EU lawmakers approve overhaul of budget rules
EU lawmakers approve overhaul of budget rules
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EU lawmakers approve overhaul of budget rules – DW – 04/23/2024
Brussels has spent two years negotiating reforms. which aim to boost investment while controlling member states' debt. Previous budgetary regulations were suspended over the COVID-19 pandemic and the ...
The new rules stipulate that a state's debt must not go beyond 60% of GDP and its public deficit must stay below 3%
Countries with debt at over 90% of GDP will be required to reduce it by 1% per year on average and by 0.5% when it is between 60 and 90%.