text: 2023: The General Escape Clause within the existing regulations is deactivated, and the SGP fiscal rules will apply again starting from the next evaluation in June 2024, concerning data for fiscal year 2023 and budget year 2024.
  2024: Reform of the Economic Governance Framework (new fiscal rules) will be adopted by EU in spring 2024, and apply starting from submission of 2025 budgets and 2025–2028 national fiscal plans in September 2024.
  Reform 2005
  In March 2005, the EU Council, under the pressure of France and Germany, relaxed the rules; the EC said it was to respond to criticisms of insufficient flexibility and to make the pact more enforceable. The Ecofin agreed on a reform of the SGP. The ceilings of 3% for budget deficit and 60% for public debt were maintained, but the decision to declare a country in excessive deficit can now rely on certain parameters: the behaviour of the cyclically adjusted budget, the level of debt, the duration of the slow growth period and the possibility that the deficit is related to productivity-enhancing procedures. The pact is part of a set of Council Regulations, decided upon the European Council Summit 22–23 March 2005.
  Reform changes of the preventive arm