engleski

Ten facts about the Excessive Deficit Procedure

The Stability and Growth Pact (SGP) and the Maastricht criteria lay down the limits on the growth of the public debt and budget deficit, as well as the Excessive Deficit Procedure (EDP)for countries which do not comply with the Maastricht fislal rules. The EC will probably launch and EDP against Croatia as well, given that its budget deficit exceeds the reference value and that its public debt is growing. In such cases the EC will not assume control over the MS budget execution in the way that it directly proposes measures on either revenue or expenditure side of the budget. It rather monitors the realisation of the goals set in the Reccomendation, with a view to bringing the situation of the EDP to the end, while MS concerned decides on the set of measures to achieve the goals defined in the Reccomendation.

fiscal policy ; fiscal consolidation ; Croatia

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