European Budgetary Monitoring

As part of the “European Semester”, euro area countries present the Economic and Financial Affairs Council of the European Union (ECOFIN) with annual updates of their stability programmes in accordance with Regulation (EU) No. 1466/1997 and an overview of their draft budgetary plans in accordance with Regulation (EU) No. 473/2013. Each update of the German Stability Programme, the overview of the draft budgetary plan and the ECOFIN Council’s country-specific recommendations are forwarded by the Federal Government to the relevant committees in the Bundestag, the Finance Minister Conference, and the Stability Council.