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Excessive deficit procedures

06.07.2010 - Bulgaria: Next steps under the EDP procedure UK: Commission concludes UK took effective action

Bulgaria

Based on the data notified by the Bulgarian authorities in April 2010 and subsequently validated by Eurostat, namely a general government deficit of 3.9% of GDP in 2009, the Commission decided to initiate an excessive deficit procedure for Bulgaria with the adoption of a report under Article 126(3) of the Treaty. The report concluded that while the government gross debt at 14.8% of GDP in 2009 fulfils the respective criterion in the Treaty, the requirement on the deficit criterion was not fulfilled because the deficit in 2009 was not close to the reference value of 3% of GDP.

UK

The European Commission today assessed the action taken by the United Kingdom in response to the Council recommendations of 2 December 2009 relating to the correction of the excessive government deficit. The Commission concluded that the authorities have acted in accordance with the recommendations.

Documents

>> Press release IP/10/896 Bulgaria: Next steps under the EDP procedure Choose translations of the previous link 
>> Press release IP/10/903 Commission concludes UK took effective action in excessive deficit procedure Choose translations of the previous link 
>> Excessive deficit procedure. Bulgaria
>> Excessive deficit procedure. UK
>> Excessive deficit procedure. Index

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