The European Commission has endorsed a positive assessment of Greece’s draft budget for 2025 and its medium-term fiscal plan, in accordance with the European Semester autumn package – the first under the new economic governance framework.
According to the announcement by the Ministry of Finance, presenting the assessment of the budgets, Economy Commissioner Paolo Gentiloni said that out of the 20 eurozone member states, 17 draft budgets for 2025 were submitted (Austria, Belgium and Spain did not submit).
Of these, eight countries: Greece, Cyprus, Croatia, France, Italy, Latvia, Slovenia and Slovakia, are considered to be in compliance with the fiscal recommendations, as the increase in net expenditure is within the limits.
On the other hand, according to the Commission, the draft budgets of seven countries: Estonia, Germany, Finland and Ireland, are not fully compliant with the budgetary recommendations, as net expenditure increases are recorded, which exceeded the limits.
Luxembourg, Malta and Portugal are not phasing out energy measures by winter 2024-2025. The Netherlands is not compliant with the budgetary recommendations, as net expenditure is projected above the threshold, while Lithuania’s draft budget, submitted by the previous government, is at risk of being non-compliant with the recommendations, as net expenditure exceeds the limits.
