The new rules of the EU economic management framework have entered into force – European Union

On Monday, April 29, the Council of the European Union (EU) approved two regulations and one directive that form the basis of the new EU economic governance framework. On the other hand, on Tuesday, April 30, the legal acts have been published in the Official Journal of the EU and have entered into force. The rules of the EU’s economic governance framework determine how EU member states make their fiscal policies, including how much general government deficit and debt EU members can afford.

The new EU Economic Governance Framework rules regulate a wide range of issues, such as what EU member states must include in their Fiscal Structural Plans and how the Excessive Budget Procedure is initiated. However, the most important issues for society, which affect everyone, often depend on how much available fiscal space is available, or how much money is available to finance new public spending. How the fiscal space is determined depends directly on both the new EU economic governance framework rules and the current Fiscal Discipline Law.

See the full news on the website of the Ministry of Finance: https://www.fm.gov.lv/lv/jaunums/stajesius-speka-jaunie-es-ekonomikas-parvaldibas-ietvara-noteikumi

Ministry of Finance