Independent Fiscal Institutions in the Revised Legal Framework State of Play

Oskar Grevesmühl

No 223, European Economy - Discussion Papers from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: Independent fiscal institutions, sometimes also called Fiscal Councils, are an important component of any national fiscal framework. As a result of the economic governance review at EU level, the role of IFIs in EU legislation was strengthened. In particular, the amended Directive on national budgetary frameworks, adopted on 29 April 2024, includes provisions regarding their independence, their compulsory tasks and also contains a provision on the comply-or-explain principle with regard to IFI assessments. This paper takes stock of where IFIs in the EU currently stand in relation to these provisions, which need to be implemented, based on information available by May 2024. The picture that emerges is heterogeneous, with some provisions already being well covered by most Member States, whereas for other provisions, virtually all Member States need to take action, in particular with regard to the new aspects of the EU legislation. The situation also varies across Member States, with some being more advanced than others.

JEL-codes: E62 H11 H60 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2025-07
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Persistent link: https://EconPapers.repec.org/RePEc:euf:dispap:223

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