Are you sure?

Parliament approves amendment ending mandate of Fiscal Council chair

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)