(8) The Cabinet Secretary shall take into account resolutions passed by Parliament in finalising the budget for the relevant financial year.

(9) The National Treasury shall publish and publicise the Budget Policy Statement not later than fifteen days after submission of the Statement to Parliament.

26. National Treasury to prepare Budget Review and Outlook Paper (1) The National Treasury shall prepare and submit to Cabinet for approval, by the 30th September in each financial year, a Budget Review and Outlook Paper which shall include— (a) actual fiscal performance in the previous financial year compared to the budget appropriation for that year; (b) updated macro-economic and financial forecasts with sufficient information to show changes from the forecasts in the most recent Budget Policy Statement; (c) information on how actual financial performance for the previous financial year may have affected compliance with the fiscal responsibility principles or the financial objectives in the latest Budget Policy Statement; and (d) the reasons for any deviation from the financial objectives together with proposals to address the deviation and the time estimated to do so.

(2) Cabinet shall consider the Budget Review and Outlook Paper with a view to approving it, with or without amendments, not later than fourteen days after its submission.

(3) Not later than seven days after the Budget Review and Outlook Paper has been approved by Cabinet, the National Treasury shall— (a) submit the Paper to the Budget Committee of the National Assembly to be laid before each House of Parliament; and (b) publish and publicise the Paper not later than fifteen days after laying the Paper before Parliament.

27. Publication of pre- and post-election economic and fiscal reports by National Treasury (1) The National Treasury shall arrange to be published— (a) a pre-election economic and fiscal update not earlier than four months before the polling day for any general election; and (b) a post-election economic and fiscal update not later than four months after the polling day of any general election.

(2) The pre-election and post-election economic and fiscal update shall— (a) detail all election related spending including— (i) direct election expenses such as those for the Independent Electoral and Boundaries Commission for costs of elections and election materials; 29 No. 18 of 2012 Public Finance Management [Rev. 2020] (ii) indirect election expenses such as allocations to police and security forces for the election year; and (iii) any other expenses related to the election specified in regulations or instructions; and (b) be accompanied by a statement signed by the Principal Secretary stating that the economic and fiscal updates include— (i) all policy decisions with material economic or fiscal implications that the national government made before the day on which the contents of the economic and fiscal updates were finalised; (ii) all other circumstances with material economic or fiscal implications of which the National Treasury was aware before those days; and (iii) a confirmation that the economic and fiscal updates were prepared using the best professional judgment and information available before the economic and fiscal updates were finalised.

(3) If the day of dissolution of Parliament is less than two months before the day appointed as polling day for the general election, the Cabinet Secretary shall arrange for the pre-election economic and fiscal update required under this section to be published not later than fourteen days after the day of the dissolution of Parliament. Other responsibilities of the National Treasury

28. Banking arrangements for national government entities (1) The National Treasury shall authorise the opening, operating and closing of bank accounts and sub accounts for all national government entities in accordance with regulations made under this Act.

(2) The National Treasury shall establish a Treasury Single Account into which all revenues received by national government entities shall be deposited and from which all payments of money to or on behalf of national government entities shall be made.