Budgeting has traditionally been the process through which governments decide how much to spend on what, limiting expenditures to the revenues available and preventing overspending. Over time, public budgets have taken on different roles, becoming tools for bargaining and allocating power, for planning and controlling, for providing impulses to the economic and social environment and for ensuring transparency and stakeholder involvement (Saliterer, Sicilia, and Steccolini Forthcoming). As such, budgets play, among others, political, economic, managerial and accountability functions. They perform a political function as they reflect stakeholders’ ...

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