OREANDA-NEWS. March 25, 2014. At the first regular meeting of the Eesti Pank Supervisory Board in its new composition on Tuesday, the creation of the Estonian fiscal council to be set up at Eesti Pank was discussed.

The fiscal council is an advisory body that will assess the economic forecasts that serve as a base for Estonian fiscal policy and ensure that the budgetary rules are followed.

Eesti Pank Governor Ardo Hansson gave board members the regular review of the state of the economy in the euro area.

Members of the Executive Board showed the Supervisory Board the Eesti Pank strategy for 2014-2018. Discussions with the Supervisory Board will continue in seminar form and then the Executive Board will confirm the strategy, which will be published on the website of the central bank.

The next meeting of the Eesti Pank Supervisory Board will be on 8 April.