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Requirements for budgetary frameworks of the Member States – amending Directive

TA-9-2024-0313 · P9_TA(2024)0313 · PE757.278

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Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.

Parliament approves the Council draft directive amending Directive 2011/85/EU on national budgetary frameworks, as amended by Parliament. The amended directive requires Member States to have public accounting systems covering all general government subsectors, publish quarterly debt and deficit data, and base fiscal planning on realistic forecasts. It requires independent fiscal institutions with operational independence and tasks including producing or endorsing forecasts and monitoring compliance with numerical fiscal rules. It requires medium-term budgetary frameworks of at least 3 years, consistency of annual budgets with medium-term objectives, and publication of information on bodies outside regular budgets, tax expenditures and contingent liabilities. Member States must transpose the directive by 31 December 2025; the Commission must report on implementation by 30 June 2025 and review effectiveness by 31 December 2030.

Key points

  1. Parliament approves the Council draft as amended and calls on the Council to notify Parliament if it departs from the approved text or to consult Parliament again on substantial amendments.
  2. Member States must have public accounting systems covering all general government subsectors, subject to internal control and independent audits, and publish quarterly debt and deficit data.
  3. The Commission (Eurostat) must publish quarterly government finance statistics every 3 months.
  4. Annual and multiannual fiscal planning must use realistic forecasts, compared with Commission forecasts, with significant differences explained.
  5. Member States must specify which institution produces forecasts, engage in annual technical dialogue with the Commission, and subject forecasts to independent ex post evaluation.
  6. Each Member State must establish numerical fiscal rules promoting compliance with Treaty obligations and a medium-term fiscal planning horizon.
  7. Member States must ensure independent fiscal institutions are established by national laws, composed of qualified members, and free from instructions from budgetary authorities.
  8. Independent fiscal institutions must have adequate resources and information access, be externally evaluated, and undertake tasks including forecasts, monitoring fiscal rules and assessing the budgetary framework.
  9. Member States must comply with independent fiscal institution assessments or publicly explain non-compliance within two months.
  10. Member States must establish a credible national medium-term budgetary framework with a fiscal planning horizon of at least 3 years.
  11. Annual budget legislation must be consistent with medium-term budgetary objectives, and a new government may update its medium-term plan indicating differences.
  12. Member States must publish information on bodies and funds outside regular budgets, tax expenditures, and contingent liabilities including disaster and climate-related ones.

Who is affected

  • Member States must transpose the directive by 31 December 2025 and comply with its requirements.
  • Independent fiscal institutions gain tasks and must meet independence and resource requirements.
  • The Commission must prepare reports and publish reviews on implementation and effectiveness.
  • The Council must notify Parliament if it departs from the approved text or consult again on substantial amendments.

Figures and deadlines

  • 31 December 2025: deadline for Member States to bring into force provisions to comply with the directive.
  • 30 June 2025: deadline for Commission interim progress report on implementation.
  • 31 December 2025 and every five years thereafter: Commission reports on public accounting and independent fiscal institutions.
  • 31 December 2030 and every five years thereafter: Commission review of the effectiveness of the directive.
  • At least 3 years: fiscal planning horizon for national medium-term budgetary frameworks.
  • At least 4 consecutive years: period of significant bias in macroeconomic forecasts triggering action.
  • Two months: deadline for Member States to explain non-compliance with independent fiscal institution assessments.

Legal basis: Article 126(14), third subparagraph, of the Treaty on the Functioning of the European Union.