He Ministry of Economy and Finance (MEF) established changes for the organization and operation of the Fiscal Council, an autonomous and technical commission of the public sector that strengthens the transparency and institutionality of public finances.
Through Supreme Decree No. 037-2023-EF, the Peruvian Government provides that the Fiscal Council be made up of five members (previously it was “no less than three”) appointed by supreme resolution, with the endorsement of the MEF. The Fiscal Council elects the person who assumes the functions of president from among its members, in accordance with the provisions of the Internal Regulations.
In the same way, the MEF defines that the work program of the Fiscal Council (which includes the development of studies or projections, directly or through third parties, that it considers useful for the fulfillment of its functions) must be published on its digital headquarters within of the first quarter of each year.
“For purposes of transparency, the Fiscal Council publishes, within the first semester of each year, a balance of its annual work program for the previous year and periodically performs self-evaluations and external evaluations of its opinions,” the document states.
Regarding the appointment of the members, the Fiscal Council will propose to the MEF, after Council Agreement, a shortlist of candidates for each member that must be replaced to integrate the Fiscal Council. This, prior evaluation of compliance with each of the requirements established in current regulations.
It should be noted that the MEF “has the power to submit for reconsideration what is proposed by the Fiscal Council”, in which case the Fiscal Council sends an alternate list with three different candidates, until it finds the selected applicant.
Finally, the Technical Secretariat of the Fiscal Council must publish, for a matter of transparency, the minute books and agreements of this working group in the digital headquarters, within a maximum period of 30 calendar days after the end of the session.
“Including the summary of the debate, the interventions on the issues discussed and the information presented in each session, with the exception of that protected by express regulation or documentation that does not have the quality of the final product,” the decree states.
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