According to the EC’s assessment, Hungary — taking into account the country’s higher defense spending — has taken effective measures in the interest of ending the EDP and will recommend to the Economic and Financial Affairs Council (Ecofin) suspending the procedure, the ministry said, according to MTI.
Ecofin is expected to discuss and approve the recommendation before the end of June, it added.
In the framework of the European Semester Spring Package, the EC weighed measures the eight member states under an EDP have taken to reduce their deficits, scrutinising increases in net expenditures compared to the upper threshold of the Council recommendation, the ministry noted.
This year’s framework for the fiscal review of member states offers the chance to activate a National Escape Clause (NEC), allowing a temporary deviation from the net expenditure path set by the Council under the ReArm Europe Plan/Readiness 2030 defense package, the ministry said.
Some 15 member states — Belgium, Bulgaria, Czechia, Denmark, Estonia, Finland, Greece, Croatia, Poland, Latvia, Lithuania, Portugal, Slovakia, and Slovenia, in addition to Hungary — have requested the activation of the NEC, it added.
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