News

09/22/2022

Assessment by the Fiscal Council: Assessment of compliance of the Draft Revised Budget of the Republic of Slovenia for 2022 and of the Proposal for the Ordinance amending the Ordinance on the framework for preparing the general government budgets for the 2022–2024 period with the fiscal rules

The draft revised budget foresees a reduction in the overall state budget deficit from EUR 3.1 billion in 2021 to EUR 2.0 billion in 2022. The decrease compared to last year is due to high nominal GDP growth and consequently higher revenues, and a much less negative impact of one-off factors on the balance than […]

09/05/2022

Monthly Information, September 2022

According to provisional data, the state budget deficit amounted to EUR -342 million in the first eight months of 2022, while, without taking into account the direct effect of COVID-related measures, there would have been a surplus of EUR 189 million. Revenues increased by 16.7% year-on-year in the first eight months of 2022 and 20.2% […]

08/22/2022

An ex post evaluation of forecasts of macroeconomic and fiscal aggregates in the reference period 2018 – 2021

The present analysis of deviations in forecasts, which the Fiscal Council is required to prepare every two years in accordance with legislation, is truncated. The legislation adopted in 2020 determines that 2020 and 2021 are not to be taken into account in the analysis of forecast deviations, which limits the relevance of this ex-post evaluation […]

07/07/2022

Public Finance and Macroeconomic Developments, July 2022

Public finance position continues to improve gradually on the back of strong revenue growth, coupled with a rapid recovery in economic activity and the withdrawal of support to mitigate the effects of the epidemic, while the rest of public spending is growing markedly. For the time being, heightened macroeconomic risks are mainly reflected in the […]

06/21/2022

Assessment of compliance of the general government budgets with the fiscal rules in 2021

Last year, fiscal trends were again seriously affected by the epidemic. The scope of measures taken to mitigate its impact was again substantial, however, the general government deficit decreased, mainly due to a marked rebound in economic activity and the resulting cyclically driven high revenue growth. Nevertheless, fiscal policy was pro-cyclically expansionary according to the […]

06/16/2022

Speech delivered by President Kračun at the meeting of the Commission for Public Financial Control

The Fiscal Council was invited to attend the first extraordinary meeting of the Commission for Public Finance Control, to be held on 16 June 2022, to discuss the agenda item: The fiscal situation in Slovenia and warnings of the Fiscal Council, namely the Fiscal Council’s assessment of the fiscal implications of the Coalition Agreement. The […]

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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