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The Portuguese Public Finance Council (CFP) is an independent body that oversees the compliance with budgetary rules and the sustainability of public finances in Portugal.

 

The Council began its activity in February 2012 and its mission is to conduct an independent assessment of the consistency, compliance and sustainability of fiscal policy, while promoting fiscal transparency, in order to contribute to the quality of democracy and of economic policy decisions and to enhance the State’s financial credibility.

 

The CFP is the independent body in Portugal that carries out the monitoring role established in Community legislation. It is one of the European fiscal councils, also known as fiscal watchdogs.

 

The CFP was established by Law no. 22/2011 of 20 May, following the 5th amendment to the Budgetary Framework Law (Law no. 91/2011 of 20 August). The current Budgetary Framework Law refers to the CFP in article no. 7.