News

06/17/2020

Assessment by the Fiscal Council: Compliance of the general government budgets with the fiscal rules in 2019

According to the Fiscal Council’s assessment, in 2019 the budgetary policy was expansionary, although it should have been restrictive given the cyclical position of the economy. The expansionary policy largely derived from measures that did not promote the long-term economic potential, but rather strengthened disposable household income in the short term. According to the data […]

06/05/2020

The updated assessment of the actual fiscal impact of the adopted one-off anti-crisis measures and assessment of the fiscal impact of the Act Determining the Intervention Measures to Mitigate and Remedy the Consequences of the COVID-19 Epidemic (ZIUOOPE)

Combined with the exogenous effects of the epidemic, activities for the containment of the COVID-19 epidemic will bring about a sharp economic downturn. Extensive one-off measures have been adopted to mitigate these consequences, which will have a profound impact on the fiscal situation. The adoption and particularly the implementation of such measures require transparency, which […]

05/13/2020

Report on the Fiscal Council’s operations in 2019

The Fiscal Council has prepared a report on its operation in the past year which it is obliged to submit, pursuant to the Fiscal Rule Act, to the National Assembly of the Republic of Slovenia by the end of May each year. The Fiscal Council estimates that in 2019 all the obligations imposed by the […]

04/28/2020

Assessment by the Fiscal Council: Compliance of fiscal policy with the fiscal rules on the basis of the draft Stability Programme 2020 and the proposed Ordinance amending the Ordinance on the framework for the preparation of the general government budgets for the 2020-2022 period

On 24 April 2020, the Fiscal Council received the proposal for the Ordinance amending the Ordinance on the framework for the preparation of the general government budgets for the 2020–2022 period and the draft Stability Programme 2020 in order to assess their compliance with the fiscal rules. According to the assessment of the Fiscal Council […]

04/07/2020

Opinion of the Fiscal Council issued at the adoption of measures to mitigate the consequences of the COVID-19 epidemic

On 2 April 2020, the National Assembly approved the Act Determining the Intervention Measures to Contain the COVID-19 Epidemic and Mitigate its Consequences for Citizens and the Economy (hereinafter: the Act). International organisations recommend that measures be implemented in a rational order by addressing, as far as possible and as effectively as possible, the areas […]

03/17/2020

Introduction of conditions enabling the application of exceptional circumstances under the Fiscal Rule Act, and the publication of the assessment of the Coalition Agreement

The Fiscal Council concluded that the declaration of the epidemic in Slovenia constitutes an unusual event under Point 2 of Paragraph one of Article 12 of the Fiscal Rule Act (ZFisP) enabling the application of exceptional circumstances to measures mitigating the consequences of such an event, and hence allowing a deviation from the medium-term balance […]

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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