ΑΝΕΞΑΡΤΗΤΟΙ ΔΗΜΟΣΙΟΝΟΜΙΚΟΙ ΘΕΣΜΟΙ

Independent Fiscal Institutions Hellenic Fiscal Council and Parliamentary Budget Office Katerina Savvaidou Assistant Professor at Aristotle University of Thessaloniki Holder of Jean Monnet Chair “European Tax Policy and Administration” ISBN 978-960-654-488-0 Abstract: In the context of fiscal reforms adopted following the fiscal crisis, the establishment of Independent Fiscal Institutions was observed. These institutions are considered one of the most important innovations of the fiscal management architecture, as their presence is associated with more accurate and possibly less optimistic budget forecasts, as well as greater compliance with fiscal rules. Simi- larly, the establishment of the Parliamentary Budget Office and the Hellenic Fiscal Council was a key feature of fiscal reform in Greece. However, due to their short operation, as well as their non-external evaluation to date, we can not yet draw completely safe conclusions. Their work in the coming years will demonstrate whether these institutions are truly independent, credible and capable of fulfilling their institutional role. In this direction, their evaluation by an external evaluator will help, while the performance control that will be carried out by the Court of Auditors will be useful. The contribution of the Independent Fiscal Institutions to ensuring the transparency of government action, the accountability of the execu- tive and the fight against corruption can be evenmore decisive in dealing with the economic consequences of the coronavirus pandemic. COPYRIGHT All rights reserved. No part of this publicationmay be reproduced, stored in a retriev- al system, or transmitted, in any form or by any means, without the prior permis- sion of NOMIKI BIBLIOTHIKI S.A., or as expressly permitted by law or under the terms agreed with the appropriate reprographic rights organization. Enquiries concerning reproduction which may not be covered by the above should be addressed to NO- MIKI BIBLIOTHIKI S.A. at the address below. DISCLAIMER The content of this work is intended for information purposes only and should not be treated as legal advice.The publication is necessarily of a general nature; NOMIKI BIBLIOTHIKI, the author and the contributors make no claim as to the comprehen- siveness or accuracy of the information provided; Information is not offered for the purpose of providing individualized legal advice. Professional advice should there- fore be sought before any action is undertaken based on this publication. Use of this work does not create an attorney-client or any other relationship between the user and NOMIKI BIBLIOTHIKI, or the author, or the rest of contributors. 23 Mavromichali str. | 106 80 | Athens | Greece T +30 210 3678 800 | F +30 210 3678 819 www.nb.org | info@nb.org © 2021, NOMIKI BIBLIOTHIKI S.A. LawPublishers inEurope Also available at: www. qualex .gr