The usage of a medium-term budget framework is not a very recent practice, many Member States of the
European Union, have been using this concept in their national public finance practice long ago before this instrument
has become a priority of the Stability and Growth Pact developed by the European Commission. Thus Sweden has
introduced in its fiscal policy a medium term budget framework on a horizon of 3 years since 1997 in response to
fiscal and financial crisis that it has traversed in the early 90s. Also among northern states that have adopted amultiannual
budgetary framework are the Netherlands, in 1994 and Finland in 1995, the measure being taken to support