Greece is one of the eight EU countries whose 2025 budget was approved without any reservations by the European Commission. This was certified at the Eurogroup meeting in Brussels, in the presence of the National Economy and Finance Μinister, Kostis Hatzidakis.
The Greek Minister stated: “The European Commission’s approval of the Greek budget without reservations certifies the credibility of our policy. However, it is also a success for all Greeks. Of course, all issues have not been resolved. And there are serious social problems to be addressed. However, it is particularly important for Greece that we proceed with tax cuts, wage increases and spending increases on critical national and social priorities, while even large European countries are increasing taxes and implementing austerity policies in order to cope with the new fiscal rules. We are not complacent, we do not underestimate the economic and social problems, but it would be a big mistake to underestimate a collective national success in the fiscal and growth field.”
The European Commission also presented its assessment of the fiscal policies of the member states in the context of the implementation of new economic governance rules.
Greece is one of the 20 countries for which the Commission is recommending the adoption of the Medium-Term Plan and one of the eight countries whose 2025 Draft Budgets are considered to be fully compliant with the fiscal recommendations and the expenditure ceilings. In particular:
• 22 national Medium-Term Plans have been submitted, of which 20 are considered to meet the requirements of the new framework and set a credible fiscal path. Five Member States (Belgium, Bulgaria, Austria, Germany, Lithuania) have not yet submitted Medium-Term Plans.
• 17 Preliminary Draft Budgets for 2025 have also been submitted by euro area Member States (Austria, Belgium and Spain did not submit plans) of which 8 are considered to be fully aligned with the fiscal recommendations, while seven are not fully aligned, one is not aligned and one may not be aligned.
