|Author (Corporate)||European Commission|
|Series Details||COM (2018) 807|
On 21 November 2018 the European Commission presented a communication on the 2019 draft budgetary plans submitted by euro-area member states. In line with Regulation (EU) No 473/2013, the Commission has assessed those plans and the overall budgetary situation and fiscal stance in the euro area as a whole.
EU legislation requires that euro-area member states submit draft budgetary plans for the following year to the Commission by 15 October, with the aim of improving coordination of national fiscal policies in the Economic and Monetary Union. Those plans summarise the draft budgets that governments submit to national parliaments.
On each plan, the Commission provides an opinion, assessing whether it is compliant with the member state's obligations under the Stability and Growth Pact. The Commission is also required to provide an overall assessment of the budgetary situation and prospects for the euro area as a whole.
While respecting member states' budgetary competence, the Commission's opinions provide objective policy advice, in particular for national governments and parliaments, to facilitate the assessment of the draft budgets' compliance with Union fiscal rules. Regulation (EU) No 473/2013 provides for a comprehensive toolbox to treat economic and budgetary policy as a matter of common concern within the euro area.
This Communication was presented as part of the 2019 European Semester Autumn Package.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Economic Governance | Situation, European Semester, National Budgets|
|International Organisations||European Union [EU]|