The European Union (EU) has reached a significant milestone in its efforts to enhance its economic governance framework by approving a reform of its budgetary rules. This reform, which has been under negotiation for the past two years, aims to foster investment while ensuring the solvency of member states. The newly approved regulations will prioritize flexibility, growth orientation, and the credibility of their implementation, according to Paolo Gentiloni, the EU’s Economy Commissioner. He described the reform as a well-balanced compromise. However, the implementation of the reformed budgetary rules is contingent upon the endorsement of the EU’s 27 member states.
EU Approves Budgetary Reform to Boost Investment and Control Debt
