THERE are few public documents as important and as inviolable as the national budget of a country. "The national budget is not a mere book of numbers. It tells the story of our nation's hopes and dreams," said Jacob T. Lew, who was budget czar to former United States presidents Bill Clinton and Barack Obama.
Today, the European Union's dream to achieve economic parity with the US and China — the world's biggest and second-biggest economy, respectively — is partly anchored on the strategic use of its budget and the national budget of every member-country to help grow the bloc. This means that procurements done under these budgets should give preference to EU goods and services.
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