The European Commission warned today that public spending in countries like Spain, Hungary, Malta, and the Netherlands is drifting away from the agreed fiscal paths and risks falling into non-compliance with EU budget rules.
Under the current fiscal framework, EU governments must keep their budget deficits below 3% of GDP and public debt under 60% of GDP. The Commission must assess not only each country’s budget for next year, but also whether their longer-term deficit plans are credible.
