September deadline for four-year plans
September 20 will most likely be the day on which the member-states of the European Union will submit their first four-year budgetary-structural plans, based on the rules of the new Stability Pact.
It will have been preceded, probably in June, by the determination of the fiscal path - that is the objectives regarding the upper limit of the increase of net primary expenses in the same four-year period - for each member-state by the European Commission.
The new rules were agreed just two weeks ago between the Council and the European Parliament and will apply from 2025, so the four-year programs will cover the period 2025-2028. They will concern both the fiscal goals and the reforms that serve them, since the new approach of the pact is more holistic, but also more flexible, compared to the current one, which was suspended due to the pandemic in 2020 with a general...
- Log in to post comments