In accordance with the Fiscal Discipline Law once in a quarter the Council prepares a report on the implementation of the revenues and expenditures side, taking as the source State Revenue service revenues data and Treasury data on expenditures data.

Quarter I of 2017.

A Fiscal discipline council meeting took place on 9 February 2017. The meeting was attended by representatives from the Ministry of Finance, who informed Council members about the latest macroeconomic forecasts that will be used when preparing Latvia’s Stability programme 2017-2020Questions relating to public expenditure on health care were also addressed during the meeting. Special attention was paid to the long-term financing needs of the health care sector.

The Council’s opinion on the additional funds granted to the health care sector is available here.

On 30 March 2017 in cooperation with European Commission Representation in Latvia there was held the expert discussion on Latvia's tax policy reform strategy

Programm, presentations and video (in Latvian) available here.

In the report (December 2016) on public debt argues that, while the current level of public debt is still below the threshold specified in the Fiscal Discipline Law and the Maastricht Treaty, the persistence of deficit spending and a contracting labour force may create sustainability issues in the long term.

Council Macroeconomics expert's Elīna Veide and Fiscal risks expert's Emīls Ķīlis research paper is available here

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Despite the annual growth rate of Latvia’s economy reaching an average of 3.3% between 2011 and 2016, public debt has increased by 1.37 billion euro (1.09 billion was used to finance the general government deficit). This corresponds to a per capita increase of 921 euro (from 4 178 to 5 098 euro) and per employed person increase of 1331 euro (from 10 310 to 11 641 euro).

The Fiscal Discipline Council has analysed the most important plans that have been included in Latvia’s Stability Programme 2017-2020. Decisions that bear on tax policy, the reduction of unemployment and health care have been assessed. The Council has endorsed and the macroeconomic development scenario used as the basis for drafting the budget and looked into key fiscal rule issues. However, the Council is concerned that government expenditure is increasing more rapidly than the economic growth potential.

On 6 April 2017 in the 9th Annual meeting of the OECD network of Parliamentary budget officials and independent fiscal institutions Latvian Fiscal discipline council chairman Jānis Platais has provided the presentation on the Council experience.

The Fiscal Discipline Council, in cooperation with the European Commission Representation in Latvia, is organising an expert discussion on the tax policy reform proposed by the Ministry of Finance. The purpose of the discussion is to consider whether the implementation of the reforms proposed by the Ministry of Finance will ensure the achievement of tax revenue targets.

Fiscal discipline council is looking for the expert in macroeconomics. More information available in Latvian.

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