Tasks of the Fiscal Advisory Council

The tasks of the Fiscal Advisory Council are set out in the Fiscal Advisory Council and Productivity Board Act (Federal Law Gazette Part I No. 226/2021). They have evolved in line with the development and enhancement of the EU fiscal framework since the Stability and Growth Pact entered into force in 1997, which was aimed at improving the coordination of fiscal policies across member states and monitoring fiscal compliance through national independent fiscal institutions (IFIs). The tasks of the Fiscal Advisory Council include:

  • assessing Austria's fiscal situation and preparing fiscal forecasts
  • analyzing the macroeconomic impact of public debt
  • analyzing the sustainability and quality of Austria's fiscal policies
  • reporting its analyses and findings to the Austrian parliament on an annual basis
  • providing written recommendations on Austria's fiscal policies and the medium-term fiscal stance
  • monitoring Austria's compliance with national and EU fiscal rules in a timely manner
  • contributing to the public debate
  • Regular assessment of the quality of macroeconomic and fiscal forecasts
  • Active participation in national and international for a

The Fiscal Advisory Council publishes a summary of its activities, including those of its Office, in its in its Annual Activity Report (DE).