Professor,Dr.habil.oec. Inna Šteinbuka elected as FDC Chairwoman  18 December 2019

On Tuesday, December 17, the Fiscal Discipline Council elected Mrs Inna Šteinbuka to serve as its chair for the next three years. Former Head Janis Platais, who chaired the Council since its inception in 2014, is leaving this post because, under the Fiscal Discipline Act, the same person can hold the office for more than six consecutive years.

On taking up his new post,Mrs Steinbuka expresses herdeep gratitude to Mr Janis Platas, who has laid the foundations for the Council and worked hard to strengthen the principles of fiscal discipline in Latvia.

The Council will continue to be a competent partner in dialogue with the executive and legislature branches of government on budget planning issues and develop analytical research capacity.

"While appreciating what has been done, I would like to see the Fiscal Discipline Council not as an outspoken critic of government decisions on the budget, but as a constructive partner for the government which expresses its independent opinion, engages in dialogue and whose recommendations are listened to," Mrs Steinbuka emphasizes.

Mrs Steinbuka also points out that in her future work she wants to establish closer cooperation between the Council and the Bank of Latvia, which is a powerful research center with great resources, as well as the academic environment.

As noted by Mrs Steinbuka, next year the FDC will continue to monitor annual budget planning, study the fiscal impact of potential tax changes and update Latvia's fiscal sustainability report, which looks at 20-year government debt developments, demographic trends and their implications for fiscal policy.

In order for the Council to provide a greater and better quality contribution in the areas of macroeconomic and fiscal analysis, an external evaluation by experts from similar institutions in other EU Member States will be completed.

Dr.habil.oec. Inna Steinbuka is a professor at the University of Latvia, director of the European Studies and Economic Diplomacy Master's program. Since October 2018, she has been an advisor to European Commission Vice President Valdis Dombrovskis. Between 2011 and 2018 she headed the European Commission Representation in Latvia. She has been with the European Commission since 2005 and has been Director of the Economic and Regional Statistics Division of the European Union Statistical Office and the Department of Social and Information Society Statistics. Previously, she headed the Latvian Public Utilities Commission, served as a Senior Advisor to the Director of the International Monetary Fund in the Nordic and Baltic Countries in Washington, and held various positions in the Ministry of Finance of Latvia. She is a member in "Economists Association 2010" and a full member of the Latvian Academy of Sciences. In 2008, Inna Steinbuka was awarded the Class III Three Star Order for outstanding financial and economic achievements.