Economic Dialogue with the European Commission on EU Fiscal Surveillance

Summary:

Executive Vice-President Dombrovskis and Commissioner Gentiloni have been invited to an Economic Dialogue on the fiscal part of the 2022 European Semester autumn package adopted by the Commission in November 2021. The fiscal elements of the package include the Commission Opinions on euro area 2022 Draft Budgetary Plans, the fiscal policy recommendation for the euro area and some elements of the 2022 Alert Mechanism Report. In March 2020, the general escape clause of the Stability and Growth Pact was activated and the Commission and the Council are expected to de-activate it as of 2023.

This briefing addresses the following subjects: (1) Economic situation; (2) Surveillance of national fiscal policies; (3) Surveillance of macroeconomic imbalances(fiscal aspects); (4) Implementation of the Recovery and Resilience Facility; and (5) Review of the EU economic governance framework.

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