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11/04/2021

Monthly Information, November 2021

According to provisional data, the state budget deficit amounted to EUR –2.339 billion in the first ten months of 2021, while without the direct effect of COVID-related measures the deficit would have amounted to EUR –423 million. According to the Ministry of Finance’s estimate of the out-turn in September, the state budget deficit is expected […]

10/18/2021

Assessment by the Fiscal Council: Assessment of budgetary documents for 2022 and 2023

The proposed budget documents set out an additionally stimulative fiscal policy for the coming years, over and above that included in the documents currently in force, although there are already signs of overheating in the economy, with supply-side constraints emerging. This increases the risk that the temporary exceptional increase in public spending, which was largely […]

10/08/2021

Assessment by the Fiscal Council: Compliance of the draft Ordinance amending the Ordinance on the framework for the preparation of the general government budgets for the 2020–2022 period with the fiscal rules

The proposal of the amended Framework allows for additional fiscal stimulus, given that economic conditions are better than expected at the time when the current Framework was drawn up. A significant increase in expenditure in 2021 would set the stage for an inappropriate structural deterioration of public finances in the future. According to the Fiscal […]

10/05/2021

Monthly Information, October 2021

According to provisional data, the state budget deficit amounted to EUR –2.453 billion in the first nine months of 2021, while without the direct effect of COVID-related measures the deficit would have amounted to EUR –388 million. A deficit of EUR –2.747 billion is envisaged in the state budget for the whole year. Revenue in […]

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