Evaluation of the General Government Budget Proposal for 2014-2016 (November 2013)

Evaluation of the General Government Budget Proposal for 2014-2016 (November 2013)
The Fiscal Responsibility Act places on the Council for Budget Responsibility a duty to monitor and evaluate the development of public finances. Consequently, the CBR issues, twice a year, its independent opinion on the prepared general government budget for the forthcoming period, namely in the phase of preparing the Medium-term Budget Outline (April) and following the submission of the government-approved budget proposal to parliament (by 15 October). The purpose of the CBR opinions is to offer an independent view on the budget and assess whether the fiscal policy setup is sufficient in terms of achieving the targets set and, at the same time, to identify potential risks which need to be eliminated through the adoption of additional measures.
 
On 12 November 2013, the Council for Budget Responsibility published its evaluation of the General Government Budget Proposal for 2014-2016 as approved by the Slovak government. In light of the changes introduced by the parliament to the government’s budget proposal and given the availability of new information on budgetary risks, the CBR considered it necessary to update its evaluation in addendum.
 
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