THE ROLE OF FISCAL COUNCILS IN ACHIEVING ECONOMIC GROWTH AND FISCAL DISCIPLINE

Abstract

The European Union (EU) member states should ensure their long-term stability and prosperity, sound fiscal policies and discipline and here, fiscal councils play a crucial role. Fiscal councils are independent bodies responsible for assessing the government's fiscal policies, providing fiscal advice and monitoring the implementation of fiscal rules. This article discusses the role of fiscal councils in achieving economic growth and fiscal discipline in the EU. The article also highlights the importance of fiscal councils in promoting transparency and credibility in fiscal policies, providing early warning signals of potential fiscal imbalances, and contributing to the long-term stability and prosperity of the EU.