Budget

LC (loi comptable or « Accounting Law ») = Law of 8 June 1999 (and amendments thereof) related to Budget, Public Accounting and State Treasury.

The rules defining the annual budget derive from the art. 104 of the Constitution, which states that the Chamber of Deputies finalizes and adopts the national accounts and the Budget on an annual basis.

The accounting law provides further details on the State’s budgeting particularly in the articles 2, 3 and 6. Art. 2 states that the Budget is an Act for both planning and authorizing annual public expenditures and revenues. The Draft Budget Act is accompanied by a comprehensive report on the present and future outlook of the financial situation as well as a range of appendices detailed in Art. 6 of the Accounting Law.