Co-operation procedures amended: more precise obligations regarding deviations and recommendations fulfilment  9 August 2016

On 29 July 2016 the Ministry of Finance and the Fiscal discipline council updated the Memorandum of Understanding by adding more precise version about the obligations regarding the Fiscal discipline council recommendations (so called comply or explain principle), as well as with the assessment of deviations in accordance with the Fiscal discipline law.

The Chairman of the Fiscal discipline council Mr Jānis Platais notes that new provisions will be significant improvement regarding co-operation procedures and will also clarify the working procedures particularly regarding the correction mechanisms under the Law.

The Memorandum of Understanding consolidated version available here (amendment available here).