Finanspolitiska rådet
.

Finanspolitiska rådet
Box 3273, SE-103 65 Stockholm
Visit: Kungsgatan 12-14, Sweden

Phone:+46 8 453 59 90

info@fpr.se
www.fpr.se

The IMF studies the Swedish Fiscal Policy Council

3 September 2013

In a new paper, IMF examines the functions and impact of fiscal institutions in different countries. IMF concludes the following about the Swedish Fiscal Policy Council:

"In its short life, the FPC has influenced fiscal policy. At a key moment, it influenced the policy debate and contributed to promoting a more cyclically adjusted budgetary policy. To sum up, the council’s recommendations tended to be taken into account by the government in many cases, even if reluctantly on occasion, and sometimes with a time lag.

The strategy of the FPC to gain credibility by establishing its independent status through normative analysis combined with a focus on communicating its views through formal reports, parliamentary hearings, and actively building media relations, has proved relatively successful to date. In the Swedish context, despite the limited resources of the FPC and the lack of budgetary independence, the council has managed to be an independent watchdog with an active voice. This can be explained by the widespread political and public consensus and support for fiscal sustainability. And also by the fact that the FPC is embedded into an institutional framework where other independent agencies perform tasks that in other countries are exercised by a single council. The challenge for the FPC moving ahead is to continue to fulfill this remit with its limited resources."

IMF Case studies on Fiscal Councils (see p. 38-42 on the Fiscal Policy Council)

IMF The functions and impact of Fiscal Councils

The Council's Report

Background Reports 2018

Calendar