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This article has been translated by Artificial Intelligence (AI). The news agency is not responsible for the content of the translated article. The original was published by Belga.

Brussels – With these figures, Belgium is well above the Maastricht criteria, which ask EU countries to limit their deficit to 3 percent of GDP and their debt ratio to 60 percent. After several years of a more flexible application of the rules, the Commission, based on new rules, wants to start enforcing the standards again. The report by member state is expected on June 19, focusing on the countries that violated the three percent standard in 2023 – such as Belgium.

Next month it will not only become clear whether the Commission will start a procedure against our country, but it will also make recommendations to the member states for a new multi-year budget that needs to get the budget in order over a period of four to seven years. By no later than September 20, the member states must present their budget plans, including attention to priority reforms and investments.

According to the European Commissioner for Economic Affairs Paolo Gentiloni, the EU is facing a “hot budget summer.” He admitted that after the European elections, a transition period for the EU institutions is also coming, but that the budget rules will be complied with, albeit “with the necessary flexibility.”