Vice President of the European Commission, Valdis Dombrovskis, said at a press conference that the European Commission recommended that France reject the procedure of compulsory reduction of the budget deficit. He noted that under this procedure, there is now one country - Spain. According to the Stability and Growth Pact, the EU countries are obliged to have a budget deficit of not more than 3% of GDP. If the country violates this requirement, a procedure for compulsory reduction of the deficit may begin in relation to it in the European Union. The action plan developed for this purpose can be designed for several years and include reforms and budgetary savings.
Singapore to lessen 2021 spending after record budget deficit26.01.2021
Japan’s lower house to pass controversial third extra budget for 202121.12.2020
Japan's record $1 trillion budget focuses on COVID-19 damage to growth, debt15.06.2020
Germany’s contribution to the EU budget will increase in the coming years