Fiscal council 5 April meeting issues 5 April 2019
Fiscal council meeting was held on 5 April 2019. At the meeting were discussed fiscal rules calculations, which will be the basis for the Latvia's Stability Programme 2019-2022.
According to Part 7, Section 28 of the Fiscal discipline law, the Fiscal discipline council shall prepare and submit to the Saeima and the Cabinet's attention its opinion on fiscal policy matters if the Fiscal discipline council finds them important for compliance with the terms stipulated in the Fiscal discipline law.
Fiscal discipline council member Andžs Ūbelis presents Fiscal surveillance report (in Latvian) to the Saeima Budget and finance (taxes) committee.
The Fiscal Council finds the government's effort on the 2019 State budget insufficient to ensure that fiscal indicators are consistent with sustainable development needs and overcome pro-cyclical fiscal stance. The Council recognizes the existing legal framework insufficient to justify the solutions included in the 2019 national budget, and suggests that the government develops and approves an additional regulations for the treatment of compulsory (non-discretionary) expenditure and revenue as well as one-off measures in the calculation of fiscal conditions.
Fiscal council chairman Jānis Platais sharing joined experiences with CPB Netherlands Bureau for