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On 23 April 2013, the Portuguese Public Finance Council published two new documents on the budgetary framework of local authorities and regional governments:
- Analysis of the Legal Proposals for New Subnational Finance Laws, Report No. 1/2003, April, Lisbon: Portuguese Public Finance Council;
- Analysis of Debt Limits in the Regional and Local Finance Bills, Occasional Paper No. 1/2013, April: Portuguese Public Finance Council.
They are the sequel to Report No. 2/2012, from September, that released a diagnose of Portuguese subnational finance and put forward a number of principles that could guide the drafting of the future local and regional finance laws. Indeed, the two publications above are focused on the bills the Government has submitted meanwhile to the Parliament with that purpose. Improvement suggestions can be found in the Report, which is the leading text and probably the most useful one for legislative work. The Occasional Paper addresses one issue only in the bills, the debt limits. It provides a retroactive analysis, applying the criteria in the bills to recent past data, which allows for some sensitivity on the goodness of the debt limits proposed by the Government.
Date of last update: 23/04/2013
