(10)Article 2(5) of Regulation (EC) No 1467/97 establishes that, if a national escape clause is activated, the Commission and the Council may decide not to reach a conclusion regarding the existence of an excessive deficitnote. However, as the projected deficit in excess of the reference value for 2026 cannot be fully explained by an increase in defence expenditure since the reference year of 2024 (cf. recital 6), Article 2(5) does not apply.
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