Position of the Fiscal Council: The estimate of long-term fiscal effects of the amendments to the pension legislation indicates an additional increase in the cost of ageing, which must be presented by the Government publicly and transparently and which requires the adoption of comprehensive measures to provide sustainable public finances in the long term
The calculations submitted to the Fiscal Council by the Ministry of Labour, Family, Social Affairs and Equal Opportunities are similar to the estimates made by the Fiscal Council and indicate that the proposed legislation would have a significant impact on the long-term increase in the general government expenditure.
Slovenia has committed itself to establishing the Fiscal Council by ratifying the international Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, based on which the fiscal rule was integrated into the Constitution in 2013, while in 2015 an implementing act – the Fiscal Rules Act – was adopted.
The Fiscal Council is an independent and autonomous state authority supervising the management of the fiscal policy. Its fundamental task is to monitor the compliance with the fiscal rule, the medium-term balance between revenue and expenditure without borrowing, except in exceptional circumstances, and to monitor the implementation of the EU legislation regulating the economic governance in Member States.
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