Monitoring team

The Independent Fiscal Institution (IFI) function

The NAOF's fiscal policy monitoring team monitors fiscal policy decision-making, the reliability of the information used in it, and the functioning of fiscal policy steering instruments.

The fiscal policy monitoring team consists mainly of economists and has a strong background in both research and the central government administration. The team is engaged in international cooperation with independent fiscal institutions (IFIs) of other countries. In Finland as well, the team develops its activities in interaction with other actors, such as national research institutes.

The fiscal policy monitoring team produces a report on the results of its monitoring twice a year. The spring report assesses the General Government Fiscal Plan, for example. The autumn report deals with the following year’s budget, and it is submitted to Parliament for discussion. Both reports assess compliance with the EU’s Stability and Growth Pact, the preparation and implementation of the General Government Fiscal Plan, compliance with the central government spending limits, the forecasts of the Ministry of Finance, and the fiscal policy stance in relation to the business cycle.