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THE CALENDAR OF THE ISSUANCE OF OPINIONS
BY THE BUDGET POLICY CONTROL INSTITUTION

I quarter

JANUARY FEBRUARY MARCH
    Coordination of the draft of economic development scenario between BPCI and MoF takes place until 18th of March.
MoF issues an economic development scenario by 20th of March and publishes it.
BPCI within 7 working days as of date of publication of the economic development scenario by the Government or its authorised institution, issues an opinion on its endorsement.

II quarter

APRIL MAY JUNE
  The Government by 15th of May submits to the Seimas a report on the fulfilment of the structural impetus target for the previous year and on the structural general government balance indicator for the previous year.
BPCI within 30 working days after the Government submits to the Seimas this report issues an opinion on the validity of reasons for non-fulfilment of the structural impetus target for the previous year and the eligibility of measures for fulfilment of this target.
By 30th of June structural impetus targets for the current and subsequent year as well as their guidelines for the remaining years of the medium term shall be set by the Seimas by adopting a legal act1.
BPCI within 15 working days after the Government submits the proposal on the structural impetus targets and the guidelines on measures to fulfil these targets, issues an opinion on the compliance of the structural impetus targets and the guidelines on measures to fulfil these targets proposed by the Government to the Seimas for approval with the requirements for the medium-term target achievement deadline established in the Republic of Lithuania Constitutional Law on the Implementation of the Fiscal Treaty.

III quarter

JULY AUGUST SEPTEMBER
    Coordination of the draft of updated economic development scenario between BPCI and MoF takes place until 9th of March. MoF issues an updated economic development scenario by 11th of September.
BPCI within 7 working days as of date of publication of the updated economic development scenario by the Government or its authorised institution issues an opinion on its endorsement.

IV quarterr

OCTOBER NOVEMBER DECEMBER
By 15th of October a draft budgetary plan for next year will be submitted to the European Commission and made public.

Each time after the Government submits to the Seimas the Draft Law on the Approval of Financial Indicators of the State Budget and Municipal Budgets for the Year Concerned of the Republic of Lithuania (an Amendment to it), BPCI within 20 working days issues an opinion on the structural impetus target set by the Draft Law on the Approval of Financial Indicators of the State Budget and Municipal Budgets for the Year Concerned of the Republic of Lithuania and on the need for additional measures (in monetary terms) to fulfil this target2.
Not later than by 30th of November Commission issues an opinion on the draft budgetary plan of Lithuania.. The Seimas has to adopt the Law on Budget not later than 14 calendar days until the beginning of the budgetary year.

The establishment and cancellation of exceptional circumstances shall be initiated by the Government or its authorised institution by preparing a notice on exceptional circumstances and submitting it to the BPCI for its approval along with the updated economic development scenario. Exceptional circumstances shall be considered to be established or cancelled, when the BPCI within 7 working days as of the date of publication of the economic development scenario by the Government or its authorised institution issues its opinion on the compliance of the emerged or envisaged situation with the definition of exceptional circumstances in accordance with the provisions of Council Regulation (EC) No. 1466/97 and presents its conclusion on the approval of the economic development scenario.

During the period of exceptional circumstances the Government or its authorised institution shall at least once per quarter publish the economic development scenario, and the Control Institution shall submit to the Seimas its opinion on the approval of the economic development scenario.


1. But not later than before the adoption of the Law on Approval of Financial Indicators of the State Budget and Municipal Budgets for the Year Planned or the adoption of the Law Amending the Law on Approval of Financial Indicators of the State Budget and Municipal Budgets for the current year.

2. This opinion is issued as many times as there are draft budget laws or amendments to it submitted to the Seimas.

 

National Audit Office of the Republic of Lithuania

Pamėnkalnio str. 27, LT-01113 Vilnius Tel. (370-5)266 67 58, 266 67 08, fax. (370-5)266 67 61, 266 67 08, E-mail nao@vkontrole.lt.