Parliament approved late on Monday an amendment to the Act on Fiscal Responsibility that ends the mandate of the chairman of the Fiscal Council — an independent body established by the previous government to review fiscal policy — on December 31, 2010.
Parliament earlier approved legislation replacing the Fiscal Council's three members — independent economists elected by Parliament — with the central bank governor, the head of the State Audit Office (ASZ) and an economist to be appointed by the President of the Republic for a six-year mandate. The legislation also eliminated the Fiscal Council's staff.
The Fiscal Council's assessment of the government budget draft has been viewed as critical by some. (MTI-ECONEWS)