Fiscal Council

Pursuant to the Public Finance Act, the Government of the Republic of Slovenia appointed a Fiscal Council as a consultative body for an independent assessment of the fiscal policy and implementation of structural reforms.

The tasks of the Fiscal Council shall be:

1. to provide a subsequent assessment of the sustainability and stability of fiscal policy determined by the annual budget memorandum and programme of stability, and its compliance with the rules of the Stability and Growth Pact; the assessment of compliance shall consider the cyclical economic situation, and may be based on an independent assessment of economic trends by the Fiscal Council;

2. to provide an assessment of the adequacy of the fiscal objectives set within the mid-term macro fiscal framework;

3. to provide an annual assessment of the efficiency of the use of public funds, including European Union budget funds, on the basis of the annual financial statement;

4. to provide, on the basis of the annual financial statement and budgets adopted for subsequent years, an assessment of the trend rate of specific categories of fiscal income and expenditure from the perspective of their impact on fiscal sustainability;

5. to provide an assessment of the harmonisation of governmental fiscal policy with long-term fiscal sustainability in relation to the ageing of the population;

6. to provide an assessment of fiscal transparency and the quality of economic forecasts used in the preparation of the national budget;

7. to assess the efficiency of structural policy implementation with regard to ensuring the long-term sustainability of the public finances, economic growth and employment;

8. to assess the policy of general government borrowing and the policy of guarantees with regard to the fiscal sustainability and stability.

The Fiscal Council shall prepare an annual report containing the assessments referred to in points 1 to 8 of the preceding paragraph, to be published by no later than 30 April of the current year.