Inna Šteinbuka takes over at Fiscal Discipline Council

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On Tuesday, December 17, the Fiscal Discipline Council (FDP) elected Inna Šteinbuka to serve as its chair for the next three years, the Council has announced

Until recently Šteinbuka, a former head of the European Commission's office in Latvia, was in the running to become governor of the Latvian central bank, but was beaten to the job by another member of the FDP, economist Mārtiņš Kazāks.

Former FDP Head Janis Platais, who chaired the Council since its inception in 2014, is leaving this post because, under the Fiscal Discipline Act, the same person cannot hold the office for more than six consecutive years.

"While appreciating what has been done, I would like to see the Fiscal Discipline Council not as an outspoken critic of government decisions on the budget, but as a constructive partner for the government which expresses its independent opinion, engages in dialogue and whose recommendations are listened to," Steinbuka said on taking up the role.

She also said she wants to establish closer cooperation between the Council and the Bank of Latvia as the Council continues in its role to monitor annual budget planning, study the fiscal impact of potential tax changes and update Latvia's fiscal sustainability report, which looks at 20-year government debt developments, demographic trends and their implications for fiscal policy. The Council started its operations on 1 January 2014.

Inna Šteinbuka is a professor at the University of Latvia, director of the European Studies and Economic Diplomacy Master's program. Since October 2018, she has been an advisor to European Commission Vice President Valdis Dombrovskis. Between 2011 and 2018 she headed the European Commission Representation in Latvia. She has been with the European Commission since 2005 and has been Director of the Economic and Regional Statistics Division of the European Union Statistical Office and the Department of Social and Information Society Statistics.

Previously, she headed the Latvian Public Utilities Commission, served as a Senior Advisor to the Director of the International Monetary Fund in the Nordic and Baltic Countries in Washington, and held various positions in the Ministry of Finance of Latvia.

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