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This report analyses the Draft State Budget for 2019 (DSB/2019) and it follows the CFP’s Opinion regarding the macroeconomic forecasts underlying the DSB/2019.


The analysis is based on the information included in the law no. 156/XII that approves the State Budget for 2019, presented to the parliament on October 15. It’s also based on the draft sent by the Government to the European Commission and on additional information provided by the Ministry of Finance on October, 18.


Afterwards, the CFP requested further clarifying information which was partially responded on the October 24 and at a meeting on the next day. More information was received on the 26 and on the 29. Then, more questions were asked about the nature and the quantification of some policy measures but those were not responded.


For the assessment, general government budget aggregates have not been adjusted for the effect of temporary measures, one-off measures and other special factors. However, where relevant for a better evaluation of the fiscal consolidation effort, this adjustment is duly noted in the text.

Date of last update: 13/11/2018

State Budget . Report nº 13/2018 . 13 November 2018