Brussels has spent two years negotiating reforms. which aim to boost investment while controlling debt levels of member states, APA reports citing Deutsche Welle.
European Union lawmakers on Tuesday approved a reform of the bloc's budgetary rules aimed at reigning in spending. Brussels has spent two years negotiating the reform.
The new rules still need to be endorsed by the bloc's 27 member states.
The EU's economy commissioner, Paolo Gentiloni, said that the new rules are "more flexible, more growth oriented, more credible in their implementation."
He said that the reform was a "good compromise."
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