News

According to preliminary data, the state budget deficit for the first nine months of the year amounted to EUR -462 million, which is EUR 300 million lower than in the same period last year. According to the latest available estimate by the Ministry of Finance, the end-of-year deficit is expected to amount to EUR -1,407 […]

According to preliminary data, the state budget deficit in the first eight months of the year amounted to EUR 431 million, which is EUR 300 million lower than in the same period last year. The lower deficit is mainly the result of higher revenues, despite the strengthening of growth in “core” spending, but also of […]

The deviations of the macroeconomic and fiscal forecasts for the 2020–2023 period were larger than the long-term average. This is partly understandable, as this period was marked by large unexpected shocks. Although the 2020 intervention legislation provided for 2020 and 2021 to be excluded from the ex post analysis of forecast deviations, it is important […]

Both the general government and the public finance budgets are running deficits at the start of the year. This is the result of high growth in “core” expenditure, against a background of favourable revenue dynamics, mainly reflecting labour market conditions and also high nominal wage growth due to inflation. The end-of-year deficits, as estimated by […]

The fiscal position improved last year; contrary to the Government’s plans, the fiscal policy was relatively restrictive. The reduction in the general government deficit below the Maastricht limit was made possible by the favourable macroeconomic situation, particularly in terms of public finance. Realised public spending was within the adopted three-year framework. Given that, when the […]

The Fiscal Council concluded a multi-year project with which we obtained a new model tool for assessing the long-term sustainability of public finances, with an emphasis on risks due to demographic changes. The project was financed by the European Commission within the Instrument of Technical Support to Member States (https://commission.europa.eu/funding-tenders/find-funding/eu-funding-programmes/technical-support-instrument/technical-support-instrument-tsi_sl ). The Danish DREAM Institute […]