Five Countries, Including Bulgaria, Granted Extension to Submit Medium-Term Fiscal Structural Plans to EC

Five countries, including Bulgaria, have not yet submitted their national medium-term fiscal structural plans (MTPS) to the European Commission (EC). These countries have agreed with the EC to submit their plans at a later date, as revealed in the European Semester Autumn Package presented by the European Commission on Tuesday. 

The Commission has completed its assessment of 21 out of the 22 plans submitted. However, as of the release of the Autumn Package, the Commission has not yet received plans from Austria, Belgium, Bulgaria, Germany, and Lithuania. The EC has agreed with these countries to submit their plans later, which is allowed under the regulation.

The delays are due to political and election cycles, ensuring both national commitment and high-quality plans. For Bulgaria, Belgium, Austria, and Lithuania, delays were requested due to the formation of new governments after recent elections. Germany’s plan was delayed due to upcoming elections.

New governments must submit their plans as soon as they are in office, and the Commission will publish its assessment afterward, the EC noted.

It is the first European Semester Autumn Package after the reform of the new economic governance framework of the European Union (EU), which came into effect in April 2024.

Under the new framework, all EU member states must include reforms and investments in their medium-term fiscal plans, focusing on the EU’s common priorities and challenges outlined in country-specific recommendations. These include the green and digital transitions, social and economic resilience, energy security, and defense capabilities. 

According to the EC, the medium-term plans are essential to the new economic governance framework, integrating fiscal, investment, and reform objectives into one plan to create a more consistent and efficient process.