ECONOMY

Nicosia at risk of breaking EU budget rules

Nicosia at risk of breaking EU budget rules

Cyprus and five other countries are at risk of breaking European Union budget discipline rules with their 2017 draft budgets, the European Commission said in a statement on Wednesday.

The five other countries are Belgium, Finland, Italy, Lithuania and Slovenia.

“The draft budgetary plans of these member-states might result in a significant deviation from the adjustment paths toward the respective medium-term objective,” the European Commission said.

The medium-term objective is a budget balanced in structural terms, which means excluding one-off spending and revenue and the effects of the business cycle.

[Reuters]

EU Euro

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