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dc.contributor.authorAlonso, Daniel
dc.contributor.authorMatea, María de los Llanos
dc.coverage.spatialPaíses de la UE
dc.date.accessioned2023-09-07T13:21:36Z
dc.date.available2023-09-07T13:21:36Z
dc.date.issued2023-09-07
dc.identifier.issn1695-9086 (en línea)
dc.identifier.issn1130-4987 (en papel)
dc.identifier.urihttps://repositorio.bde.es/handle/123456789/33570
dc.description.abstractRationale Since 2020, the European Semester has been immersed in a large-scale restructuring process, to adapt to an environment in constant change. At the same time, it has continued to adapt to the implementation of the Recovery and Resilience Facility. Moreover, in 2024, coinciding with the deactivation of the general escape clause of the Stability and Growth Pact, a new fiscal governance framework will have to be adopted, which will continue to be integrated in the European Semester. Takeaways •The main new feature in the current cycle is the European Commission’s legislative proposal for reform of the European Union’s fiscal rules, which should pave the way for the adoption of a new fiscal governance framework integrated in the European Semester. •To facilitate the transition towards the future fiscal rules and to take into account the present challenges, some elements of the proposal have been incorporated into the current fiscal surveillance cycle, via country-specific recommendations. •The recommendations for Spain for 2024 include a quantitative requirement that limits nationally financed nominal primary expenditure to 2.6%, as well as qualitative guidance on investment and energy measures.
dc.format.extent15 p.
dc.language.isoen
dc.publisherBanco de España
dc.relation.ispartofEconomic Bulletin / Banco de España, 2023/Q3, 13
dc.relation.hasversionVersión en español 123456789/33567
dc.rightsReconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
dc.rightsIn Copyright - Non Commercial Use Permitted
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES
dc.rights.urihttp://rightsstatements.org/vocab/InC-NC/1.0/
dc.subjectEuropean Semester
dc.subjectNextGenerationEU
dc.subjectRecovery and Resilience Facility
dc.subjectRecovery
dc.subjectTransformation and Resilience Plan
dc.subjectMacroeconomic imbalances
dc.subjectGeneral escape clause
dc.subjectFiscal governance framework
dc.titleThe 2023 European Semester and the Recovery and Resilience Facility
dc.typeArtículo
dc.identifier.bdebib000474775
dc.identifier.bdepubECBU-2023-Q3-13
dc.subject.bdeDéficit y deuda públicos
dc.subject.bdePresupuesto y contabilidad pública
dc.subject.bdeGlobalización
dc.subject.bdeEconomía internacional
dc.publisher.bdeMadrid : Banco de España, 2023
dc.subject.jelF4
dc.subject.jelF5
dc.subject.jelF6
dc.subject.jelH5
dc.subject.jelH6
dc.subject.jelO4
dc.subject.jelO52
dc.identifier.doihttps://doi.org/10.53479/33570
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