EU Independent Fiscal Institutions 🇪🇺

Feed of the Network of European Union Independent Fiscal Institutions.

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Last week Independent Fiscal Institutions and Partliamentary Budget Offices all around the world met in Paris.

These meetings are a unique to connect with colleagues beyond Europe and learn from their experiences.

Thanks to the @OECD for making that happen

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

The @upBilancio's latest Report on recent economic developments is out!

UPB estimates that GDP rose in Q1, with high margins of uncertainty due to global tensions. The ongoing conflict's effects are likely to show in economic data for coming quarters.

🔗https://t.co/scJ1c4rwly

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Check out the @FiskalnisvetRS latest publication🗞️

🔎The deteriorated fiscal situation & outlook calls for more prudential planning and fiscal management. The planning of changes with a significant impact on public finances must be long-term.

READ MORE: https://t.co/tzCO2EQiLb

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

The @upBilancio's latest hearing concludes that the determination of Essential Levels of Performance in 🇮🇹 may be an opportunity to strengthen the system's coherence only if it's embedded in an overall strategy for completing fiscal federalism.

READ MORE: https://t.co/hfZAI1mPUX

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

The @cfp_pt's Opinion on the Annual Progress Report 2026 is out!

🔍The rate of growth in net expenditure calculated by the CFP for 2025 shows a deviation from the commitment made by 🇵🇹 that doesn't lead to the opening of an excessive deficit procedure.

🗞️https://t.co/n7H5G67Uhp

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

According to the HFISC's Assessment on the Annual Progress Report 2026, 🇬🇷Greece's high public debt & debt repayment obligations require fiscal prudence. Maintaining fiscal discipline is essential to ensure economic stability and reinforce confidence.

🔗https://t.co/I8Sb0V12FZ

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Check out the @upBilancio Focus on the 2026 Budget Law🗞️

🔍Analysing the financial effects compared to the current legislation scenario for 2026-28, the impact on the recipients & the main changes introduced during the parliamentary process.

READ HERE: https://t.co/X7ayT5Jf5x

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

📌 @AIReF_es Report on the Initial Budget of the General Government 2026 foresees a risk of non-compliance with both the 🇪🇸national and 🇪🇺European expenditure rules in 2026 amid high uncertainty.

👉READ HERE: https://t.co/QT8zG4nqUl

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

🗞️The @upBilancio published a flash note on the 6th revision of the NRRP & its effects on net borrowing.

The revision of the Plan leads to an improvement in net borrowing equal to €4.783 billion in 2026, €0.727 billion in 2027 & €81 million in 2028.

🔗https://t.co/KntylTiZam

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

The @cfp_pt published its "Economic & Fiscal Outlook 2026-2030"!

In 2025, the 🇵🇹economy grew by 1.9% in real terms, in line with CFP projections. The CFP projects real GDP growth of 1.6% in 2026, a downward revision compared to the September scenario.

🔗https://t.co/ec1dVIQGtO

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Deep dive into the 🇪🇺Fiscal Monitor – our flagship publication!

Finding # 5️⃣: IFIs are more cautious than governments about new safeguards.

IFIs highlight two main areas of concern:
📌 Capacity constraints
📌 Access to information

🔗 Read more: https://t.co/8nHqy0PSJD

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

The 🇲🇹 IFI published its "Annual Report & Statement of Accounts 2025"!

🔎Covering its activities, including contributions to the Network, the development of a heatmap for the Maltese economy, and the analysis of government expenditure composition.

🔗https://t.co/nXb2uofYgF

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

🗞️ Check out the 🇱🇹 NAO's Opinion on the Economic Development Scenario!

🚨 The greatest risk to the economic prospects at present is the war in Iran, whose course will determine the development of both the Lithuanian & global economies.

READ HERE: https://t.co/57qu93uZtc

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Deep dive into the 🇪🇺Fiscal Monitor – our flagship publication!

Finding # 4⃣: IFI involvement in transposition varies widely.

🟢 Most IFIs report high involvement
🟡 Several faced challenges
🔴 Only four IFIs report no involvement at all

🔗 Read more: https://t.co/8nHqy0PkU5

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Deep dive into the 🇪��Fiscal Monitor – our flagship publication!

Finding # 3️⃣: Progress on transposing Directive (EU) 2024/1265 is uneven:
🟢11 IFIs are satisfied with progress
🟡12 report some but insufficient progress
🔴2 report no progress

🔗Read more: https://t.co/8nHqy0PkU5

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Deep dive into the 🇪🇺European Fiscal Monitor – our flagship publication!

Finding # 2️⃣: Defence spending is the central fiscal risk currently. 90% of IFIs see it as an important risk in both the short and medium term.

🔗 Read more: https://t.co/8nHqy0PkU5

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Deep dive into the 🇪🇺European Fiscal Monitor – our flagship publication! A new series highlighting some of the key findings from this year's winter edition👇

Finding 1️⃣: IFIs are doubtful that the net expenditure growth path will be respected.

Read more: https://t.co/8nHqy0PkU5

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

On 11 March, we hosted a webinar that took stock of the first 2 years of the 🇪🇺's reformed fiscal framework & explored how it can remain credible while political pressure to accommodate higher public spending demands increases. Take a look at the speakers' key takeaways below! 👇

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

Check out the latest statement by the 🇩🇪German Independent Advisory Board of the Stability Council!

🔍 The Advisory Board has doubts as to whether the federal government's macroeconomic and fiscal forecasts are sufficiently consistent.

READ HERE: https://t.co/WCwJ6O9eSW

[EU Independent Fiscal Institutions 🇪🇺 @eu_ifis]

A new article by Daniel Dăianu, Chair of the Romanian Fiscal Council, argues that fiscal consolidation is mandatory in order to improve 🇷🇴Romania's sovereign rating and ensure economic stability.

READ IT HERE: https://t.co/pYPXqpmlU1