C
OUNTRY
TYPE OF RULE
DEFINITION OF THE RULE (AGREGATE TARGETED
& RELEVANT
ACCOUNTING SYSTEM
)
SECTOR
(S) COVERED
TIME FRAME
STATUTORY BASE
BODY IN CHARGE OF MONITORING
ENFORCEMENT
(BODY
& ACTIONS
IN CASE OF NON
- COMPLIANCE
)
Expenditure rule
Nominal expenditure ceiling Budgetary accounting
Central government
Multiannual (5 years)
Legal act
Governmental structure
Ministry of Finance No pre-defined action
Budget balance rule
Budget balance nominal terms ESA95 accounting
Local government
Annual
Political agreement
Ministry of finance and governmental structure
Government Limits imposed on borrowing of local authorities
ITALY
Expenditure rule
Nominal expenditure ceiling ESA95 accounting
Central and regional government
Annual
Legal act and internal pact between central and regional government
Government (Ministry of Finance) and governmental structure (Italian Pharmaceutical Agency-Ministry of Health)
Governmental structure Corrective actions
Expenditure rule
Nominal expenditure growth rate Targets set in ESA95 (monitoring based on budgetary accounting)
Regional and local government
Multiannual (3 years)
Legal act
Government (Ministry of Finance)
Independent Automatic sanction mechanism
Budget balance rule
Budget balance in nominal terms Targets in ESA95 accounting
Regional government
Multiannual (3 years)
Legal act
Board of Performance Assessors (with central and regional government representatives)
Government Automatic correction mechanism and possibility of financial sanctions
Budget balance rule
Budget balance in nominal terms (excl. capital revenue and expenditure) Budgetary accounting
Local government
Multiannual
Constitution and legal act
Independent (Court of Auditors), Government (Ministry of Finance).
Government (Ministry of Finance) No pre-defined action
LATVIA
Revenue rule
Actual revenues must cover completely the special government budget Budgetary accounting
Central government, social security
Annual
Legal act
Government (Ministry of Finance) and governmental structure (The State Treasury)
Governmental structure (The State Treasury) No pre-defined action
Debt rule
Debt ceiling in nominal terms Budgetary accounting
Local government
Annual
Political agreement
Independent
Government (Ministry of Finance) No pre-defined action
LITHUANIA
Debt rule
Maximum possible net borrowing by the central government Budgetary accounting
Central government
Annual
Legal act
Independent
Government (Ministry of Finance) No pre-defined action
Budget balance rule
Budget balance in nominal terms Budgetary accounting
Local government
Annual
Legal act
Governmental structure (Council of Municipality)
Government and National Parliament Possibility of sanctions and of clam to the Courtii
LUXEMBOURG
Expenditure rule
Over the medium-term, nominal expenditure increase in line with nominal GDP Budgetary accounting
Central government
Multiannual
Coalition agreement
None
None No pre-defined action
Debt rule
The debt-to-GDP ratio should remain moderate (new debt only to finance rail infrastructure projects) Budgetary accounting
Central government
Multiannual
Coalition agreement
None
None No pre-defined action
Budget balance rule
Reserve funds for health care, long-term health care and pension private sector schemes Budgetary accounting
Social security
Annual and Multiannual
Legal act
Government (Ministry of Social Security)
Governmental structure Corrective measures
NETHERLANDS
Expenditure rule
Real expenditure ceiling ESA95 accounting
General government
Multiannual (4 years)
Coalition agreement
Government (Ministry of Finance)
Government (Ministry of Finance) proposes corrective measures
Revenue rule
Allocation of higher-than-expected revenues ESA95 accounting
General government
Multiannual (4 years)
Coalition agreement
Government (Ministry of Finance)
Government (Ministry
ance) proposes corrective measures
POLAND
Debt rule
Ceiling in terms of debt/GDP ratio Budgetary accounting
General government
Annual
Constitution and legal act
Independent (Supreme Audit Office) and National Parliament
Government, Independent body (Supreme Audit Office) and national Parliament Government proposes corrective measures.