About the Council

The Fiscal Council is composed of six members. The Chair, the Vice-Chair and four members are appointed for a five-year term by the Supervisory Board of Eesti Pank on the proposal of the Governor of Eesti Pank. Members of the Fiscal Council must have unblemished reputations, at least a Master’s degree in economics, and the professional experience required for the performance of their duties.

The Fiscal Council forms its opinions at meetings held as necessary, but at least five times per year. The activities of the Fiscal Council are supported by a secretariat based at Eesti Pank.

Established in 2014, the Fiscal Council operates under the Estonian State Budget Act, and its operating procedures are specified in its statutes. The establishment of a fiscal council is mandatory for all European Union member states.

As of spring 2024, the Fiscal Council has operated in the following composition: Chair Peter Lõhmus, Vice-Chair Viljar Arakas, and members Karin Jõeveer, Ülo Kaasik, Robert Kitt and Martti Randveer