Twice a year the PBO publishes a Report that discusses the assessments of the Government’s macroeconomic and public finance forecasts, as well as compliance with national and European fiscal rules:

  • in the spring – in conjunction with the presentation of the Stability Programme – the “Budgetary Planning Report”
  • in the autumn – in conjunction with the budget session – the “Budgetary Policy Report”.

Immediately before the publication of each report, the PBO completes the process of validation of the macroeconomic forecasts contained in the Government’s planning documents, using the criteria established by EU legislation. The validation letters for the macroeconomic forecasts for each report can be found on this page.







2019 Budgetary Policy Report

Letter on the new macroeconomic scenario for 2019 presented by the Government to the European Commission

(22 December 2018)

Not validation letter for the 2019 macroeconomic policy scenario (13 October 2018)

Validation letter for the 2018-2019 macroeconomic trend scenario (19 September 2018)





Validation letter for the 2018-2021 macroeconomic trend scenario (5 April 2018)







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