Revised national medium-term fiscal-structural plan
Article 15
1. No later than twelve months before the end of the current national medium-term fiscal structural plan, a Member State may request to submit a revised national medium-term fiscal-structural plan to the Commission before the end of the period covered by the national medium-term fiscal-structural plan if there are objective circumstances preventing its implementation within that period. In that case, the revised national medium-term fiscal-structural plan shall cover the period running until the end of the initial period of the plan. 2. In the case of a newly appointed government, a Member State may submit a revised national medium-term fiscal-structural plan covering a new period of four or five years depending on the regular term of its legislature. 3. A Member State may ask the relevant independent fiscal institution to issue an opinion on the macroeconomic forecast and the macroeconomic assumptions underpinning the net expenditure path, providing sufficient time for the independent fiscal institution to prepare its opinion. As of 1 May 2032, the relevant independent fiscal institutions shall issue those opinions, provided that they have built up sufficient capacity. Failure by an independent fiscal institution to deliver its opinion within a reasonable timeframe shall not prevent a Member State from submitting its revised national medium-term fiscal-structural plan. Where available, the opinion of the independent fiscal institution shall be attached to the revised national medium-term fiscal-structural plan submitted to the Commission. 4. For the purpose of preparing a revised national medium-term fiscal-structural plan by a Member State in accordance with paragraph 1 or 2, the Commission shall transmit to that Member State and to the Economic and Financial Committee a new reference trajectory or, at the request of that Member State, new technical information. 5. Taking into account the past adjustment of the Member State concerned or the lack thereof, the new reference trajectory shall not backload the fiscal adjustment effort and shall, as a rule, not lead to a lower fiscal adjustment effort. 6. If a revised national medium-term fiscal-structural plan is submitted, Articles 12, 13, 14 and 16 to 20 shall apply. 7. Where applicable, the Commission shall assess, in particular, whether any extension of the adjustment period is to apply or continue to apply under the revised national medium-term fiscal-structural plan. The Commission’s assessment shall take into account the implementation of the set of reform and investment commitments underpinning the extension under the original national medium-term fiscal-structural plan and the changes in terms of public debt challenges under the revised national medium-term fiscal-structural plan.