Budgetary policy will continue to be geared to maintaining public finances close to balance or in surplus in the medium run, while supporting growth by acting in a counter-cyclical manner (and allowing automatic stabilizers to work fully) as envisaged in the Stability and Growth Pact.
While we would like to await the full report of the pilot program for detailed evaluation and discussion of the future road map, we have noted the observations made in the MD’s report that the assessments completed or underway reveal not only a great deal of priority attached to meeting international standards by authorities but also a wide range of compliance levels.