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  1. In May 2021, the AWG of the EC has published updated demographic, economic and budgetary projections for EU member states within the framework of the AR 2021. In this context, the CNFP has just published an Assessment of long-term fiscal sustainability, its third evaluation of this kind and that follows two earlier evaluations from October 2017 and June 2018.

  2. In accordance with the provisions of the 12 July 2014 law, the CNFP has assessed compliance with the structural balance rule on the basis of the figures transmitted to the European Commission (Eurostat) in the so-called “EDP notifications”.

  3. In accordance with the tasks conferred to it under article 8, point b), of the law of 12 July 2014 on the coordination and governance of public finances, as amended (law of 12 July 2014, as amended), the National Council of Public Finance (CNFP) presents its assessment of the accuracy of forecast of macroeconomic and budgetary data.

  4. In application of the tasks conferred to it under the 12 July 2014 law on the coordination and governance of public finances (12 July 2014 law), the National Council of Public Finance (CNFP) presents in this document its assessment of the long-term sustainability of public finances in the face of a projected increase in age-related expenditures.

  5. The Medium-Term Objective (MTO) is one of the cornerstones of the national and European fiscal governance framework. More specifically, the level of the MTO is supposed to be reviewed for a new 3-year period (2017-2019) in the context of the upcoming update of the Stability and Growth Programme of the Government by the end of April.

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