibility project aims to investigate these issues further. In July 2018, IBP and the Ministry of Finance and Public Credit of Mexico, in collaboration with the United Nations Department of Economic and Social Affairs, co-hosted a side-event during the 2018 United Nations High Level Political Forum to discuss budget credibility, and its relevance to the Sustainable Development Goals.