Fiscal Council

Bulgaria's government has approved a bill on the creation of a Fiscal Council.

The bill, titled Fiscal Council an Corrective Mechanisms Act, describes the new entity as an independent consultative body on issues of fiscal governance, according to reports of dnevnik.bg.

BELGRADE, - The 0.5 percent drop of economic activities for the year to come as envisaged in the 2015 budget has been realistically evaluated, but the forecast concerning a 1.5 percent increase for 2016 and the 2 percent growth for 2017 can hardly be achieved and is overly optimistic, the Fiscal Council stated on Tuesday.

BELGRADE - President of the Fiscal Council Pavle Petrovic said Monday that the Serbian government's proposal for the 2015 budget envisaged reducing the number of employees in the public sector by about five percent or about 27,000 employees.

BELGRADE - Serbia can achieve the projected economic growth of two percent in 2017 by increasing investments that will launch exports, President of the Fiscal Council Pavle Petrovic said on Tuesday.

BELGRADE - President of the Fiscal Council Pavle Petrovic said Tuesday that the International Monetary Fund (IMF) has recognized the significance of the reform of public companies in Serbia and intends to include monitoring the implementation of reform plans into its program.

BELGRADE - Fiscal Council member Vladimir Vuckovic said on Thursday that he expects Serbia to reach a deal with the International Monetary Fund (IMF) in the first months of 2015, noting that the uneasy task of cutting the public debt is still ahead for Serbia.

Public debt to reach 70 pct of GDP by year's end

BELGRADE -- Serbia's public debt will exceed EUR 23 billion and amount to around 70 percent of GDP by the end of 2014, the Fiscal Council said in its September report.

BELGRADE - Serbia's public debt will exceed EUR 23 billion and amount to around 70 percent of the GDP by the end of 2014, the Fiscal Council stated in its report for September.

Fiscal Council: Deficit in 2014 to reach RSD 300bn

BELGRADE -- The budget revision shows that the actual deficit in 2014 will be RSD 300 billion, rather than the 225 billion provided in the revised budget.

BELGRADE - President of the Fiscal Council Pavle Petrovic said on Monday the government would have to find a way to save EUR 700 million in the 2015 budget, which would pose a great challenge.