The Fiscal Council performs its tasks according to the Article 7 of Fiscal Rule Act. These tasks include the assessment, which may also include recommendations, of the compliance with the fiscal rules as defined in either the Fiscal Rule Act, other legislation dealing with public finances or EU rules defining economic governance in EU Member States. In addition to the provisions of the Fiscal Rule Act, the Act Amending the Public Finance Act from February 2018 also imposed on the Fiscal Council the task of assessing historical macroeconomic forecasts that constitute the basis for the preparation of budget documents, while the Decree on development planning documents and procedures for the preparation of the central government budget from May 2018 also delegated the Fiscal Council with the task of the quality assessment of historical fiscal projections.
The Fiscal Council has adopted a regular annual work plan. In terms of its schedule, the annual work plan is largely defined by the procedure of preparing budget documents and by the publication of important macroeconomic and fiscal data. The Fiscal Council usually meets once per week at closed sessions.