Skopje, 11 March 2025 (MIA) – Fiscal councils are an essential tool for countries, to help them manage their own budget, and this is particularly important for countries like North Macedonia that are on their path towards EU accession, World Bank Country Manager for Kosovo and for North Macedonia, Massimiliano Paolucci, said on Tuesday in Skopje.  

"Previous years have been years of crisis, which have led to increase in deficit and debt. But the advice provided by the Fiscal Council is essential, to advise the authorities to go back to clear fiscal rules targets. So today we are here to discuss, brainstorm on what would it take to actually implement the fiscal rules, what is the role of the Fiscal Council, what other countries have done to have this instrument work at perfection," Paolucci said ahead of Tuesday's conference "Fiscal Governance in the European Union and the Role of the Fiscal Council", organized by the Fiscal Council in North Macedonia and the World Bank.  

He pointed out that fiscal rules and the Fiscal Council are essential, noting that what is more important is the political commitment to walk the path of fiscal consolidation. 

"We welcome the very serious work that the Ministry of Finance has been doing through the preparation of strategies that go in the right direction," Paolucci said, thanking also the European Union for its support. 

Christian Weise, Head of the National Fiscal Frameworks and Institutions Unit, noted positive experience with independent fiscal institutions and fiscal councils, expressing support for the work and the new legislation.  

"Strong, competent and independent fiscal councils have really strengthened fiscal policy in the EU, and with that its credibility. Fiscal councils should be active on their own initiative, and it is very useful if they are involved in decision-making by government or parliament early on. That's why this event is very important," Weise said ahead of the conference. 

Photo: MIA