PFMCL - What does PFMCL stand for? The Free Dictionary
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TOKI was initially under the scope of the PFMCL but was excluded by a special law in 2005.
The amendment to PFMCL stipulated that all these funds should be closed by the end of 2007.
PFMCL added a "risk account" to the budget as provision for risks from newly granted guarantees, but the total exposure arising from past commitments is not known.
5 below summarises the progress made to date regarding implementation of various elements of the PFMCL and provides updated recommendations.
Challenges in implementing key elements of the PFMCL
The PFMCL provided a broad framework for public finance management in Turkey in the context of an integrated approach covering the fiscal operations of the general government sector.