The European Commission warns Spain about budget timing, stressing that the 2025 draft must align with medium-term structural reforms to meet refreshed fiscal rules after the pandemic. The Commission emphasized that both pieces must stay in sync to ensure credible budget planning, and that there is a ceiling to how long delays can be accommodated.
This stance was voiced by Paolo Gentiloni, the European Commissioner for Economy, on Monday in Luxembourg, reacting to Spain’s decision to delay submitting its draft budget to the European executive beyond October 15, even though it will deliver the structural plan in line with its Brussels commitments.
“There is no new normal,” Gentiloni said, noting that the European Commission remains flexible with deadlines but cautioned that there is a limit to that flexibility.
“We cannot lose the link between the budget project and the medium-term structural plans; both must be connected, and this means the level of deadline flexibility exists, but it is limited,” he reiterated.
On the other hand, Economy, Trade and Enterprise Minister Carlos Cuerpo justified the delay by citing Brussels’ request that budget drafts include economic policy measures, a stance the minister argued will not happen because until the government has its budget draft on the table it will not present the budget plan to the Commission.