Most recent decisions and updates

  • Further to the Commission recommendation of 23 May, on 22 June 2018 the Council closed the excessive deficit procedure for France.
  • On 23 May 2018, the Commission adopted reports for Belgium and Italy under Article 126 (3) of the Treaty on the Functioning of the European Union (TFEU), in which it reviews their compliance with the debt criterion of the Treaty. In both cases, the conclusion is that the debt criterion should be considered as currently complied with. The Commission will reassess the two countries’ compliance with the preventive arm this year on the basis of the ex-post data for 2018, to be notified in Spring 2019. 
  • On 23 May 2018, the Commission addressed a warning to Hungary and Romania on the existence of a significant deviation from the adjustment path toward the medium-term budgetary objective (MTO) in 2017. The Commission proposes that the Council adopt a recommendation for Hungary to take appropriate measures in 2018 with a view to correcting this significant deviation. For Romania, which is already subject to a significant deviation procedure, the Commission recommends that the Council issue a decision on non-effective action and a recommendation to take measures in 2018 and 2019 to correct the significant deviation.
  • The Commission issued an opinion on the updated Draft Budgetary Plan (DBP) for Spain (23 May 2018), as the Plan submitted in October 2017 was based on a “no policy change” scenario. The Commission considers the updated Draft Budgetary Plan is broadly compliant with the requirements under the Stability and Growth Pact, since the Commission’s Spring 2018 Economic Forecast projects that Spain’s headline deficit will be below the Treaty reference value of 3% of GDP in 2018. Nonetheless, the opinion notes that neither the headline deficit target nor the fiscal effort called for in the 2016 Council notice are projected to be met this year.

Overview of ongoing and closed excessive deficit procedures

Overview of ongoing excessive deficit procedures

Country

Date of the Commission report
(Art.104.3/126.3)

Council Decision on existence of excessive deficit (Art.104.6/126.6)

Current deadline for correction

France

18 February 2009

27 April 2009

2017

Spain

18 February 2009

27 April 2009

2018

Overview of closed excessive deficit procedures

Austria

Belgium

Bulgaria

Croatia

Czech Republic

Cyprus

Denmark

Finland

Germany

Greece

Hungary

Ireland

Italy

Latvia

Lithuania

Luxembourg

Malta

The Netherlands

Poland

Portugal

Romania Slovakia Slovenia United Kingdom

No excessive deficit procedures

Estonia

Sweden