Definition
The excessive deficit procedure (EDP) aims to ensure that European Union (EU) countries with excessive budget deficits and/or debt levels correct them.
Further information
The excessive deficit procedure is regulated by Article 126 of the Treaty on the Functioning of the European Union and forms the basis of the corrective component of the EU’s Stability and Growth Pact.
Regarding EDP statistics, the definition of the concepts is regulated by Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community, and by Commission Regulation (EU) No 220/2014 of 7 March 2014 amending Regulation (EC) No 479/2009 as regards references to the European System of National and Regional Accounts of the EU.
Related concepts
Legal frame
- Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community.
- Treaty on European Union and the Treaty on the Functioning of the European Union.
- Commission Regulation (EU) 220/2014 of 7 March 2014 amending Regulation (EC) 479/2009 as regards references to the European System of National and Regional Accounts of the EU.
Update date: January 2025
