site.btaEC Opens Infringement Procedure against Bulgaria over Incomplete Transposition of EU Requirements for National Budgetary Frameworks

The European Commission (EC) has decided to open infringement procedures by sending letters of formal notice to Bulgaria, Austria, Belgium, Croatia, Cyprus, Czechia, Finland, France, Ireland, Latvia, Luxembourg, Malta, Portugal, Romania, and Slovenia for failing to fully transpose Directive (EU) 2024/1265. The Directive amended Directive (EU) 2011/85/EU on requirements for budgetary frameworks of the Member States to ensure compliance with obligations under the Treaty on the Functioning of the European Union in the area of budgetary policy, notably as regards the avoidance of excessive government deficits, the EC said in a press release on Friday.

The amending Directive requires Member States to implement public accounting systems that generate accrual data needed for the European System of National and Regional accounts. It also requires them to make all relevant fiscal data public, establish independent fiscal institutions and consider the macrofiscal impacts of climate change in annual and multiannual budget plans, as far as possible. Member States were required to transpose the Directive into national law by December  31, 2025. The 15 Member States that failed to do that now have two months to respond to the letters of formal notice, complete their transposition and notify the Commission, the press release added.