CZECH REPUBLIC, March 30 - The budgetary process within the European Union is under increasing scrutiny in terms of efficiency and public control. One of the key legal acts in this area is the Council Directive 2011/85/EU of 8 November 2011 on requirements for budgetary frameworks of the Member States. Among other things, it calls for an independent evaluation of macroeconomic forecasts which are utilized for budgetary and fiscal planning.

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