European Semester 2017 Spring Package: Commission issues country-specific recommendations
Member States should use the window of opportunity offered by the economic recovery to pursue structural reforms, boost investment and strengthen their public finances. Priorities vary across the EU but further efforts across the board are essential to achieve more inclusive, robust and sustainable growth.
The European Commission today presents its 2017 country-specific recommendations (CSRs), setting out its economic policy guidance for individual Member States for the next 12 to 18 months. The economy in the EU and the euro area is proving resilient, but challenges, such as slow productivity growth, the legacies of the crisis – including persisting inequalities – and uncertainty arising mostly from external factors continue. The Commission therefore calls on Member States to use this window of opportunity to strengthen the fundamentals of their economies by implementing the economic and social priorities identified in common at European level: boosting investment, pursuing structural reforms and ensuring responsible fiscal policies. Particular attention is paid to the challenges and priorities identified for the euro area.
Vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, said: “Economic trends are overall positive and we should use this window of opportunity to make European economies more competitive, resilient and innovative. Priority should be given to reforms that can make growth more inclusive and reinvigorate productivity. Structural reforms, investment and continued attention to responsible fiscal policies are indispensable to strengthen and sustain economic recovery in the EU.”
Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said: “This year addressing inequality is firmly at the heart of our assessment. We have turned the page of the crisis: the next chapter is social. With the economy moving forward, we need to restore opportunities for those left behind and keep pace with changing skills needs by investing in high quality education and training. Productivity increases should be reflected by higher wages. Only this way can we deliver on our joint commitment to improve living standards for all.”
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: “The EU is growing and will continue to enjoy this positive trend in 2018 for the sixth year in a row. Yet the recovery is uneven and still vulnerable. We need to use all available tools to support growth, and that includes smart economic reforms as well as an intelligent application of fiscal policy. Today, the European Commission recommends to Member States an appropriate balance between ensuring the sustainability of public finances and achieving a fiscal stance that will help strengthen – and not undermine – the recovery.”
Read Press Release here
The Memo Here
|Commission Recommendations – IRELAND|