FISCAL COMPLIANCE OBSERVATORY

Download FISCO

Latest release: v1.2.0 — 1 October 2026.

Blank template

The full FISCO model with all formulas and macros wired, but no country data populated. Import your own outturn and plan inputs to assess compliance for your Member State.

Download template (.xlsm)

Macros must be enabled.

A start to finish example, including the new defence and energy expenditure exemptions. It uses Latvia's data, but the same steps apply to the blank template.

Watch tutorial →

Worked examples

FISCO populated with real data for two member states. Useful for learning how the model is structured, and for cross-checking your own results against a known baseline.

Greece

Populated with Greece's outturn data, Medium-Term Fiscal-Structural Plan inputs, and Annual Progress Report 2026.

Download model (.xlsm)

Test scenarios

Drop into the model via the Import Plan macro to explore alternative trajectories.

Latvia

Populated with Latvia's outturn data, Medium-Term Fiscal-Structural Plan inputs, and Annual Progress Report 2026.

Download model (.xlsm)

Test scenarios

Drop into the model via the Import Plan macro to explore alternative trajectories.

Supplementary FISCO extension for Latvia

This extension of the tool was developed following completion of the commissioned work and incorporates a number of evolving policy developments that were not foreseen in the original project scope, such as:

  • The EU's energy expenditure escape-clause methodology.
  • Updates to the treatment and presentation of the control account, including the “Correction for breaks in time series” and the Commission’s presentation of the defence expenditure adjustment as published in the Spring package of the 2026 European Semester.

It also includes Latvia’s request for inclusion of their domestic structural balance rule and a generalisable expenditure exemption framework to accommodate future policy developments.

Accordingly, it should be regarded as a supplementary analytical tool that has not been subject to the same level of review and validation as the core model.

Download extension (.xlsm)

Macros must be enabled.

A start to finish example using the extension, including the new defence and energy expenditure exemptions.

Watch tutorial →

If macros are blocked when you open the file

Since 2022, Microsoft blocks macros by default in any Office file downloaded from the internet. You'll see a red banner reading "BLOCKED — Macros from the internet are blocked" with no enable button. This is a generic Microsoft default and is not specific to FISCO.

To enable macros in Excel, go to File > Options > Trust Center > Trust Center Settings > Macro Settings, and select "Enable VBA macros".

If your organisation's IT policy still blocks macros after unblocking, ask your IT team to add the file's folder as an Excel Trusted Location. We are exploring options for digitally signing the macros, which will allow IT to permit them via a trusted-publisher policy across your organisation.

Using a test scenario

  1. Download the country model (or your own copy of the template).
  2. Download a scenario file from the same country.
  3. Open the model in Excel, with macros enabled.
  4. Run the Import Plan macro and point it at the scenario file. The scenario inputs will populate the relevant cells, leaving the rest of the model untouched.
  5. Inspect the assessment outputs to see how that scenario fares against the rule.

System requirements

Mac compatibility

An Excel-for-Mac entry point is provided via the EurostatUpdateMac macro. Some elements of the workflow are still Windows-first; full parity is in progress.

Older versions

Previous releases are listed in the changelog.