Skopje, 11 March 2025 (MIA) - Public finance reforms represent a key step for any country that is preparing for European Union membership, EU Ambassador Michalis Rokas told members of the Parliament's Committees on Economic Affairs and Finances and Budget on Tuesday.

In remarks during the presentation of the fiscal management in the EU and the role of the Fiscal Council, Ambassador Rokas said policymakers should consider fiscal councils as having a crucial role in the adoption of public policies.

"Fiscal Councils stimulate public debates on fiscal issues and transparency, which enables citizens, businesses and investors a better understanding of the fiscal and financial situation in their countries," said Rokas and welcomed the establishment of the Fiscal Council in the country and the efforts to strengthen its capacities and jurisdiction.

The EU Ambassador said the goal of the fiscal councils in the EU is to carry out oversight and monitor the adherence to fiscal rules, "towards avoiding the overly optimistic government projections or unsustainable plans for public expenditure that might lead to fiscal imbalance."

"We have been supporting public finance reforms with projects worth about EUR 13 million since 2018. The Fiscal Council's establishment in 2023 was a significant turning point in the alignment with the economic management framework. Policymakers should consider fiscal councils as having a crucial role in the adoption of public policies and their strengthening across the EU is seen as key to fiscal stability," noted Rokas.

According to him, fiscal councils are facing challenges in many countries, whereas their effectiveness depends on their independence.

"We expect parliaments to serve as important resources operating with real expectations and assessments. The role of the fiscal councils has been highlighted during the periods of crises," said Rokas.

Committee of Finance and Budget chairwoman Sanja Lukarevska said that a stable economy depends on respect for the fiscal rules and their implementation, adding that the Fiscal Council must enhance its role and call for transparency of government policies.

Committee on Economic Affairs chairman Bojan Stojanovski said the Fiscal Council consists of experts in the field, noting that the Parliament is always open for cooperation.

After the presentation, the Fiscal Council and the World Bank are hosting a conference on fiscal management in the EU and the role of the Fiscal Council.

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