www.fs-rs.si / News / News / Assessment of the sustainability and coherence of public finance policy with the fiscal rules on the basis of the proposal for the ORDINANCE ON AMENDMENTS TO THE ORDINANCE on the framework for the preparation of the general government budget for the period 2017-2019
Published: 04/25/2017

Assessment of the sustainability and coherence of public finance policy with the fiscal rules on the basis of the proposal for the ORDINANCE ON AMENDMENTS TO THE ORDINANCE on the framework for the preparation of the general government budget for the period 2017-2019

On the basis of the Fiscal Rule Act (ZFisP UL, 55/15 (2.) point 8 of Article 7) the Fiscal Council is obliged to provide an opinion on changes to the framework regarding the sustainability and coherence of public finance policy with fiscal rules. Pursuant to paragraph 2 of Article 6 of the Fiscal Rule Act (Official Gazette of the Republic of Slovenia [Uradni list RS], No. 55/15) the Ministry of Finance sent on 24 April 2017 a proposal to the Fiscal Council for an Ordinance on amendments to the Ordinance on the framework for the preparation of the general government budget for the period 2017-2019.

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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