Advertisement
Advertisement
off-budget
[awf-buhj-it, of-]
adjective
not included in the regular federal budget; funded through separate agencies.
Example Sentences
Earlier this year, government and opposition parties linked up in Parliament to create off-budget funds worth more than a trillion dollars to be spent on the military and on infrastructure over the next decade, the biggest military ramp-up in Europe in decades.
The EU budget can’t be used to buy arms, under current expert interpretations of the bloc’s treaties, but the special fund — known as the European Peace Facility — runs off-budget and doesn’t have to respect the same legal standards or be approved by the European Parliament.
Since then, further crises have piled up, forcing it to resort ever more to off-budget funds, even as debt has become more expensive with interest rates rising.
Others have proposed solutions that do not involve touching the brake, such as creating a new off-budget fund written into the constitution, like the special fund to upgrade the military established after Russia's invasion of Ukraine last year, to focus on investment.
The increase would be 8% when including an additional $1.3 billion in new proposed spending through off-budget accounts.
Advertisement
Advertisement
Advertisement
Advertisement
Browse