Principles relating to public finance

Principles relating to public finance The guiding principles of public finance include the following: (a) transparency and accountability in the development or formulation of macro-economic frameworks, socioeconomic plans and the budget; (b) promotion of a public finance system that ensures that— (i) the burden of taxation is shared fairly; (ii) revenue raised nationally is shared equitably among the different levels of government; and (iii) expenditure promotes the equitable development of the country; (c) sustainable public borrowing to ensure inter-generational equity; and (d) prudent and responsible use of public resources. [Article 198 added by section 8 of Act 2 of 2016] By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 81 Constitution of Zambia Act, 1991 (Chapter 1) Zambia