ABSTRACT : Proposes several reforms in the budget, among others, as follows: a) ensures that public resources are allocated in a manner that aligns with national priorities; b) institutionalizes medium-term planning, particularly in infrastructure; c) introduces filters on multi-year contracts; d) clarifies the rules on the management of different funds held by the government as well as obligations; e) provides for the rules on the governance and reporting of government exposures to liabilities; f) provides for complete and updated registry of all contingent liabilities of the National Government; g) institutionalizes budget participation and accountability measures, requires that proposed revenue eroding and expenditure bills include a Financial and Budgetary Information Sheet which shall contain an estimate of the financial and budgetary implications of said proposal for the initial year of implementation.