In addition to the non-conformity report sent by the Fiscal Council on 23 October about the decisions taken by the Cabinet on that day, the Council would like to highlight that in the same meeting the Cabinet adopted an agenda's item that foresees the redistribution of funds to the budget programme 02.00.00 "Funds for unforeseen events" (budget line "74 Funds for redistribution during the state annual budget implementation process") from the Ministry of Welfare budget sub-programmes in the amount of 5 465 000 euro.

On 11 October 2018, the Latvian Fiscal discipline council endorses the macroeconomic forecasts developed by the Ministry of Finance, that the government will use to develop the Latvian medium-term budgetary framework 2019-2021. At the same time, the Council insists on the very strict respect for fiscal discipline, so that, at a time when rapid economic growth is taking place, the fiscal space will not be expanded.

Evaluating the proposed Latvia's Stability Program for 2018-2021, Fiscal Council has concluded that the Government continues to implement responsible fiscal policy and in general respects the requirements of fiscal discipline. Meanwhile, the Council highlights a significant expansion of the fiscal policy plans compared to 2015 and 2016, which is not in line with the current favourable economic conditions and facilitates pro-cyclical directions (additionally warming economy and not reducing state debt). This has been recognised by the Fiscal Council in their annual interim report, which was published on 9 April and submitted to the Cabinet of Ministers.

The Fiscal discipline council, for the first time in Latvia, has conducted a survey of Latvia's largest parties on the fiscal impact of their pre-election promises before the forthcoming Saeima elections. The Council has founded that political parties express a responsible attitude towards the public finances. Report available also in English.

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In addition to the non-conformity report sent by the Fiscal Council on 23 October about the decisions taken by the Cabinet on that day, the Council would like to highlight that in the same meeting the Cabinet adopted an agenda's item that foresees the redistribution of funds to the budget programme 02.00.00 "Funds for unforeseen events" (budget line "74 Funds for redistribution during the state annual budget implementation process") from the Ministry of Welfare budget sub-programmes in the amount of 5 465 000 euro.

The Fiscal Discipline Council concluded that the decision taken on 23 October at the Cabinet of Ministers to reallocate savings from the budget sub-program "State Social Benefits" of the Ministry of Welfare did not comply with the Fiscal Discipline Law, as such a decision exceeds the maximum expenditure ceilings for 2018.

The Council press release is available in Latvian.

On 11 October 2018 Saeima approves Mrs Inna Šteinbuka as the Fiscal council member. More information available in Latvian here.

Council meeting was held on 20 September 2018 in which the experts of the Ministry of Finance participated.

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