Reference value for the fiscal position

TFEU Protocol No 12 on the excessive deficit procedure sets explicit reference values for the general government deficit ratio (3% of GDP) and the debt ratio (60% of GDP). See also Stability and Growth Pact (European Central Bank)

YOU MAY ALSO LIKE

Reference value for monetary growth

Reconciliation

Reclassifications

Realised gains or losses

Realignment

real-time gross settlement (RTGS) system