The Council said that the planned reduction of the exchange-rate-adjusted state debt ratio, to 75.4% of GDP at the end of 2015 from an expected 76.3% at the end of this year, could be met even if GDP grew slighty less and the deficit were slightly higher than projected in the draft. The Fiscal Council discussed the draft budget bill at a meeting yesterday.
It received the draft from the government on October 20. The Council has to publish its opinion or eventual disagreement with the budget draft before the government submits the bill to Parliament. The deadline for submitting the bill to parliament was recently extended to October 31.
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