Slovenia, Ljubljana, 20 June 2011
Main current challenges facing EU countries are fiscal consolidation and ensure sustainability of public finances. These issues are related to the quality of the consolidation strategy and the enhancement of fiscal framework including its governance. This requires a well design policy mix that enables a consolidation process that minimizes the negative impact on welfare and economic activity but also to mitigate the main risk countries face. Well design consolidation strategies involved decisions on the targets, speed and policies. It also involves considerations of political economy. Enhancing the fiscal framework play an important role in ensuring sustainability of public finances and can contribute to deliver fiscal consolidation that is lasting. Delivering on targets and policies depends critically on political commitment and ownership which makes the governance of the fiscal framework a critical dimension.
Section 1: Considerations for designing a fiscal consolidation strategy
Sekcija 2: Enhancing fiscal framework and its governance