The rules that limit the deficit and debt of European countries will remain frozen for at least one more year. This will be proposed by the European Commission next Monday due to the consequences of the war in Ukraine.
The covid-19 pandemic allowed the deficit regulations (which oblige countries not to exceed 3%) and debt regulations (which cannot exceed 60%) to be relaxed with a clause that gave countries air . However, the consequences derived from the war in Ukraine, in which many countries are seeing how inflation does not stop increasing and can cause a reduction in GDP, have made Brussels decide to give it another margin.
As the British newspaper Financial Times has advanced, and La Vanguardia has been able to confirm, there is “a consensus” so that the measure can be approved, and it can be formally proposed next week, coinciding with the meeting of finance ministers.
It is expected that the economy ministers will be able to approve it, and although there has been an intense debate in recent months, the latest economic forecasts have also shown that flexibility is needed for countries, and avoid mistakes of the past, such as austerity.
4
