Fjárlánum

Fjárlánum refers to the budget or financial plan of a government, typically for a fiscal year. It outlines the government's expected revenues and planned expenditures. In Iceland, the government prepares and presents a national budget, known as fjárlögin, to the Althing (parliament) for approval. This process involves estimating income from taxes, fees, and other sources, and allocating funds to various sectors such as healthcare, education, infrastructure, and social services. The fjárlög is a crucial document that reflects the government's priorities and economic policies. It undergoes parliamentary debate and amendment before being enacted into law. The Ministry of Finance and Economic Affairs is generally responsible for drafting and overseeing the budget. The approved budget serves as a roadmap for government spending and fiscal management throughout the year, and its execution is subject to monitoring and reporting. Adjustments may be made through supplementary budgets if circumstances change significantly.