The President signed the law on the Fiscal Council. The new agency will be operational in 2026.
On Friday, President Andrzej Duda signed the regulations establishing the Fiscal Council. The new advisory body will include: issued opinions on macroeconomic forecasts used for the development of the draft budget law and the draft medium-term budget and structure plan; issued opinions on whether the draft budgetary law complies with national and EU budgetary rules; assessed the compliance, coherence and effectiveness of the budgetary framework; provided opinions on draft government documents in terms of their impact on the stability of public finances and the macroeconomic situation of the country (at the request of the Minister of Finance).
Budget Council
The Fiscal Council will start carrying out its tasks in 2026. It will consist of seven independent experts and practitioners. The members will be elected by: the President, the President of the Supreme Court of Audit, the Conference of Rectors of Polish Academic Schools, the Minister of Finance, the employee side of the Social Dialogue Council, the employer side of the Social Dialogue Council and the local government of the Joint Commission on Government and Territorial Self-Government. Representatives of the Fiscal Council are open to individuals with at least ten years of experience in public finance, macroeconomics or financial management of public financial sector entities and a master’s degree. The President of the Fiscal Council will be elected through an open four-stage procedure.
A member of the Council may be a person who is a Polish citizen, enjoys full public rights, has full legal capacity, has not been convicted by final conviction of an intentional crime or an intentional fiscal offense and has an impeccable reputation. However, the members of the council cannot include: MPs, MEPs and senators, members of the European Commission and representatives of local government.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
