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EU launches excessive deficit procedures against seven member states

CGTN

 , Updated 21:50, 26-Jul-2024

The EU Council on Friday adopted decisions establishing the existence of excessive deficits for Belgium, France, Italy, Hungary, Malta, Poland and Slovakia, the council announced in a statement.

"Today's adoption means that the excessive deficit procedures are now formally launched," the council said, adding that these member states will be asked to take effective action to correct their deficit within a given time period.

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