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Annual assessment of the economic and social situation in the Member States – Draft Budgetary Plan might result in a significant deviation in Slovenia

27.2.2019 – In its annual assessment of the economic and social situation in the Member States, the European Commission today stresses the need to promote investment, pursue responsible fiscal policies and implement well-designed reforms. Challenges vary significantly across countries and call for appropriate and determined policy action.This review of country-specific challenges comes against the backdrop of a European economy that is expected to grow for the seventh consecutive year in 2019, but at a more moderate pace. Employment is at a record high and unemployment at a record low. Public finances have also improved across the board, although some countries are still facing high levels of debt. However, challenges remain. Productivity levels remain subdued, population ageing is intensifying and rapid technological change is having a significant impact on labour markets. Real household income remains below pre-crisis levels in some Member States. Youth unemployment has been significantly reduced, but is still unacceptably high in some Member States. At a time of more pronounced global uncertainty, it is crucial that EU Member States step up their action to boost productivity, improve the resilience of their economies and ensure that economic growth benefits all citizens.

Opinion on the Draft Budgetary Plan of Slovenia

The Commission also publishes today its Opinion on the updated Draft Budgetary Plan (DBP) for Slovenia, as the one submitted last October was based on a “no policy change” scenario and was resubmitted in the meantime. The Commission considers that the updated DBP poses a risk of non-compliance with the provisions of the Stability and Growth Pact. Both Slovenia’s Plan and the Commission forecast that the Draft Budgetary Plan might result in a significant deviation from the adjustment path towards the country’s medium-term objective. Slovenia is invited to take the necessary measures within the national budgetary process to ensure that the 2019 budget will be compliant with the Stability and Growth Pact. More: here

Source: EC Press

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