MNI BRIEF: Brussels Not Recommending EDP Launch Vs Austria
MNI (LONDON) - The European Commission will not recommend the opening of an excessive deficit procedure against Austria following new fiscal consolidation measures presented by the country's finance minister earlier this week, a spokesperson said Friday.
Brussels considers the measures concerned "to be a sufficient basis to bring the Austrian budget deficit down below 3% (of GDP) by the end of this year," Commission spokesperson Balazs Ujvari said.
"The Commission at this stage will not be proposing the opening of an Excessive Deficit Procedure for Austria," Ujvari added, noting that the Commission would still be "keeping an eye" on Austria 2024 budget outturns when those data are released in April. (see MNI INTERVIEW2: Austria In Good Position To Avoid EDP - Kocher )