MNI BRIEF: States' 23 Draft Budget Plans Must Be Tightened- EC

The European Commission said Tuesday member states should rein in their spending plans for next year, with Economy Commissioner Paolo Gentiloni saying the 2023 crop of debt budget plans presented a “mixed picture”.

“With energy prices set to remain high next year and support measures likely to be extended, it is urgent to adapt their design to avoid an unnecessarily high burden on public finances - and to maintain incentives for reducing consumption of fossil fuels.”

The Commission singled out Austria, Lithuania, Germany, Estonia, Luxembourg, the Netherlands, Slovenia and Slovakia for their 2023 plans, saying these are only partly in line with the EU’s policy recommendations. With regard to high-debt Member States, the Commission said that the plans of France, Greece and Spain are in line with EU fiscal guidance, while Belgium's DBP is only partly in line and Portugal’s is at risk of being only partly in line with the recommendations. (MNI: EU Fiscal Scolding Seen Falling On Deaf Ears)