The working group finds the forecasts reasonable while simultaneously indicating numerous downside risks  5 March 2015

On 11 February 2015 the GDP working group of the Fiscal Discipline Council took note of the presentation of the Ministry of Finance on the macroeconomic situation and forecasts for the 2015-2018 Stability programme. The working group finds the forecasts reasonable; simultaneously indicating numerous downside risks that might impact economic growth and thus the budget execution. Similarly to the recommendation of Fiscal discipline monitoring report of 2014, the Council wants to reiterate that the government needs to work on a strategy for revenue or expenditures measures in case tax collection projections would not be fully met. The GDP working group also appreciates the information from the Ministry of Finance on the issues of tax policy and municipalities.

The GDP working group was established on 29 May 2014. It comprises the following members of the Council: Martins Kazaks (chair), Ülo Kaasik and Morten Hansen