Brussels – Austria and Romania are highlighted in the EU Commission’s annual economic reports as facing significant challenges.
The spring package released on Wednesday recommends initiating an excessive deficit procedure (EDP) for Austria, aiming to prompt the country to tackle its budget deficit. Romania, already under scrutiny, has been warned of a clear risk of not addressing its deficit by 2030.
Meanwhile, the EU Commission has granted permission to 16 EU nations to temporarily bypass normal deficit regulations to enhance their defense investments. This exception is part of a broader defense initiative announced earlier this spring. Notably, Sweden is among the 11 countries that have opted against seeking such exemptions.
In a press release, Economic Commissioner Valdis Dombrovskis emphasized that the focus of this year’s spring package can be distilled into two key themes: competitiveness and security, which align with the core objectives of the EU project—peace and prosperity.
(June 4)
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