Fiscal council: there is a political revenue drawing 11 December 2018
Today the Fiscal Discipline Council held a regular meeting on issues related to the technical state budget, planned amendments to the Law on Budget and Financial Management, and also considered the assessment of budget implementation for 2017 and discussed other issues in the field of fiscal discipline.
Council member Andžs Ūbelis, after the meeting, said: "Parliament's proposals for amendments to the Law on Budget and Financial Management constitute a very dangerous precedent that macroeconomic forecasts are not made up of independent professionals, but such decisions could be taken politically. The coordination of macroeconomic forecasts is a task for macroeconomists that takes place in broad discussions involving sectoral experts and experts from independent institutions. The revenue forecasting without appropriate estimates is an unacceptable practice in budgeting. There is a political revenue "drawing"."
In accordance with Article 11 of the Fiscal Discipline Law, the budget execution (2013-2017) assessment is planned to be published on 14 December 2018.
Upon receipt of information from the Ministry of Finance on the technical state budget for 2019, the Council intends to publish an interim report on the technical budget by the end of this year.
At today's meeting the Council also took note of the yearly report on the results of the communication.