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The government has made high spending commitments, which do not have sufficient resources in the state budget plans. The Fiscal Discipline Board could examine the possibility of developing a difficult budget for 2019 and pose problems to political parties to implement their priorities in the process of establishing the government.
It is particularly problematic to have a deficit budget in a context of rapid economic development. There is a very high risk that BNN informs the Fiscal Discipline Board in the event of a lack of control over the level of budgetary outlays, which could lead to a reduction in budgetary outlays or an increase in the tax burden to compensate for imbalances.
The Council held a regular meeting on Thursday, 29 November, on issues related to the proposed amendments to the Budget and Finance Management Act and considered the prospects for budgetary developments.
As is known, the Budget and Finance Committee of Saeima (Taxation) has started to examine a proposal to amend the law on budgetary and financial management, mainly because of the provisional budgetary regulation, until such time as that the new Saeima approves the new government. The proposal examined by the Saeima Commission proposes to lift the limitation of the estimated budget within a month to the authorization of expenditure not exceeding one twelfth of the expenditure approved in the budget of the Council. ;Previous exercice.
The Budget Disciplinary Board proposes to respect the maximum budgetary expenditure for 2019, which has been approved by the budget law on the medium-term budget for 2018, 2019 and 2020 in the preparation of the provisional budget. Any increase in expenditures for pensions, benefits and wages, which were not included in the medium-term law, should be fully offset by the reduction in other state budget expenditures, warn them. experts.
BNN has already written that Parliament, on Thursday, November 29, at first reading, had approved urgently the amendments to the budget and finance law, in order to guarantee the financing of the next financial year for a certain number of decisions. previously taken by the Saeima, including increases in pensions and benefits, salary increases for teachers and the achievement of the following objectives: Judgment of the Constitutional Court on the remuneration of judges and prosecutors.
The pbadionate amendments stipulate that next year 's budget expenditure can not exceed the expenditures set for the year in question in the Medium – Term Budget Framework Act.
Final reading on the amendments The law on budgetary and financial management Saeima plans to make its decision on December 6th.
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