Pre-accession economic programmes (PEP)

The Pre-Accession Economic Programmes (PEPs) are part of the Pre-Accession Fiscal Surveillance Procedure, which aims at preparing the candidate countries for the participation in the multilateral surveillance and economic policy co-ordination procedures currently in place in the EU as part of the Economic and Monetary Union. The objectives of these programmes are to outline the appropriate medium-term policy framework, including public finance objectives and structural reform priorities, needed for EU accession. They offer an opportunity to develop the institutional and analytical capacity necessary to participate in EMU with a derogation from the adoption of the euro upon accession, particularly in the areas of multilateral surveillance and co-ordination of economic policies.