Cabinet started the procedure for the drafting of budget 2008 earlier than usual to try guaranteeing balanced fiscal policies.

Ministers will try to come up with policies guaranteeing stability and effective distribution of budget resources, a Council of Ministers press release said.

Draft budget 2008 will pass through four stages before getting final approval. Initially cabinet will get information from institutions that make use of state budget.

The Cabinet is to decide on a fiscal framework and economic policies for a three-year term. The third stage involves determining expenditure and finally ministers will draft the budget itself.

Cabinet will also update expenditure levels for the period from 2008 to 2010 based on macroeconomic policies and the execution of policies.