Financial Plan or Allocation of Resources

In the realm of European Union fiscal policies, the Spring of 2024 marks a significant milestone with the implementation of the European Semester 2024. The European Commission has transmitted key documents, including the Spring Package and an update on the EU Fiscal Rules, to member states.

The Spring Package, delivered in June 2024, contains country-specific reference paths for permissible expenditure growth, offering guidelines for each member state's fiscal policies. This package also includes a comprehensive analysis of the measures taken to implement country-specific recommendations, aiming to ensure fiscal sustainability across the EU.

The European Commission's fiscal policy guidelines for 2023 form part of the European Semester 2022 overview, providing a roadmap for member states' economic strategies. The Spring Package, therefore, serves as a crucial tool for budget planning and policy formulation in the upcoming years.

The Budget Service, responsible for analyzing the annual budget, federal financial framework, long-term budget forecasts, and all submissions within the European Semester, is currently assessing the National Reform Programme 2023. However, the analysis does not yet provide information on the current budget situation and challenges for budget planning from 2025 onwards.

The Austrian Federal Ministry of Finance is tasked with implementing the Austrian Stability Programme from 2022 to 2026, which is being explained in detail in the analysis. This programme outlines the measures taken by the Austrian government to achieve fiscal stability and adhere to the new EU fiscal rules, effective as of April 30, 2024.

These rules place expenditure growth at the centre of fiscal rule monitoring, reflecting a shift towards a more proactive approach to budget management within the EU. The Budget Service will continue to play a crucial role in ensuring that member states adhere to these rules and maintain fiscal sustainability in the years to come.

In summary, the European Semester 2024 presents a new chapter in EU fiscal policies, with key documents and guidelines being transmitted to member states. The Austrian Stability Programme and the new EU fiscal rules are central to this process, aiming to foster fiscal sustainability and economic growth across the EU.