The working group reviews the government statement of the fiscal risks accompanying the draft annual budget and the budget framework laws as well as looks into broader issues of the fiscal stance and compliance with the FDL. The working group also assesses if the Fiscal Safety Reserve allocation has been sufficient to counter the probability of fiscal risks happening during the fiscal year.
The working group may engage experts to ensure that there is adequate analysis for the assessment of various fiscal risks.
A meeting of the Fiscal Risks Working Group of the Fiscal Discipline Council took place on 31 January 2017. The meeting was attended by representatives from the Ministry of Finance. The main items of discussion were the conditions for the reallocation of appropriations, improvements to the monitoring of fiscal risks and budget revenue execution trends. Main conlusions: it is necessary to improve the analysis of fiscal risks and the assessment of their impact on the fiscal balance. More attention should be paid to risks associated with state-owned and municipality-owned enterprises, and the implementation of public-private partnerships. The postive results of the work done by the State revenue service and the Ministry of Finance on reducing the size of the shadow economy and improving tax collection should also be noted. Meeting minutes.
A meeting of the Fiscal Risks Working Group of the Fiscal Discipline Council took place on 17 May 2017. The meeting was attended by representatives from the Ministry of Finance and there was organised discussions on tax reform proposal. Fiscal discipline council supports the goal to improve the tax reform, but at the same time highlights the necessity to assess if the reform's measures increase the economy potential and ensure the necessary level of revenues. Meeting minutes.
Last modified : 11 September 2017