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10/16/2023

Assessment by the Fiscal Council: Assessment of budgetary documents for 2024 and 2025

The draft budgetary documents indicate a deteriorating fiscal situation and a continuation of pro-cyclical expansionary fiscal policy this year and next, given a more realistic assessment of fiscal developments this year than the one presented in the documents. This conclusion is independent of the extensive funding foreseen for reconstruction after the natural disaster in August. […]

10/05/2023

Monthly Information, October 2023

In the first nine months of 2023, the state budget recorded a deficit of EUR 764 million, which amounted to EUR 57 million excluding the impact of various intervention measures. State budget trends in the first nine months were worse than in the same period last year. The total deficit was higher (by EUR 445 […]

09/05/2023

Monthly Information, September 2023

In the first eight months of 2023, the state budget recorded a deficit (of EUR 735 million), which amounted to EUR 95 million excluding the impact of expenditure to contain the epidemic (EUR 161 million) and measures to mitigate the cost-of-living crisis (EUR 479 million). The eight-month outturn confirms the Fiscal Council’s assessment on continued […]

07/13/2023

Public Finance and Macroeconomic Developments, July 2023

In the first half of this year, the fiscal situation deteriorated slightly, which is mostly related to high inflation. Its initial positive impact on revenue, which was noticeable last year, has gradually faded and with a certain delay the pressure on expenditure increased, as expected. The direct impact of intervention measures has been slightly less […]

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