Communication on the 2022 Draft Budgetary Plans: Overall Assessment

Summary:

Communication published by the European Commission on 24 November 2021, summarising the assessment of the 2022 Draft Budgetary Plans (DBPs) submitted by Eurozone Member States as required by Regulation (EU) No 473/2013. It was published as part of the Autumn Package of the 2022 European Semester.

Further information:

The European Commission's assessment takes into account the economic recovery from the COVID-19 (coronavirus) crisis and the continued application of the general escape clause of the Stability and Growth Pact (SGP) in 2022, while it is expected to be deactivated as of 2023. The assessment is also based on the fiscal policy recommendations adopted in June 2021.

For 2022, Member States with low or medium debt should pursue or maintain a supportive fiscal stance, while Member States with high debt should use the Recovery and Resilience Facility (RRF) to finance additional investment in support of the recovery, while pursuing a prudent fiscal policy. All Member States should preserve nationally financed investment. With a view to maximising support to the recovery without pre-empting future fiscal trajectories and creating a permanent burden on public finances, the growth of nationally financed current expenditure should be kept under control, and be limited by Member States with high debt.

The Communication was published as part of the Autumn Package of the 2022 European Semester.

Official

European Commission: European Semester: Draft budgetary plans 2022 https://ec.europa.eu/info/business-economy-euro/economic-and-fiscal-policy-coordination/eu-economic-governance-monitoring-prevention-correction/stability-and-growth-pact/annual-draft-budgetary-plans-dbps-euro-area-countries/draft-budgetary-plans-2022_en

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