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The Grand Committee issued its statement on the Government report on the Communication of the European Commission on the EU economic governance review on 6 May.
The Grand Committee deemed the review of the regulatory framework of economic policies a necessary and important initiative. The aim should be to create a framework that is functional also in the long term. The framework should be renewed to better steer the Member States towards debt sustainability. Simultaneously, it should be ensured that the Member States can make the investments required to deliver the green transition. The framework should better enable the Member States to act in proportion to different cyclical conditions, says the Grand Committee in its statement.
The Committee statement SuVL 6/2022 is now available in English here (pdf).
In early March 2022, the Commission adopted a Communication on fiscal policy guidance for 2023. It contained initial observations on key elements for which a consensus in the review of the EU framework could be achieved based on the discussions between the Member States. It was expected that the possible legislative amendments could be discussed in the autumn of 2022.