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Draft budgetary plans of euro area Member States

To ensure the coordination of fiscal policies among Member States sharing the euro as their currency and because economic policy is recognised by the EU Treaty as 'a matter of common concern', governments are required by European economic governance rules to submit their draft budgetary plans for the following year to the Commission by October 15.

These draft programmes are made public by the Commission in accordance with EU Regulation No 473/2013.

Draft budgetary plans 2015

Cyprus and Greece do not need to submit draft budgetary plans because they are currently subject to macroeconomic adjustment programmes.

Commission assessments

The Commission provides two assessments:

  1. an opinion on each Member State's plan and
  2. an overall assessment of the budgetary situation and prospects of the euro area as a whole.

The opinion on the draft budgetary plan of each euro area Member State is based on the requirements of the Stability and Growth Pact (SGP). For Member States under the preventive arm of the Pact, it considers the extent to which Member States have implemented the Country-Specific Recommendations (CSRs) made for them by the Commission under the European Semester; and in particular their compliance with  Medium-Term Objectives (MTO) or the adjustment path towards the MTO.

For Member States subject to the Excessive Deficit Procedure (EDP), compliance with the EDP recommendation is a central aspect of the assessment.

If the Commission finds that a Member State’s draft budgetary plan is in particularly serious non-compliance with its SGP obligations, it can ask for a revised draft to be submitted.

This exercise complements, for euro area Member States, the assessment of stability programmes and convergence programmes that takes place each Spring, but is focused on providing concrete ex ante guidance for the budget of the year ahead, rather than on medium-term fiscal plans.

Background information

Draft budgetary plans 2014

In order to avoid a multiplying of reporting requirements, Regulation 473/2013 explicitly makes exception for Member States subject to a macroeconomic adjustment programme. Therefore, Cyprus, Greece, Ireland and Portugal did not have to present a draft budgetary plan, as the surveillance takes place in the context of their programme.

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