European standards for total public debt and general government balance

Under the Stability and Growth Pact (SGP), all countries in the euro area must ensure that their public deficit remains below 3 percent of GDP and that total public debt is no more than 60 percent of GDP.

These standards form the basis of European budget rules for member states. However, in 2020, the European Commission decided to suspend the enforcement of these rules due to the coronavirus crisis. Following the outbreak of war in Ukraine and the energy crisis, the suspension of the budget rules was extended into 2023.