This year’s draft revised budget foresees a high general government deficit (-4.5% of GDP), equally affected by the intervention measures to cushion the impact of the cost-of-living crisis and the epidemic and the “core” deficit (excluding the impact of intervention measures). The latter is also the only reason for the significant increase in the deficit […]
The fiscal policy stance projected in the medium-term budget documents is on average neutral over the 2023–2026 period, but in the absence of reforms, the projections imply rather limited room for manoeuvre for fiscal policy in the years ahead. Most of the indicators used by the Fiscal Council in preparing its assessment show compliance with […]
The President of the Fiscal Council dr Kračun attended the 10th extraordinary meeting of the Commission for Public Finance Control. In his remarks, he emphasised introducing sufficiently defined reforms into medium-term budgetary plans and the credibility of budgetary planning, including in the proposed revised framework of economic governance in the EU as well as the […]
In the first three months of this year, the state budget had a deficit (EUR 324 million). Excluding the direct impact of expenditure on anti-COVID measures (EUR 58 million) and anti-inflationary measures (EUR 237 million), the deficit was EUR 30 million. Based on the latest available information, we estimate that the state budget expenditure on […]
The Fiscal Council has published two studies that present the challenges associated with two key elements of the European Commission’s proposal regarding the change in the EU’s economic governance: the medium-term fiscal plan and a study of debt sustainability and the related sensitivity of projections to changed assumptions. The proposed binding medium-term fiscal plan represents […]
In the first two months of this year, the state budget had a surplus of EUR 108 million. Excluding the direct impact of expenditure on anti-COVID measures (EUR 41 million) and anti-inflationary measures (EUR 94 million), the surplus was EUR 243 million. This year’s budget deficit is projected at EUR bn 3,314 or EUR bn […]