On Wednesday, November the 20th, 2019 the European Commission published its standpoint regarding the draft budgetary plans of the EU-countries and asked highly indebted countries to lead a cautios financial policy.
The first time after the year 2002 none of the 19 EU countries found itself in the excessive deficit procedure. Following the trend of the previous years the indebted quota in the European area should decline also in 2020 and should decrease to about 85% of the GDP.
From the opinion of the Commission it is evident, that the budgetary plans of nine EU countries, Austria included, are totally compliant with the European guidelines, the plans of two countries are approximatelly compliant, however eight countries – Belgium, Spain, France, Portugal, Italy, Slovenia, Slovakia and Finland – are in the position, that their budget drafts are formed against the guidelines from the Stability and Growth Pact.
