The
____________________
____________________
is
the
financial
document
of
the
State
or
other
power
of
the
public
administration
,
which
balances
public
revenues
and
public
expenditure
in
the
fiscal
year
.
The
budget
is
a
fundamental
legal
institution
of
____________________
____________________
,
which
sanctions
the
competence
of
the
____________________
____________________
to
control
the
financial
activity
of
the
State
,
as
a
manifestation
of
the
representative
character
of
the
popular
sovereignty
that
the
parliament
supposes
.
The
public
budget
is
the
____________________
through
which
the
Legislative
Power
establishes
the
maximum
levels
of
expenditures
that
the
Executive
Branch
can
make
,
as
well
as
authorizes
the
indebtedness
and
the
financial
applications
in
which
it
may
incur
,
in
a
determined
annual
period
.
The
____________________
____________________
is
responsible
for
its
formulation
and
execution
,
while
the
Legislative
Power
approves
it
,
converting
it
into
law
before
the
beginning
of
each
year
.
Fundamental
____________________
of
the
public
budget
Legal
____________________
:
The
budget
is
a
fundamental
legal
institution
of
Public
Law
,
which
sanctions
the
competence
of
the
legislative
power
to
control
the
financial
activity
of
the
State
,
as
a
manifestation
of
the
representative
character
of
the
popular
sovereignty
that
the
parliament
supposes
.
Political
character
Periodic
elaboration
document
,
this
character
is
derived
from
its
political
nature
and
control
instrument
,
which
must
be
renewed
periodically
.
The
budget
adopts
an
____________________
____________________
.
From
this
point
of
view
the
budget
appears
formally
balanced
,
which
does
not
imply
that
from
the
economic
point
of
view
is
balanced
.
The
budget
supposes
an
____________________
of
expenses
and
a
forecast
of
income
It
represents
the
concretion
of
____________________
____________________
____________________
of
the
Public
Treasury
.
