New rules to improve the fiscal management framework

The government has planned at a midterm to strengthen the fiscal management framework, by putting new obligatory procedural rules that will eliminate the unrealistic GDP forecasts. Previously, the positive forecasts of GDP and state revenues have affected negatively in the stability of annual state budgets.

The strategy of public finances management for 2014-2020 period foresees that the fiscal management will improve by creating a new fiscal rule that will lead all fiscal policies to a long term stability of the public debt. This will leave space for creating unpredictable fiscal policies for specific situations in order to avoid economic decrease.

Another measure to be taken by the Ministry of Finances is the limitation for the usage of incomes from privatizations as a pretext to receive new loans or investments. New rules will also be set for the usage of state revenues during the electoral months, with the aim to prevent public debt depletion.