The higher education budget is based on a multi-year plan with the intention of facilitating budgetary certainty to institutions of higher education and to promote national goals.

In the new budget model of the higher education system (which was approved by the Planning and Budgeting Committee (PBC) on 3.11.2010), the following principles apply:

• Budgeting is based on output.
• Increasing planning certainty to institutions.
• Boosting model transparency to institutions and the general public.
• The model’s improvement as a major tool to motivate the institutions to attain the goals of the higher education system involve, amongst other things, encouraging scientific excellence in research.
• Improving the quality of education and the acquired human capital.
• Reference to other national needs such as the employment market’s needs, and more.

In addition to the main objectives, the PBC established two supporting sub-targets: sharpening the relative benefits of the institutions and the absorption of outstanding young staff.

Historical Overview and the New Budget Model