Posted 2/10/2024, 1:07:58 PM
EU Agrees to More Flexible Fiscal Rules to Allow Countries to Stimulate Growth
- EU agrees to loosen fiscal rules to allow countries to reduce debt more slowly and stimulate investment
- New rules set minimum deficit and debt reduction targets that are less strict than before
- Countries get more time - 7 years instead of 4 - to cut debt and deficit starting in 2025
- Defense spending will now be considered when assessing a country's high deficit
- Preliminary deal reached by EU Council and Parliament negotiators still needs formal approval to take effect next year
