(Reporting by Inti Landauro; Writing by David Latona; Editing
by Andrei Khalip)
(Adds details, background, Spanish outlook)
MADRID, March 14 (Reuters) - Spain's Economy Minister
Nadia Calvino said on Tuesday in Brussels she believed 2024 was
likely to be a transition year for the European Union's new
fiscal rules.
Speaking after the Ecofin meeting of the EU's 27 finance
ministers in Brussels, Calvino said the new rules should be
agreed upon before the end of 2023 but will not be fully applied
in 2024.
EU countries have been debating how to adapt the bloc's
fiscal framework to the new post-pandemic reality of huge public
debt and large investment needs to combat climate change.
Current rules force member countries to curb deficits and rein
in public debt.
Draft conclusions of Tuesday's meeting showed countries
support much of the European Commission's proposal for the
adapted rules presented last November, but its practical
implementation was still a challenge.
Calvino also expected Spain's public deficit in 2025 to
be below 3% and the country's debt to reach 110% of gross
domestic product.
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