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(02 June 2021) - The European Commission has today presented the European Semester Spring Package, which focuses on providing fiscal guidance to Member States as they continue the process of gradually reopening their economies.

Semester
© European Commission

This guidance aims to help Member States strengthen their economic recoveries, making the best possible use of the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.

The European Semester has been adapted this year, given the links to Member States' recovery and resilience plans, laying out the investments and reforms that the RRF will finance.

As for macroeconomic imbalances, three Member States continue to experience excessive imbalances (Cyprus, Greece, and Italy) and nine others are experiencing imbalances (Croatia, France, Germany, Ireland, the Netherlands, Portugal, Romania, Spain, and Sweden).

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