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EU not to include defence spending in public finance deficit

10.02.2024 17:25
Defense expenses will not be included in the public finance deficit, under new spending rules agreed by the European Union.
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Negotiators from the European Parliament and EU countries have reached an agreement on reforming the spending rules in the bloc, taking into account Poland’s demand to not include increased defence spending in the excessive deficit procedure.

Poland’s Finance Minister Andrzej Domański said in a social media post on Saturday he was satisfied with the agreement.

Poland’s defense spending has increased due to the war in Ukraine, which is why the country has been pushing for a concessionary treatment. The demand made by the previous government was confirmed by the current authorities and agreed in December among member states. 

For the new rules to take effect, these arrangements still have to be confirmed by EU countries and the European Parliament in a vote at a plenary session.


Source: IAR