1. Member States shall ensure that independent fiscal institutions are established by national laws, regulations or binding administrative provisions.

2. Member States may establish more than one independent fiscal institution.

3. Independent fiscal institutions shall be composed of members nominated and appointed on the basis of their experience and competence in public finances, macroeconomics or budgetary management, and by means of transparent procedures.

4. Independent fiscal institutions shall:

not take instructions from the budgetary authorities of the Member State concerned or from any other public or private body;

have the capacity to communicate publicly about their assessments and opinions in a timely manner;

have adequate and stable resources to carry out their tasks in an effective manner, including any type of analysis within their tasks;

have adequate and timely access to the information needed to fulfil their tasks;

be subject to regular external evaluations by independent evaluators.

5. Without prejudice to the tasks and functions attributed in accordance with Regulation (EU) No 473/2013 for Member States whose currency is the euro, all Member States shall ensure that the following tasks are undertaken by one of the independent fiscal institutions:

producing, assessing or endorsing annual and multiannual macroeconomic forecasts;

monitoring compliance with country-specific numerical fiscal rules unless performed by other bodies in accordance with Article 6;

undertaking tasks in accordance with Articles 11, 15(3) and 23 of Regulation (EU) 2024/1263 and Article 3(5) of Council Regulation (EC) No 1467/97 ( *3 ) ;

assessing the consistency, coherence and effectiveness of the national budgetary framework;

upon invitation, participate in regular hearings and discussions at the national Parliament.

6. Independent fiscal institutions shall issue assessments in the context of the tasks referred to in point (a), (b), (c) or (d) of paragraph 5 of this Article without prejudice to the tasks and functions attributed in accordance with Regulation (EU) No 473/2013. Member States shall comply with those assessments or shall explain why they are not following them. That explanation shall be public and be presented within two months from the date of issuance of such assessments.

( *3 ) Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure ( OJ L 209, 2.8.1997, p. 6 ).’;"

Article 9 is amended as follows:

paragraph 1 is replaced by the following:

‘1. Member States shall establish a credible, effective national medium-term budgetary framework providing for the adoption of a fiscal planning horizon of at least three years to ensure that national fiscal planning follows a multiannual fiscal planning perspective.’;

paragraph 2 is amended as follows:

the introductory wording is replaced by the following:

‘2. National medium-term budgetary frameworks shall include procedures for establishing the following items:’;

point (a) is replaced by the following:

comprehensive and transparent national budgetary objectives over the medium term as referred to in point (e) of the second paragraph of Article 2 of this Directive in terms of the general government deficit, debt and any other fiscal indicator such as expenditure, ensuring that they are consistent with any country-specific numerical fiscal rules as provided for in Chapter IV of this Directive and the relevant provisions of Regulation (EU) 2024/1263;’;

points (c) and (d) are replaced by the following:

a description of medium-term policies, including reforms and investment, envisaged with an impact on general government finances and sustainable and inclusive growth, broken down by major revenue and expenditure item, showing how the adjustment towards the national budgetary objectives over the medium term as referred to in point (e) of the second paragraph of Article 2 is achieved compared to projections under unchanged policies;

an assessment as to how, in the light of their direct medium-term and long-term impact on general government finances, the policies envisaged are likely to affect the medium-term and long-term sustainability of the public finances and sustainable and inclusive growth. To the extent possible, the assessment shall take into account the macrofiscal risks from climate change and its environmental and distributional impacts.’;

paragraph 3 is deleted;

Articles 10 and 11 are replaced by the following:

COUNCIL DIRECTIVE (EU) 2024/1265 of 29 April 2024 amending Directive 2011/85/EU on requirements for budgetary frameworks of the Member States