Assessment by the Fiscal Council: Compliance of the general government budgets with the fiscal rules in 2017

The Fiscal Council assessed the compliance of the general government budgets with the fiscal rules in 2017. In accordance with the provisions of the Fiscal Rule Act the Fiscal Council made an assessment of the compliance of the general government budgets with the fiscal rules in 2017.

The Fiscal Council assessed that last year’s fiscal policy was countercyclical and restrictive, which is appropriate in view of the economy’s currently estimated cyclical position.

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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