www.fs-rs.si / News / News / Assessment by the Fiscal Council: Compliance of the supplemented Proposal of budgets of the Republic of Slovenia for 2020 and 2021 with the fiscal rules
Published: 11/14/2019

Assessment by the Fiscal Council: Compliance of the supplemented Proposal of budgets of the Republic of Slovenia for 2020 and 2021 with the fiscal rules

Having reviewed the supplemented proposal of the budget documents (the supplemented 2020-2021 Budget proposal and the supplemented 2020 Draft Budgetary Plan), the Fiscal Council continues to assess that the fiscal development projections are clouded by significant negative risks. While projections formally comply with the fiscal rules, the Fiscal Council still notes inconsistencies between the projections of certain items and the proposed or applicable measures. The materialisation of only a small fraction of identified risks could result in a deviation from formal compliance.

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 Rule 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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