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The Ministry of Finance’s projections described as sufficiently conservative

April 25, 2018 at 10:49am
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The Fiscal Council describes as sufficiently conservative the projections of the Ministry of Finance for the Strategic Framework for Fiscal Policy 2019-2021 but notes that the macroeconomic projections face downside risks.

According to a press release issued today, the Fiscal Council, in a meeting on Monday, 23rd of April, examined the macroeconomic projections prepared by the Ministry of Finance which are to be included in the Strategic Framework for Fiscal Policy 2019-2021 and is of the opinion that the forecasts are within acceptable limits and based on the latest developments and data, are deemed to be sufficiently conservative.

The Council however notes that due to the limited progress in implementing the necessary reforms in the public and the private sector, the challenges faced by the banking sector and the potential deterioration of the external environment, the macroeconomic projections face downside risks.

It also notes that the reasoning and all supporting data upon which the Council’s decision was based will be included in the forthcoming Council’s Spring Report 2018.

CNA