European Commission releases country recommendation for Greece, calling for a curb on expenditures in 2025

The European Commission recommended that Greece curb the rise of net expenditures in 2025, in its individual member country recommendations in social-economic policy, in the context of the European Semester.

EU member-states are called to incorporate the Commission’s recommendations in their draft state budgets for 2025. Their multi-year fiscal plans, which will be reviewed by the Commission and the Council of the European Union, should be sent by the start of October.

For Greece, the Commission recommends anter alia that it assume action in 2024 and 2025 in order to submit the medium-term fiscal and structural plan within deadline. According to the demands of the reformed Stability and Growth Pact, it said, Greece should curb the rise of its net expenditures in 2025 at a rate that compatible with the placement of the general government debt on a reasonable downward path and the maintenance of the general government deficit below 3%.