Budgetary matter is the important content of the Basic Law. This article discusses the issues of the institutional arrangements of budgetary powers from the perspective of constitutionalism and comparative law. In the framework set by the Basic Law, the Legislative Council approving budget meets the demands for financial democracy, the Government drawing up and introducing budgets embodies the idea of executive-led system, and the provision that the chief executive dissolving the Legislative Council or resignation due to budgetary problems follows the principle of check and balance of powers. The Basic Law lays the foundation of the budgetary powers, and it needs to be implemented through specific regimes and measures. Therefore, this article explores the amendment of the budgetary legal system of Macao SAR.