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European Fiscal Monitor

The European Fiscal Monitor is published twice a year and involves contributions from individual EU IFIs (or fiscal councils) on the main events and challenges in the economies, public finances and fiscal frameworks of EU member states. The aim of the publication is to provide the IFIs with a platform to convey their key messages to an international audience interested in national budgetary matters. Each individual entry in the European Fiscal Monitor is the sole responsibility of the respective national IFI.

July 2018

July 2018
  • Macroeconomic outlook continues to be benign but IFIs see within-EU negative spill-overs, global factors as well as high domestic private debt as a source of downside risk to outlook
  • EU IFIs warn of lack of ambition in fiscal targets despite favourable cyclical conditions
  • Demographic changes not only complicate the longer-term outlook but already start to bite in some places
  • Read the Overview in Full
  • In focus: Forecasting and Forecast Evaluation at EU IFIs
  • In focus: Medium- Term Budgetary Frameworks


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