The proposed body, which would report to parliament, is intended to further align Albania’s fiscal framework with European Union standards, Malaj added.

Although Albania is regarded as one of the region’s leading countries in budget transparency, the creation of the Fiscal Council would mark another important step toward strengthening fiscal discipline, enhancing transparency and safeguarding the long-term sustainability of public finances, he added.

Under the draft law, the Fiscal Council would operate as an independent public institution mandated to provide professional analysis and assessments of the country’s fiscal and budgetary policies.

According to the proposal, the council is expected to help strengthen fiscal discipline, increase transparency in the budget process, support the sustainability of public finances, advance compliance with EU requirements and promote the adoption of international best practices in fiscal governance.

Its core responsibilities would include reviewing budget projections, assessing macroeconomic forecasts, evaluating fiscal policy and monitoring compliance with fiscal rules.

“The establishment of this institution will contribute to improving the credibility and quality of fiscal policymaking by strengthening independent oversight of public finances and supporting economic decision-making in line with European standards,” Malaj said.

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