On 16 June 2017 in Tallinn, at National Central Bank of Estonia, for the third time there have met Baltic-Finnish Independent Fiscal discipline institutions. At the annual meeting there have been discussed topical issues of the budget and fiscal policy analysis process of our neighbouring countries.
Macroeconomics research procurement 15 June 2017
Fiscal discipline council announced research procurement. Procurement application's deadline is 25 July 2017 17:00 o'clock.
On 6 June the Fiscal discipline council (hereafter – Council), in cooperation with the European Commission Representation in Latvia, organised a discussion on fiscal sustainability and the role of the public sector in stimulating economic growth and social welfare. As a result of the discussion, it was concluded that the current level of tax revenues is insufficient to meet the needs of the country and there is a risk that the level of public debt will increase.
After receiving and discussing the report from the State Audit Office (approved on 26 April), which claims that the Council has exceeded its institutional mandate by hiring three full-time experts, the Council acknowledges the existence of a legal problem and, in cooperation with the Ministry of Finance and the Saeima, will attempt to resolve it as soon as possible. The Council stresses that the problem arose due to the fact that the execution of its functions objectively requires more than one full-time employee. This has also been acknowledged by the Ministry of Finance and the Saeima.