The Institute of Public Finance (IFP) project

EU’s fiscal framework reform

In response to the risk of distortion of the core of the European fiscal framework reform by the Polish authorities, the Institute of Public Finance is creating an expert, independent committee to monitor implementation of the reform to the Polish Public Finance Act.

In November 2022, the European Commission, in its communication COM(2022) 583 final, presented orientations for a reform of the EU’s economic governance framework, in particular the structural framework for public finances. It is a kind of  a road-map for the budgetary process in individual countries, which is part of the process of economic governance across the EU.

In practice, it is a rule book with escape clauses that secures  public finances do not get out of control. At the same time, it enables reform and investment and reduces high public debt ratios in a realistic, gradual and sustainable manner. The reformed framework should help to build a green, digital and resilient economy of the future, while ensuring the sustainability of public finances.

The process of implementing the EU fiscal reform requires supervision and civic interest from the very beginning. It will determine the shape of public finances in Poland for many years, therefore it must be under the control of citizens and independent experts, because politicians tend to loosen budgetary rules that in long run is a detrimental for the entire society.

Within the project we will  appoint an expert, civic, independent committee to monitor the implementation of the reform in the Polish Public Finance Act. The team of experts will be joined by outstanding specialists in the field of public finance and European law, in particular practitioners, that used to work in the Ministry of Finance. The group of experts also includes co-authors of the Polish stabilizing expenditure rule (SRW), as well as persons responsible during the Polish EU presidency for the introduction of the existing fiscal framework in the EU.

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