The Fiscal Discipline Council is responsible for approving the Ministry of Finance’s macroeconomic forecasts, in accordance with the scope of indicators outlined in Article 20 of the Fiscal Discipline Law.
In light of changes to the European Union’s fiscal and economic governance framework, the Council will now approve macroeconomic forecasts for the Fiscal Structural Plan and its progress report, as well as for the annual state budget and the medium-term budget framework.
On February 10, the Council received updated macroeconomic forecasts from the Ministry of Finance, which will serve as the basis for the first progress report of Latvia’s Fiscal Structural Plan for 2025-2028.
After review, the Council approved the Ministry of Finance’s macroeconomic forecasts for the 2025-2028 FSP progress report, considering them conservative.
The Council’s opinion on the Ministry of Finance’s macroeconomic forecasts is available [here.]
Comparison with previous period forecasts available [here]