# EU adopts reformed economic-governance fiscal rules in April 2024

Date: 2024

On 29 April 2024 the Council of the EU adopted a reform of the bloc's economic-governance framework, overhauling the Stability and Growth Pact for the first time since the post-crisis era. Proposed by the European Commission (with Executive Vice-President [Valdis Dombrovskis](/people/valdis-dombrovskis) and Commissioner [Paolo Gentiloni](/people/paolo-gentiloni)) and agreed with Parliament in February 2024, the new rules tie debt-reduction paths to country-specific multi-year plans while aiming to protect public investment. The framework entered into force on 30 April 2024 and reshapes how member states must manage deficits and debt.

## Drivers

- Cost-of-Living Pressure: https://factrail.ai/drivers/econ-cost-of-living-pressure

## Sources

_Sources are listed on the canonical page._

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/econ-fact-eu-fiscal-rules-reform-2024