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Requirements for national medium-term fiscal-structural plans A national medium-term fiscal-structural plan shall:

(a) contain a net expenditure path as well as the underlying macroeconomic assumptions and the planned fiscal-structural measures in order to demonstrate compliance with the fiscal requirements of Article 16(2) and (3);

(b) include the reference trajectory or the technical information transmitted by the Commission pursuant to Article 5 or Article 9(3), respectively; where the national-medium-term fiscal-structural plan includes a higher net expenditure path than in the reference trajectory issued by the Commission pursuant to Article 5, the Member State concerned shall provide in its plan sound and data-driven economic arguments explaining the difference;

(c) explain how the Member State concerned will ensure the delivery of reforms and investments responding to the main challenges identified in the context of the European Semester, in particular in the country-specific recommendations, and how that Member State will address the following common priorities of the Union:

(i) a fair green and digital transition, including the climate objectives set out in Regulation (EU) 2021/1119;

(ii) social and economic resilience, including the European Pillar of Social Rights;

(iii) energy security; and (iv) where necessary, the build-up of defence capabilities;

(d) describe the action of the Member State concerned to address the country-specific recommendations addressed to it that are relevant for the macroeconomic imbalances procedure under Regulation (EU) No 1176/2011, and, where applicable, the Commission warnings or the Council recommendations pursuant to Article 121(4) TFEU;

(e) where applicable, explain how the Member State concerned will ensure the delivery of a relevant set of reforms and investments as referred to in Article 14, underpinning an extension of the Member State’s adjustment period by up to of three years;

(f) include the impact of reforms and investments already implemented by the Member State concerned, paying particular attention to the impact on fiscal sustainability through future government revenue, expenditure and potential growth, based on sound and data-driven economic evidence;

(g) contain information on:

(i) the main macroeconomic and budgetary assumptions, (ii) implicit and contingent liabilities, (iii) the expected impact of reforms and investments underpinning the extension of the adjustment period, (iv) the forecasted level of nationally-financed public investment throughout the period covered by the national medium-term fiscal-structural plan, (v) public investment needs including those related to the common priorities of the Union referred to in point (c) of this Article, (vi) the consultation of national parliaments and the consultation referred to in Article 11, (vii) the consistency and, where appropriate, complementarity with the cohesion policy funds as well as the recovery and resilience plan of the Member State concerned during the period of operation of the Recovery and Resilience Facility pursuant to Regulation (EU) 2021/241.