Mandate

Monitoring compliance with the national fiscal rules

... as well as with the formal requirements applicable to the budgetary authorities in the context of multiannual budgetary planning.

• Monitoring compliance with the Medium-Term Budgetary Objective (MTO), assessed based on the structural balance of the general government.
• Monitoring compliance with the maximum expenditure ceiling for the central government.

Monitoring the application of the automatic correction mechanism

... triggered in the event of a significant deviation of the structural balance from the MTO.

• Verifying whether the correction mechanism has been triggered.
• Monitoring the adoption and implementation of the corrective budgetary measures to be adopted by the Government no later than in the draft budget for the following year.
• Monitoring the existence of exceptional circumstances that justify the activation, extension or deactivation of escape clauses.

Assessing macroeconomic and budgetary forecasts

... prepared for the purpose of general government budgetary planning.

• Regular assessments based on objective criteria.
• In-depth analysis of the reliability of the forecasts.
• Identification of any potential biases.

Assessment of the National Medium-Term Fiscal-Structural Plan (MTFSP) and the Annual Progress Reports (RAA)

Mission introduced under the 2024 EU economic governance reform.

• Assessing whether the net expenditure path is consistent with budgetary outcomes.

Assessment of the national fiscal framework

Mission introduced under the 2024 EU economic governance reform.

• Analysing the consistency, coherence and effectiveness of the national fiscal framework, while also taking into account the European budgetary framework.