The framework of economic and financial governance laws was revised

According to Amac News: The European Council said yesterday (Monday, April 29) that the main goal of these reforms is to ensure healthy public finances, promote sustainable and inclusive growth in all member countries through reforms and investments.
According to the Council's announcement, the new law improves the existing framework and provides effective rules for all EU countries.
Belgian Deputy Prime Minister and Minister of Finance Vincent Van Peteghem said that the overall goal of the reforms is to reduce the ratio of debts and deficits in a gradual manner and protect reforms and investments in strategic areas.
According to the new rules, all member states are required to prepare a national medium-term financial structural plan.
The new rules encourage structural reforms and public investments that increase sustainability and growth.
According to the Council of Europe, member states are allowed to carry out reforms and investments for growth, support financial stability and pay attention to the common priorities of the European Union, and they can request the extension of this plan for a maximum of seven years.
In the interim, the commission may consider increased interest payments in 2025, 2026 and 2027 when setting the proposed amounts, the council said.
The Council of Europe has emphasized that the fine in case of non-compliance will be a maximum of 0.05% of GDP and will accumulate every six months until the relevant member state takes effective action.