Communication replacing the Communication on harmonized framework for draft budgetary plans and debt issuance reports within the euro area [COM(2013)490]

Regulation (EU) No 473/2013 of the European Parliament and of the Council on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area (OJ L140, 27.5.2013) entered into force on 30 May 2013. It builds on and complements within the euro area (EA) the Stability and Growth Pact (SGP), the European framework for fiscal surveillance. This Regulation takes a concrete and decisive step towards strengthening the surveillance mechanisms applicable to all EA Member States.

The new fiscal surveillance features for EA Member States stemming from Regulation (EU) No 473/2013 mean increased transparency on their budgetary decisions and stronger budgetary coordination between them since the 2014 budgetary cycle. The harmonised frameworks for the draft budgetary plans and for the debt issuance reports, as adopted by the Commission in Communication COM(2013)490 final and contained in a Code of Conduct, set out all commonly agreed guidelines. The experience built since the implementation of Regulation (EU) No 473/2013 in May 2013 has proven that some elements of the reporting process deserve additional clarity and require modification, as laid down in this Communication.

• Primary Source

EUR-Lex: COM(2014)675: Follow the progress of this communication through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2014:675:FIN

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