|Due dates||Activities||Legal basis|
|The fiscal year is set on a calendar-year basis by the constitution. The MOF has primary responsibility for preparing the budget for the executive branch, but the MOE coordinates the preparation of all proposals on public investments. The main steps in the process are as follows:|
|March/April||Preliminary macroeconomic forecast by MOE, NBU, and MOF in consultation, and estimate of revenue by MOF||Administrative|
|April/May||Expenditure limits set for key spending units.||Administrative|
|May 29||Budget policy guidelines sent to Rada||Art. 33(2)|
|June 1||Commencement of hearings on budget policy in the Rada||Art. 33(1)|
|Early June||Expenditure guidelines and request for expenditure estimates issued by the MOF.||Art 34(1)|
|End-June)||Estimates of recurrent and capital needs prepared by key spending units* (and their subordinate units) in accordance with schedule set by MOF.||Art 35(1)|
|August 15||Other laws that affect budget revenues or expenditures must be enacted before August 15 of the year that precedes the planned year.**||Art 27(3)|
|Mid-August||Consolidated state budget prepared by MOF and submitted to government.||Administrative|
|September 15||Revised budget approved by government and submitted to Rada. Within five days after government approval, the Minister of Finance presents the budget to a plenary session of the Rada, accompanied by a report from the Budget Committee on compliance with the budget code and the policy guidelines—noncompliance could result in resubmission.||Constitution|
|October 1 or 6||Rada: first reading, no later than October 1 (or October 6 if a second submission by government required).||Art. 40|
|November 3 or 8||Rada: second reading no later than November 3 (or 8).||Art. 42|
|November 25||Rada: third reading no later than November 25. Should the budget law not be adopted, monthly state budget expenditures will be restricted to 1/12 of the monthly amount applied under the previous year’s budget.||Art. 44(1)|
|December 1***||Rada: adoption of the State Budget Law.||Art. 44(5)|
|December||Regional and local authorities: approval of budgets taking into account transfers and other provisions approved by the Rada||Art.77|
Ministries, agencies, and committees receiving primary budget authority. The number of these agencies has been reduced by more than half since 1999. Lower-level units within the key spending units receive suballocations from the key unit.
The budget code prescribes that laws that do not meet this requirement should not come into force until the beginning of the year after the budget.
This timing has not been met on several occasions.