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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.

January 2019

January 2019
  • Economic conditions are generally seen as positive across the EU by IFIs, although the business cycle is thought to have peaked already.
  • Many EU budgetary watchdogs are critical of the lack of counter-cyclicality in the fiscal stance of their countries.
  • Nevertheless, most countries are evaluated to be compliant with numerical rules and targets. This is not the case in Italy and France in particular.
  • Several IFIs have repeatedly highlighted the lack of effective medium-term budgetary frameworks.
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Read In focus Endorsement of Macroeconomic Forecasts by EU IFIs

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